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Expat Mortgage in Romania

In case you do not have the time to read all the information below, feel free to give us a call on 0040735887677 (from abroad) or 0735887677 (when in Romania), or through Whatsapp,  to discuss any of your mortgage needs - free of charge -

We speak English/Dutch! 



Leading expert in expat mortgages!

If you're an expatriate/foreigner living or working in Romania or living and working abroad, there can be many financial advantages to owning a home in Romania. The consultant on the matter can source flexible mortgage packages for the purchase of Romanian property, either as a second home, to rent out, or to live in .

Numerous mortgage facilities have been provided to expatriates/non-residents from the US, UK, The Netherlands, Estonia, Bulgaria etc etc , based on flexible procedures and terms. The terms and conditions of mortgages for customers with foreign based income (or foreign domicile) is not subject to the ”no additional fees” as would be applicable for customers with Romanian based income. Due to the complexity of foreign based income mortgage files, this is being externalised to a foreign consultant.

General conditions

We can facilitate mortgage credits for foreigners based on

- income derived from Romania at a Romanian employer
- income derived from outside Romania from a foreign employer

Typically expatriate mortgages for Romanian property are available  up to 85 % of the value of the property (but not more than the balance of the (pre)sales agreement. Therefore "Loan to Value" (LTV) is calculated against the final value of the property (after completion, if this is the case).

Mortgages in Romania can be taken out in different currencies being: EURO and RON. Interest rates vary depending on the currency but the most favourable are the ones in RON. 

Income from self employment (from abroad) or other sources of income, can be taken in consideration but are subject to status.

Mortgage characteristics

- RON or EUR currency
- Capital & Interest repayment
- Variable or fixed interest rate
- Rates starting at 2,95% (variable, RON)
- Maximum term 35 years (until the age of 70 the loan has to be paid back)
- LTV 85% (RON loans) or 75%-80% for EUR loans
- Overpayments allowed (at no additional penalty fee)
- Bank's arrangement fee 0-500 RON (depending from bank to bank)
- No monthly mortgage administration fees 
- No yearly mortgage administration fees (in the majority of cases)
- Life insurance typically not mandatory
- No lawyer needed, due diligence is carried out by the lender at no extra 
  charge

Other charges

- notary fees (depending on the client's chosen notary)
- property insurance (depending on the client's chosen insurance
  company) but typically 0,1% per year on the fiscal value

Fees


All expat-mortgages are outsourced to an external foreign consultant, and this website is for presentation purposes only, and an "on application fee" could apply whereas such contract is not related or subject to local Romanian jurisdiction. EasyCredit is therefore solely a brand name (not a legal entity) that is used to facilitate consultancy by a foreign based consultant in his jurisdiction. This foreign based consultancy agreement to offer assistance in getting a mortgage in place in Romania or in another European countries is in principle valid for a period of 90 days after signing, but can be extended if necessary. 

It needs to be mentioned that the external consultant cannot be held responsible for the customer to not supply the necessary documents or additionally requested documents (from case to case),  the seller to delay to property transaction or other 3rd parties causing delays beyond our control. The consultant furthermore offers full support on not only your mortgage application, but also give off the record legal and tax guidance regarding any issues involved when buying property in Romania.

Documentation

There are a particular number of good partnership with a number banking partner were documentation is simplified and reduced. In case you are legally employed outside Romania (or in Romania), we can sustain the mortgage pre-approval based on only copies of certain documentation, which can be sent in PDF or JPG format for a quick handeling of your file! Certain banks might request the documents to be translated and legalised in Romania at a later moment.


Land issues

We would like to advice our (EU) clients not to set up a Romanian company to own any land involved in a property transaction. First of all the aditional costs of setting up a company (400-600 EURO) and the maintenance
costs (on average 50 EURO/month)are not worth the money in case you could own your land on your personal name!  We as Easy Credit can offer the solution for our (EU) clients to own the land on their personal name without the hassle of starting up a company !

First Class Service.

If you're thinking of buying in Romania or re-mortgaging an existing property please contact us with your borrowing requirements, we can normally get an agreement in 4-5 working days.

Lending criteria can vary tremendously, and the consultant has the ability to assess your individual case and immediately place you with the most suitable lender offering the best possible terms.

When buying any property it is essential that finance is secured first to avoid jeopardising the transaction itself. As an expatriate it is even more important to deal with a specialist who has in depth experience of the expatriate mortgage market.

The financial pre-approvals are valid for a period of 90 days or even longer! The final approval of the banking partners will depend on the property documentation that needs to be provided to close the mortgage.

Of course, if you wish to speak on the phone first, you can dial 00407358876 or 0735887677 (when in Romania) Monday-Saturday from 09:00 - 20:00 Romanian time. We speak Dutch (!), English, and of course Romanian. 


Ask for a free quotation ! 
No fees apply when analysing an application!


It is advisable to download the loan application below and return this by e-mail to stefan@easycredit-bucuresti.ro




0735 88 76 77
or when calling from abroad
+ 40 735 88 76 77



Making Finance Easy!










   
   
   
   
   
Easy Credit
0735 88 76 77 (or 0040 735 88 76 77 when calling from abroad)
stefan@easycredit-bucuresti.ro

 
 
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