Intro
The mortgage process in Croatia is rather complicated because
investors have to purchase their property through a company which
can be a protracted process. This is because you must obtain
permission to purchase from the ministry of foreign affairs which
can take 12-18 months
Availability
Up to 70% LTV mortgages are available over a term of 20 years
and until the age of 65. Rates are from 6.5% and mortgages are
available in euros. The mortgages are calculated on 35% of your net
income minus any liabilities, mortgages, credit cards etc.
Cost
The bank charges a 2% arrangement fee for setting up the
mortgage and there is also a valuation fee. As previously
mentioned, investors would also have to set up a limited
company.
Application Process
The bank require all documents to be fully completed before they
can assess whether or not they are able to lend to you. Although
the bank has a London office this process can take approximately 2
months as all completed documentation has to be sent to the head
office in Austria for processing. We hope that the London office
will soon be able to process applications on site.
Mortgage Finance from Frontiers Financial Services
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