Services of Capital Real Estate Budapest
Real Estate Financing and Mortgages
This service is currently not available to non-Hungarians.
Only expats living and earning a fixed wage in Hungary that has been directly deposited to their bank account for the last 6 months can apply.
Updated September 2013
Capital Real Estate in conjunction with Ganesha Global Kft. can now help you with property mortgages. The Ganesha Global Finance Department is headed by Gabor Vitanyi, he has over 4 years experience in the Hungarian banking and financing sector. Gabor is contracted with OTP, Raiffeisen, CIB, Aegon, K & H and Erste banks. He will be able to assist you in gaining financing using your first property, existing real estate to either achieve a 100% LTV on subsequent property investment or refinancing your current property.
Regarding the loan-to-value (LTV) ratio this offer is the best on the Hungarian market for foreigners.
- As the offer is a so called low-documentation loan, no income statements/information are needed thereafter the application process is as simple as possible and as fast as possible.
- In case of foreign individuals this offer has the lowest fees and costs.
- The mortgage can be paid back anytime without huge penalties, only a one time fee of € 250 or 1,5% of the loan amount has to be paid depending on the bank.
The following documents are required for the submission of the loan application:
For personal identification
- Personal identity document (Passport), an official document certifying personal identity number/residential address (Drivers Licence) unless these are contained in the personal identity document
- Utility bill no older than 3 months
- Another certificate with photo
- Tax ID card or National Insurance Card (Hungarian and/or foreign)
No income check required
List of documents requested by the Bank
- Power of Attorney authorisation to arrange the loan on costumer’s behalf
- Certified Ownership Certificate of current status of the property no older than 15 days
- Bank application form
- Current map of the property in the case single dwelling/ house or plot of land
- Personal bank account in Hungary
- Property Insurance Policy
As above but with the addition of:
- Purchase Agreement /Sales agreement registered and approved of by the Land Registry Office(including mailing address)
- Certified Ownership Certificate of current pre-registration status of the property no older than 15 days
- Agreement of Deposit with Solicitor Escrow Account
Residential Mortgages for Hungary
What is covered?
- Purchase of houses, apartments and freehold land are available for individuals.
- Unrestricted use
Loan to Value:
- 50% - 80% of the market value (in some cases it can be 100%)
Maximum Loan Amount:
- Euro: 8.7% -9.7% (including bank administration fee)
- Swiss Franc: 5.5% - 8.2% (including bank administration fee)
Maximum Term & Age Limit:
- 25 - 35 years (not more than 68 years old at maturity)
- Euro, Swiss Franc or Hungarian Forint
- € 250 or 1,5% of the amount of the current loan depending on bank
Total Loan Index (A.P.R.)
Submission of documents
- Ganesha Global loan arrangement fee € 200 + V.A.T. (non-refundable)
- Valuation expert for property appraisal € 120 / property
- Ownership Certificate € 18 / property
- Current map of the property in case € 12 / property single dwelling/ house or plot of land
Payment structure for loan arrangement
Ganesha Global Kft. (Budapest, Hungary)
Tel.: +36 (1) 219 5505
Fax: +36 (1) 219 5504
Web Site: www.ganeshaglobal.eu
IMPORTANT: Rates are subject to change and the information above is only for guidance. Please contact a representative for up-to-date advice.
Under Hungarian law, similar to other countries, the right of ownership is the most absolute right regarding an asset. It is easier, from an administrative point of view, and more tax efficient...
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Tel: +36 (1) 219 5505
Fax:+36 (1) 219 5504