Mortgages in Latvia

Mortgage rates in Latvia are 2-3 times higher than in Austria and Germany. However, obtaining a loan in Latvia is relatively simple: the process is not time-intensive, and down payments can amount to 30%.

Buy property in Latvia 2,592 listings on Tranio

329,000 €

For sale modern apartment in Old Town

Total area 125 m²

400,000 €

Two-bedroom apartment with a balcony in Art Nouveau style building in prestigious district of Riga – Quiet Centre

Total area 97 m² 2 bedrooms

235,000 €

Apartment – Old Riga, Riga, Latvia

Total area 102 m²

140,000 €

Furnished apartment with a balcony in a house with a rooftop terrace, a closed courtyard and a playground, Riga, Latvia

1 bedroom 1 bathroom

1,000,000 €

For sale an exclusive apartment in prestigious Embassy area

Total area 236 m²

1,300,000 €

Apartment in Quiet centre of Riga

Total area 174 m² 3 bathrooms

240,000 €

Unique apartment with tower for sale

Total area 190 m²

340,000 €

Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga

Total area 133 m² 2 bedrooms

Documents

Prospective lendees need to submit the following documents to Latvian banks:

• mortgage application
• passport
• bank statements for the previous six months
• proof of income for the previous six months
• pledge assessment
• property acquisition documents
• construction documents: construction permit, contracts and cost sheets (for construction loans)
• proof of all utility bill payments for each pledged property.

All documents must be translated into Latvian and notarised.

Loan applications usually take 1-2 weeks for approval.

Extra costs

Non-recurring mortgage costs in Latvia tend to range between €80 and €250. The buyer also pays a fee equal to 2% of the loan value. Insurance costs typically amount to €50-200 per year.

*The exact amount depends on property characteristics.

*Approximate amounts.