Mortgages in Austria
Austria offers some of the most favourable mortgage terms in Europe. However, it bears noting that loans are not universally accessible to foreign citizens as many federal states have established restrictions with respect to foreign buyers.
Maximum LTV ratio( |
|
Maximum LTV ratio(existing property) | |
Minimum and maximumloan amounts | — |
Fixed rates | |
Minimum age of borrower | — |
Maximum age of borrowerby the end of the loan term | |
Maximum percentageof monthly income for mortgage | 35% |
Documents
To obtain a mortgage loan in Austria, you need to submit the following documents to the bank:
- passport
- signed property sale agreement (or signed offer to purchase)
- proof of salary (for employees) or proof of company income (for business owners)
- other proofs of solvency (e.g., contract for the sale of valuable property or savings account statements).
It is important to bear in mind that a bank statement by itself
Loan applications usually take
Additional costs
Property appraisal and Due Diligence (not applicable |
From €200 for a small flatto €2,000 for a villa |
Compulsory property insurance | From 0.1% per annum |
Mortgage arrangement fee | |
Indirect notary certification costs(may be defrayed by the bank) | From EUR 50 to EUR 1,000(if the mortgage deed is registeredas a notarial act) |
The fee paid to the trust managerin charge of recording the propertyin the Land Register | 0.6% of the mortgage value |
Early repayment penalty(not applicable to "flexible"agreements with floating rates) | 0.5-1% of the remaining debt amount |
Local real estate agencies, financial brokers and advisors can assist clients with obtaining a mortgage in Austria. Intermediary services cost up to 2% (+VAT) of the mortgage loan amount
We will send you a content digest not more than once a week