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Getting A Mortgage In Croatia

Should I Get A UK or Croatian Mortgage?

It is possible for foreign buyers to get a mortgage from a Croatian lender, and if you are planning to receive any income or spend a considerable amount of time in Croatia it may be your best choice.

However, the range of mortgage products available is relatively limited compared to the UK, and you should also factor in exchange costs when considering a mortgage in another currency.

Remortgaging your UK home or taking a separate loan or mortgage from a UK lender may be a better option - it is worth talking it over with an overseas mortgage specialist to see what your options are.

Getting Mortgages In Croatia

The mortgages offered to foreign buyers by Croatian lenders are often fairly conservative, especially with regard to the size of the loan. Lenders will typically offer:

• 50% - 60% of the property's value
  
  
• Terms of up to 15 years, or your 65 th birthday
  
  
• Maximum monthly payment of less than 35% of net monthly income
  
  
• Arrangement fees of approximately 3%
  
  
• Repayment only
  
  
• Choice of currency (Euro or Croatian Kuna)
  

Any mortgage taken out will also require you to have a bank account in Croatia, but this can be setup with your mortgage.If You're Employed

Non-status (self-certified) mortgages are not available in Croatia, so employed borrowers will be required to provide full proof of income and outgoings, as well as a legalized copy of their passport.

You'll need:

• Past 3 months' payslips (including official translation)
  
  
• Past 3 months' bank statements
  
  
• Details of other outgoings (e.g. UK mortgage / loan)

Of course, you should also request (or arrange) translated copies of the documents relating to the mortgage policy before you sign them.
If You're Self-Employed

Self-employed buyers will need to provide copies of:

• Last two years' audited accounts
  
  
• Last year's tax return
  
  
• 6-12 months' business & personal bank statements.

It may be necessary to translate some documents and a letter from a chartered accountant detailing your personal drawings from your business may also be required.


Rental Income

While rental is allowed and even encouraged in Croatia, potential rental income will not be taken into consideration with a mortgage application, so you will need to be able to afford the payments without the rental income.

Read On

• Introduction to Buying Property in Croatia

• Buying A Property In Croatia – 4 Easy Steps

• Should I Get A UK or Croatian Mortgage?

• Getting A Mortgage In Croatia

• Other Things To Consider Before Buying In Croatia

• Glossary of Key Croatia Terms

Buying Overseas Property and Foreign Mortgages

Read enough? Just want a quote? To get your best mortgage quote quickly and easily we can put you in contact with a recommended mortgage adviser. It's free, completely confidential and there's no obligation at all. Simply fill out the form below

Value of Property £   (eg 125000) Borrow How Much? £ (eg 92500) Your Mortgage Type    - please select - Re-Mortgage Purchase Buy to Let Overseas   First time buyer? Yes No Have you found property? Yes No Country   - please select - Andorra Australia Bahamas Barbados Belgium Belize Bulgaria BVI Cayman Islands Cyprus Canada Dutch Antilles France Greece Ireland Italy Jamaica Malta Mexico New Zealand Poland Portugal Spain St. Lucia Switzerland Trinidad & Tobago Turks & Caicos USA Other.. Sorry ! The amount you want to borrow is less than £25,000. This is the minimum allowed for a mortgage. But don't worry! You could get the money via a personal loan. I want a free no obligation loan quote Click OK No thanks. I will change my borrow amount to more than £25,000 Click Cancel

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