|
|
Post by londonhack on May 24, 2006 17:22:34 GMT 1
I'm about to start talking to banks here in the UK about borrowing cash to buy in Croatia. Interested to hear what experiences any fellow brits have had in this area - is it more difficult to borrow because it's non-EU?
|
|
|
|
Post by irac on May 24, 2006 17:44:02 GMT 1
As far as I know it's not fully possible, unless you're topping up (releasing equity) to buy in Croatia from the UK, but this may have changed. I know in Ireland you're unable to get a mortgage just to buy, but you can borrow from an existing property to do so.
|
|
|
|
Post by Carol on May 26, 2006 13:15:49 GMT 1
UK lenders will not give you money to buy Croatian property. The reason is that they have to do a lot of investigations about the risks and legal side, as they would have to do in any country before they could lend money. So their costs are fixed. However, they could not possibly hope to sell as many mortgages for Croatia relative to Spain, France etc. So there are other countries which are more profitable for them.
Croatian banks are beginning to consider mortgages for foreigners, but no one has brought one to market yet. Hypo Alpe Adria Bank offer leasing from their London office. The terms are not very advantageous in my opinion. I think one or two Croatian estate agents are selling their mortgages however.
|
|
andyb
New Member
Posts: 4
|
Post by andyb on Jan 3, 2007 17:54:48 GMT 1
Carol,
I know this is an old thread but I've been going through all the postings looking for information on financing property in Croatia.
I know that re-mortgaging in the UK is probably the cheapest option, but I would be interested in having a 'stand-alone' mortgage secured on the property itself.
I have been looking at the websites of Croatian banks and Hypo Alpe seem to have the most products but seem rather restrictive in offering to non-residents. I have not heard of this 'leasing from their London office'. Could you give a bit more detail?
Londonhack,
How did you get on with approaching banks here in the UK? Or did you manage to find some other way of financing a purchase? I would be interested to hear about your experiences.
Thanks in advance for any help you can give,
Andy.
|
|
|
|
Post by mark2 on Jan 3, 2007 18:23:56 GMT 1
Andy, You still won't get a UK based mortgage against a property in Croatia. If you don't have the ready cash, you will have to release the equity in your UK home to buy here. The following site were offering "mortgages" to buy in Croatia, but I would assume the additional costs would outweigh any benefit. www.mortgages.co.uk/holiday-homes/Croatia/croatian-mortgages.html |
|
|
|
Post by Carol on Jan 3, 2007 18:56:08 GMT 1
i think hypo-aldrie bank have some sort of leasing which they've tried to make look like a mortgage. it is sold through their london branch (with a few croatian baserd estate agencies offering it as their "exclusive" mortgage). Its an option but a fairly unattractive one unless you have no other choice.
I don't know when the Croatian banks will start lending to foreigners. At the moment they are swamped with lending to locals, so I don't think it will be any time soon.
|
|
muttsnhahn
Full Member
I swear to drunk i'm not god!
Posts: 86
|
Post by muttsnhahn on Jan 16, 2007 8:56:46 GMT 1
we couldn't get a morgage for our croatian property. We saved up some and then took some out of our uk house.
|
|
|
|
Post by firefly on Jan 16, 2007 13:31:37 GMT 1
UK property market is on the edge of a precipice. One more interest rate rise and we're fcuked.
I wouldn't count on a property as a cash machine model any more.
|
|
|
|
Post by capio on Jan 16, 2007 14:06:06 GMT 1
UK property market is on the edge of a precipice. One more interest rate rise and we're fcuked. I wouldn't count on a property as a cash machine model any more. I would hope you were right, but I would bet everything I own, that my property will be worth more in 5 years time than it is now. It's an unnatural situation and house prices bare no relationship to salaries, I think a dip would happen if there wasn't so many people (like me) who supplement their income by involving themselves in the buy to let market, or the insane numbers of people who buy run down houses, project manage improvements themselves and sell the house on at a profit, its become a national obsession. |
|
irena
Junior Member
Posts: 10 
|
Post by irena on Jan 25, 2007 11:30:19 GMT 1
|
|
|
|
Post by dardana on Jan 29, 2007 11:10:21 GMT 1
|
|
|
|
Post by kisero on Feb 18, 2007 1:12:20 GMT 1
you could do it backwards, ask the loan in Croatia based on your uk salary. will be easier...
give a call to Croats banks from Croatia, but im almost sure you wont have a problem...
i can think:
1) you'll need to forward your bank salary to croatia every month (maybe?)
2) get the proper visa paperwork to buy a property (that applies to anyone who's not croat and wanna invest there)
check that, myabe helps.
|
|
|
|
Post by darcy on Feb 18, 2007 14:21:17 GMT 1
Croatia is not a foreigner friendly country and up to my knowledge even with a permanent residency and employment you cannot get any kind of loan.
I know some folks few months ago told me even if you are a Croatian citizen - bad luck as well. Only one bank offers it, plus interest and conditions are rip off - something in the range of 8-9% interest with a loan in CHF and all fully secured plus on a top of that some non-sence of 20% invested in bank's investment fund (?). I think they said the bank was Erste, I did not know they operate in CRO. Go and buy it with your Visa.
Did anybody try to get a loan as a Croatian company?
|
|
|
|
Post by kisero on Feb 18, 2007 16:38:56 GMT 1
to be honest i didnt go that far on investigations. i just went to zagreb bank and got a bank account, while doing hte paperwork (veryyyy easy...just get ur passport + a few euros) i asked for the loan. they told me that based on a uk salary, u can apply to loans easy due the exchange rate (current).... intereset will be higher than uk/usa/etc , its not a first world economy! ... u r right, Croats are not friendly with foreigners...they think we r invaiding their territory (im sure many have those intentions...and we, poor mortals just receive the slap as well). btw, im argentinian with Croat citizen ... and i dont speak a word of Croatian...so get the picture  wish u all the best me |
|
