Visit Ukraine - Which EU countries have the cheapest mortgages or where it is profitable to buy a home on credit?

en

ru
UA
de

en

ru
UA
de

3 min

18 Sep. 2024

365

Which EU countries have the cheapest mortgages or where it is profitable to buy a home on credit?

Finance

Popular

Cost of living

Table of contents

Which European Union countries have the lowest mortgage interest rates?
Where are the highest mortgage rates in the EU?
What mortgage rates do other EU countries have?

Share:

Which EU countries have the cheapest mortgages or where it is profitable to buy a home on credit?

For many people, mortgages and long-term loans are the only way to get their own home. It is important to keep in mind that the interest on such a loan is stable over time. Find out which European countries have the cheapest and most expensive mortgages

Legal advice on the purchase and registration of real estate in Ukraine and abroad

Legal advice on the purchase and registration of real estate in Ukraine and abroad

Many people, mostly young people, consider a mortgage to be the only way to get their own home. A mortgage is actually a long-term loan that can be repaid over years or even decades. At the moment, many Ukrainians are forced to move to the European Union, and some of them decide to stay there forever. Read the article to find out which countries have the lowest and highest mortgage prices.

Which European Union countries have the lowest mortgage interest rates?

According to a study by Bankier.pl, the countries with the lowest mortgage interest rates are Malta (2.19%) and Bulgaria (2.53%).

Getting a mortgage in Malta

Real estate in Malta is not cheap compared to other European countries, but it is quite easy to get a mortgage here. Since the country is one of the most densely populated, foreigners have certain restrictions on buying property - one family can buy only one apartment. At the same time, it is not recommended to buy a property in Malta to rent it out: the apartment is either located in a luxury complex where rent prices are sky-high, or you need to obtain a special permit from the authorities to rent it.

Foreigners have the right to take out a mortgage with a local bank, but the authorities scrutinise documents carefully, so it is worth contacting specialists to prepare the package to avoid wasting time and effort and being rejected. The growth in property values here is 10% per year, and the mortgage is a maximum of 4.5%. So the benefits are obvious.

What are the conditions for getting a mortgage in Malta?

- You must be at least 21 and not more than 65 years old;

- 30% of the funds are paid initially, and 70% of the loan is issued;

- the minimum mortgage term is 9 years and the maximum is 30 years;

- there is a possibility of interest-free early repayment;

- the only currency for mortgages is the euro;

- home and life insurance is required for the borrower.

What package of documents do I need to collect to get a mortgage in Malta?

1) Purchase agreement;

2) Real estate insurance contract;

3) Borrower's life insurance contract for the entire loan term;

4) The borrower's income statement (the income must be three times the monthly deductions for the planned loan);

5) Written consent of the other spouse to the mortgage;

6) Bank statement for the last year with a description of all transactions.

7) A copy of the passport.

8) A copy of the foreign passport.

9) 2 photographs

Please note: In order to obtain a mortgage in Malta, you need to confirm that you have no criminal record, no debt obligations and no other types of bad reputation in your home country.

You can findcomprehensive information on the rules of entry to Malta for Ukrainians on the Visit Ukraine portal.

How to get a mortgage in Bulgaria?

Mortgages for Ukrainians in Bulgaria are issued by 7 banks, including UniCredit, Alfa-Bank, DSK-bank, Postbank, Bulgarian-American Credit Bank and others.

The easiest way for foreigners to buy a home is from a developer who cooperates with one or more banks. The advantage is the loyal attitude of the lender.

Stages of obtaining a mortgage to buy a secondary market apartment in Bulgaria

1) Choose an object and book it: the search for an object is carried out independently or through a realtor, and there is no licensing system for the latter - trust only trusted specialists; the reservation involves a transfer of about 2-3 thousand euros.

2) Choose a bank and collect documents.

3) Apply for a mortgage loan - you can do this in person or delegate an authorised representative by power of attorney.

