18.01.2020: in exactly 2 weeks, the UK will no longer be a member of the EU. This opens up new possibilities when it comes to real estate financing in Germany for anyone living in the UK. Reason: the sog. The right of conversion is eliminated, which significantly increases the number of financing banks. If only there were not this transition period.
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Those who live and/or work in the UK currently have significant problems obtaining real estate financing in Germany. We have found several ways to set up a real estate financing in Deutschand despite residence in the UK, but it was (and still is) very troublesome. With UK residency, GBP income and financing a rented property, financing options are very limited. But that's all about to change with Brexit.
With the exit from the EU, everyone who lives in the UK and after the final Brexit (!) take out a loan in Germany, the sog. Conversion right. This conversion right is so far the large stumbling block with the granting of credit in Germany, because the German banks reject financings with conversion right so far mostly categorically. Once U.K. conversion right is history, number of lending institutions then offering financing increases significantly.
However, the final Brexit will not take place until the end of the transition period on 31.12.2021. And this period can be extended again by up to 2 years!
However, this does not mean that all banks in Germany then suddenly shout loudly "Hurray"! Most banks, savings banks, building societies and insurance companies will continue to refuse finance to UK residents and/or those with GBP income. The best-known example is ING, which usually only finances if the borrower lives in Germany and earns his income in euros from an employer based in Germany.
Since we specialize in real estate financing for sog. "Non-residents" (residing outside Germany) have specialized, we know exactly which credit institutions are eligible for financing in Germany. So we can check very quickly whether and under what conditions (z.B. Equity investment) your financing project is feasible. We take care of the entire process from consultation, provider selection to loan disbursement. By the way, this service is free of charge for you.