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Expat Mortagage
Easy Credit is Romania's 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. Easy Credit can source flexible mortgage packages for the purchase of Romanian property, either as a second home, to rent out, or to live in .

We have provided numerous mortgage facilities to expatriates/non-residents from the US, UK, The Netherlands, Estonia, Bulgaria etc etc , based on flexible procedures and terms

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 75-85 % of the value of the property (but not more than the balance of the (pre)sales agreement. Therefore "Loan to Value" (LTV) is calculated on 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 EURO while the base rate for RON (ROBOR) is likely to be more volatile.

Income from self employment (from abroad) can be taken in consideration but is subject to status

Bank charges

- Bank's closing fee is a fixed amount (maximum 200 EURO)
- No monthly mortgage administration fees
- No yearly mortgage administration fees
- Life insurance not mandatory
- Early redemption fees don't apply anymore in Romania for tracker mortgages
- Capital and interest repayments only

Other charges

- notary fees (depending on the client's chosen notary)
- property insurance (depending on the client's chosen insurance
  company)

Easy Credit Broker fees


As of January 2010 , we outsource some of our mortgages to an external consultant and an "on application fee" could apply. These fees also now apply for previously signed agreements from 2008 or 2009 or 2010 (which experied) but were prolonged into 2011. This consultancy agreement is in principle valid for a period of 90 days after signing, but can be extended if necessary. Call us for more details on this matter!

We do need to mention that we cannot be held responsible for the seller to delay to property transaction or other 3rd parties causing delays beyond our control.  We furthermore offer 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

We have a particular good partnership with one of our banking partners were documentation is simplified and reduced. In case you are legally employed outside/inside Romania, we can sustain your mortgage pre-approval based on only copies of certain documentation, which can be sent to us 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.


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 principal the same day.

Lending criteria can vary tremendously, we have 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 quickly 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.

Our financial pre-approvals are valid for a period of 45-60 days or even longer! The final approval of our banking partners will depend on the property documentation that needs to be provided to close the mortgage.


Contact us for a free quotation !


Or download our loan application 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



Your home may be repossessed if you do not keep up repayments on your mortgage











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

 
 
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