4) Approval of the application - the procedure takes about 1.5-2 months, during which time all the necessary related procedures are carried out: real estate appraisal, signing of an insurance contract, notarisation.

5) Conclusion of the transaction and re-registration of the property.

Package of documents for obtaining a mortgage in Bulgaria

- a copy of the passport

- a copy of the foreign passport;

- certificate of marriage or divorce;

- income statement for the last tax period;

- certificate of payment of taxes for the last tax period;

- salary certificate from the main place of work;

- bank statement on the movement of funds in the account for the last six months;

- an extract from the Unified State Register of Real Estate with information about the real estate owned and the absence of encumbrances on it;

- certificate from the credit history bureau + letter of recommendation from the Ukrainian bank of which the person is a client (IF REQUIRED)

- a preliminary real estate purchase and sale agreement.

Property prices in the European Union vary widely. Earlier, we told you where and at what prices Ukrainians buy housing in Europe. For more details, please follow the link.

Visit Ukraine on social media: Telegram | YouTube | Instagram | Facebook | Twitter | TikTok

Where are the highest mortgage rates in the EU?

According to the Credit Information Bureau, Poland has the highest mortgage rates in the European Union. As of September 2024, about 4 million residents of the Republic of Poland have an active mortgage loan.

First of all, it is worth noting that most mortgages in Poland require a down payment, meaning that a person must work for several years to accumulate a down payment before obtaining a mortgage. In general, the down payment in Poland is 30% of the property value. That is, if a typical apartment costs 300 thousand zlotys, a person has to save 60 thousand, which is very difficult.

Earlier, we told you that Ukrainians are buying housing in Poland. To learn more about this and what types of housing are most often chosen, follow the link.

Poland has the highest mortgage interest rates among all EU countries (7.90%), so you will need to pay it back for decades after receiving it, and pay the bank an amount several times higher than the principal.

What mortgage rates do other EU countries have?

According to a study by Bankier.pl, other EU countries have the following mortgage rates: Spain - 3.34%, France - 3.41%, Belgium - 3.41%, Slovenia - 3.61%, Portugal - 3.70%, Croatia - 3.57%, Greece - 3.87%, Germany - 3.92%, Austria - 3.94%, Luxembourg - 3.95%, Ireland - 4, 08%, Finland - 4.10%, Slovakia - 4.19%, Cyprus - 4.33%, Sweden - 4.44%, Denmark - 4.75%, Czech Republic - 4.88%, Lithuania - 5.36%, Estonia - 5.53%, Latvia - 5.68%, Hungary - 7.24%, Romania - 7.38%.

Earlier, Visit Ukraine experts gave practical advice on how Ukrainians can buy a home abroad. Read the details here.

To check the owner of the property, the realtor, draw up a purchase and sale agreement and prepare the necessary package of documents (we remind you that they differ slightly in different EU countries), please contact Visit Ukraine's real estate specialists. You will be able to quickly get qualified legal assistance and be sure that the mortgage will be successful.

Photo: Judicial and Legal Newspaper

Want to know more? Read the latest news and useful materials about Ukraine and the world in the News section.

Ihor Usyk is the Head of Legal Department at Visit Ukraine

Are you planning to buy real estate abroad? Order legal advice from a team of experienced lawyers. The specialist will help to understand all the intricacies of foreign legislation and solve organizational issues.

Do you have additional questions? Contact the Visit Ukraine hotline (Telegram | WhatsApp)

Our recommendation for a safe and comfortable trip:

Visit Ukraine Insurance - insurance for a safe stay abroad without unnecessary expenses;

Green Card - compulsory car insurance for traveling abroad;

Visit Ukraine Tickets - book tickets for buses, trains, and airplanes to/from Ukraine and between cities around the world;

Private Lawyer service - professional legal support on visa and migration issues;

Visit Ukraine Merch - buy patriotic clothing and accessories with worldwide delivery.

