Euroburo

Houses, chalets, apartments and businesses for sale in Austria




Mortgages and insurance


Advice on mortgages and insurance

Advice on mortgages and insurance.

 

Should you need finance . .

We strongly suggest that you arrange your finance in Austria. We can introduce you to suitable friendly banks who normally arrange things very quickly.

Rates are cheaper, and sending surveyors out from England or any other EU country and then taking mortgages on foreign property is a rather expensive and messy business. Clients who have tried to finance their purchase from the UK or other countries have usually encountered difficulties. Our agents can usually fix up a mortgage on a holiday property in 48 hours.

If you are buying a business, then you will need to prepare a proper business plan and cash-flow. Banks in Austria are generally supportive of business purchases provided you have done your homework correctly.

They don't like high levels of borrowing as a percentage. 40% deposit minimum over 10 or 15 years is typical.

Banks usually charge 2% of the sum borrowed for arranging the loan and a few months later the land registry issues a bill for your mortgage entry into the Austrian land registry. This is also about 2%.


Insurance

In Austria, the insurance policy "goes with the house". You have 28 days from receiving the final completion papers from the court to decide whether to change insurers or you are stuck with the previous insurance policy.


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For rules, regulations, restrictions, renting-out, pension-transfers and other administrative procedures involved in buying property or relocating to Austria, please visit our more general Euroburo-Austria website.


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