Until very recently, foreign (non-Romanian) citizens were virtually prohibited from investing in Romania, including purchasing a second home, with the help of a mortgage. This lack of ability to leverage investment funds has proved to be a major deterrent to many foreign investors.
Romanian property mortgages are available to most foreign citizens with conditions similar to those in there home country. Certain off-plan/pre-construction developments are qualified for mortgages. Mortgages are issued by a Western European bank.
Please find below the general Romanian property investments requirements:
1. Minimum duration of mortgage 5 years, maximum 30 years
2. Evidence of deposit required on all cases
3. Application fee payable on submission of the Romanian Property Mortgage Application
4. Copy of the sales preliminary purchase agreement required
5. Minimum age 21; maximum age at maturity of loan – 75
6. Competitive interest rate averaging 7.5% per annum calculated according to formula found under "Conditions of Credit."
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