© 2018-2024, Visit Ukraine. Use, copying or reprinting of materials on this site is permitted only with a link (hyperlink for online publications) to Visit Ukraine.

All rights reserved.

Frequantly

asked questions

Which European countries have the cheapest mortgages?

According to a study by Bankier.pl, the countries with the lowest mortgage interest rates are Malta (2.19%) and Bulgaria (2.53%).

What are the restrictions on buying a home in Malta?

Can a foreigner rent out a property in Malta?

What is the growth in housing prices in Malta?

What is the age threshold for obtaining a mortgage in Malta?

Where are the highest mortgage rates in the EU?

Recommended articles

2 min

Finance

The Norwegian Refugee Council (NRC) has opened a call for applications for financial assistance: how to get money?

The Norwegian Refugee Council (NRC) has opened a call for applications for financial assistance: how to get money?

The Norwegian Refugee Council (NRC) in Ukraine has opened a call for applications for financial assistance for victims. Find out how to apply and receive support

16 Sep. 2024

2 min

Finance

Double taxation for Ukrainians: how does it work, who is obliged to pay taxes twice and how to file a declaration?

Double taxation for Ukrainians: how does it work, who is obliged to pay taxes twice and how to file a declaration?

According to the Tax Code, Ukrainians who are abroad and have income but have permanent residence in Ukraine are residents of Ukraine. This means that they must file a tax return. We will explain in detail how to do this, who is obliged to pay taxes twice and what fee will have to be paid in any case

18 Sep. 2024

1 min

Finance

Tax increase in Ukraine: Rada committee approves draft law for repeated first reading

Tax increase in Ukraine: Rada committee approves draft law for repeated first reading

In July, the Verkhovna Rada of Ukraine sent back a draft law on changes to tax legislation for revision. Find out which categories of the population are expected to face tax increases and in what amounts

16 Sep. 2024

2 min

BusinessUA

The grant programme for own business has been expanded: who can now get money for business

The grant programme for own business has been expanded: who can now get money for business

Now one more category of Ukrainians will be able to get a grant to start their own business. Find out who and how can open their own business, and how much the state allocates for it

15 Sep. 2024

Refund policy

Refund policy

Public offer

Public offer

About us

VisitUkraine.Today is a service portal for tourists traveling to Ukraine and Ukrainians planning a trip abroad.

On the portal you can order the following products/services:
• medical insurance for entry into Ukraine with coverage of military risks;
• travel and health insurance for leaving the country;
• legal advice (professional legal support on visa and migration issues);
• Green Card - compulsory car insurance for traveling abroad

To order, you need to fill out an electronic form and make a payment, after which the finished insurance document will be sent to the specified e-mail within 30 minutes.

The website also contains the necessary and most up-to-date information on:
• rules of crossing the Ukrainian border by foreign citizens;
• rules of entry of Ukrainians to 200 countries of the world for tourism, work (business), study or immigration purposes;
• visa information.

All information on the website is updated daily and is available in three languages - Ukrainian, English and Russian.

Customer support (English speaking) is available - online chats (around the clock) and a call center (08:00-21:00 Kyiv time) - if you need clarification of the information provided or prompt assistance in resolving problems and misunderstandings related to ordering.

The portal was developed by the Ukrainian organization Visit Ukraine.
VisitUkraine is a public union that, since 2018, has been engaged in the promotion and popularization of Ukrainian tourism on the domestic and foreign markets, but the war made its adjustments. Now we are working on the information front.

In addition to the help portal, we have created several other projects:

Visit Ukraine Tours is the largest online database of tours to Ukraine for every taste.
Visit Ukraine Merch – patriotic clothing and accessories with worldwide delivery.
Cooperation – cooperation and advertising integrations with the Visit Ukraine and Visit World projects.
Visit Ukraine Tickets- purchase tickets for several types of transport - buses, trains (in Ukraine and Europe) and flights (in Europe)
Visit Ukraine Hotel is a search engine where you can easily and affordably book a hotel in a number of Ukrainian cities.
Visit Ukraine Donate is a charity project that organizes fundraisers to support Ukrainians and the needs of the military. Anyone can donate any amount in a convenient way from anywhere in the world. Let's bring victory closer together!

