Mortgages in Montenegro
Montenegro does not issue mortgage loans to foreign citizens who are not the residents.
For residents, conditions are the following:
Minimum loan amount | €10,000 |
Maximum loan amount | €400,000 |
Rates | 4–4.5% per annum (in EUR) |
Loan term | From 3 to 30 years |
Maximum age of borrower by the end of the loan term | 70 |
Application for mortgage in Montenegro requires the following documents:
- mortgage application;
- garnishment consent or employment certificate;
- mortgaged property value assessment;
- salary transfer statement;
- 3 last payslips or an account statement;
- property sales agreement;
Borrowers must also have an account with the bank they apply to.
All the documents must be rendered into Montenegrin by a certified translator.
Loan applications take several weeks for approval.
Extra costs
Borrowers also pay mortgage arrangement and annual insurance fees.
Property appraisal and Due Diligence | — |
Property insurance | Depending on the property value |
Mortgage arrangement fee | 1% of the loan value |
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