We transfer 25% of the proceeds from the sale to the Armed Forces and aid to Ukrainian refugees.

PUBLIC ORGANIZATION «VISIT UKRAINE»
01012, Kyiv, Independence Square Street, 2 , office 814-А
01001, Kyiv, Krestovy lane, 8/9
EDRPOU 41805188
Tel: +380939724145
[email protected]

Cooperation

Our partners

Cooperation with guides and tour operators

Visit Ukraine is a service portal where every user can get up-to-date information on entering Ukraine for citizens of 200+ countries, as well as purchase extended war risk insurance, train/bus/plane tickets, branded merchandise and order a safe tour of Ukraine.

Currently, we have the largest bank of tours in Ukraine and we plan to expand it!

We offer cooperation to guides and tour operators who conduct a tour of Ukraine.
Namely, free placement of your tours on our website.

To get additional information about cooperation - please fill out the form and our manager will contact you!

FAQ

- - What COVID documents do I need to have with me when entering Ukraine now?
    On July 1, 2023, the Ukrainian authorities lifted the quarantine and other restrictions imposed due to the COVID-19 pandemic. From now on, you do not need to provide proof of vaccination, a negative PCR test result or wear a protective mask to enter Ukraine.
  - Is it safe to visit Ukraine during the war?
    Recently, the number of foreign travelers has increased in Ukraine. They visit the country for various purposes: volunteering, participating in humanitarian programs, filming reports or documentaries, setting up a business, etc. There are currently no cities in Ukraine that are completely safe. And although the main fighting is concentrated in the eastern and southern parts of Ukraine, the entire country is subject to regular rocket attacks.
  - What are your safety recommendations before traveling to Ukraine?
    Here are some important tips:
    • Make electronic copies of all documents and save them on your electronic device so that you always have access to them.
    • Find out in advance the curfew time in the region where you are going.
    • Install the Air Alert app on your smartphone and, upon receiving the signal, immediately go to the nearest shelter. You should also do the same if you hear the corresponding signal on the street.
    • When choosing a hotel, consider the availability of bomb shelters.
    • Inform your family and friends about your route and keep in touch with them.
    • Take out health insurance with extended coverage.
    Do foreigners need to register their stay in Ukraine?
    No, if the period of stay in the country is no more than 90 days. If a foreigner arrives for a period longer than 90 days, in this case, he or she needs a temporary or permanent residence permit, as well as registration at the place of residence.
    Can I enter Ukraine with an expired residence permit?
    Yes. Foreigners (except for citizens of the Russian Federation) and stateless persons have the right to enter and legally stay in Ukraine if they have a temporary or permanent residence permit that has expired or is subject to exchange after February 24, 2022.
    How to enter Ukraine with pets?
    Currently, entry to Ukraine with pets is subject to a simplified procedure. Pet owners must provide the following documents to customs:
    • a veterinary passport of the European standard or a certificate of animal health;
    • proof of valid rabies vaccination;
    • a document on the animal's chipping.
    How do I enter Ukraine with my own car with foreign registration?
    Foreign citizens can import cars with foreign license plates into the territory of Ukraine exclusively for their own use. To cross the border in a car with foreign registration, you need the following documents:
    • foreign passport;
    • driver's license;
    • certificate of registration for the car with valid insurance;
    • international automobile insurance card "Green Card".
    Important: foreign nationals with a residence permit in Ukraine may import a car with foreign license plates for their own use after a written declaration and payment of customs duties.
    What happens to foreigners and stateless persons who are not allowed to enter Ukraine?
    Foreigners and stateless persons who are not allowed to enter Ukraine, when attempting to enter Ukraine at a checkpoint across the state border of Ukraine, do not cross the state border of Ukraine and return as soon as possible to the state from which they came or to the state that issued their passport document. If it is not possible to return a foreigner or stateless person immediately, they stay at the checkpoint across the state border of Ukraine until their return.
    What should I do if I have been banned from entering Ukraine?
    If you become aware of a ban on entry to Ukraine while trying to pass passport control at the border of Ukraine, you should politely ask for a decision to refuse to cross the border, indicating the specific reason for the entry ban. You can appeal the decision to deny entry within 30 days from the date of familiarization with it. It is strictly forbidden to argue with border guards or violate the rules of stay at the checkpoint, otherwise you may be held administratively liable. You should remember the rules of staying at the checkpoint.
  Insurance policy
  Is insurance required to enter Ukraine?
  All foreign citizens are required to have an insurance policy covering the costs of Covid-19 treatment in Ukraine.
  For how long do I have to take out an insurance policy?
  According to the Resolution of the Cabinet of Ministers of Ukraine No. 1236, an insurance policy must be issued for the entire period of stay in Ukraine. The minimum period is not specified.
  Where can I get acquainted with the terms of the insurance contract?
  You can familiarize yourself with the terms and conditions of the insurance contract on our website in the section on insurance policy issuance.
  Is it necessary to buy an insurance policy for children?
  Yes, if a child has foreign citizenship, regardless of age, he or she must have an insurance policy for the entire period of stay in Ukraine.
  I am a foreign citizen, can I buy a policy in Ukraine?
  No, the insurance policy must be presented at the border control.
  What is war risk insurance and what war risks does it cover?
  This policy guarantees monetary compensation in the event of an accident as a result of military operations, passive military risks, terrorist acts, including emergency care, outpatient treatment, hospitalization and repatriation of the insured person (or his/her body in case of death) from the place of stay to the place of his/her permanent residence.
  Who can take out insurance?
  The insurance policy applies to foreign nationals, citizens of another state and stateless persons. There are no age restrictions: minors and people over 70 can buy insurance. In addition, insurance is mandatory for journalists, reporters, correspondents, opinion leaders, and media representatives. This is enshrined in the Law of Ukraine on Insurance (Article 7).
  What is the territory covered by the insurance policy covering war risks?
  The insurance policy is valid on the territory of Ukraine, except for the temporarily occupied territories of Luhansk, Donetsk, Kherson and Zaporizhzhia regions and the Autonomous Republic of Crimea, as well as the territories of direct combat operations (front line).
  Are there any restrictions on the validity period of the insurance policy covering war risks?
  The insurance contract comes into force from the moment the insurance premium is paid in full, but not before the date and time of crossing the state border of Ukraine. You choose the duration of the insurance - it depends on the number of days of your stay in Ukraine.
  I can't pay for the insurance, what should I do?
  If your payment fails, we recommend contacting your bank, as they often do not trust payment systems. You need to confirm that it is you who is making the transaction.
  I have taken out insurance, but I have not received a code. What should I do?
  In this case, we advise you to reload the page, clear the cache, change the language on the page, or use a different browser.
  What should I do if the policy does not arrive at the specified mail for more than 30 minutes?
  Please contact the hotline and provide the data that was specified when applying for insurance.
  Do I need to print out the electronic policy?
  You do not need to print out the electronic insurance policy. It is enough to save it to your phone or tablet to always have access to the document and present it to border control representatives.
  What should I do if I have purchased a policy but my trip is canceled?
  Please inform the portal hotline about the reasons for the trip cancellation and we will be happy to reschedule the dates for you.
  What should I do if I provided incorrect data when applying for an insurance policy?
  You can always contact the portal hotline and we will make the necessary changes to the insurance policy free of charge and promptly.