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In this episode , I explain the crucial aspects of financing property in Berlin, especially for foreigners. From securing a mortgage to understanding transaction costs, I discuss everything you need to know about financing property as a foreigner, emphasizing the importance of being financially prepared before starting your property search.  

Key Topics: 

Key requirements for securing a mortgage in Germany as a foreigner (working permit, taxable income, residency status) 

The impact of not having a German working permit or income on financing 

Minimum deposit requirements: 20% for residents vs. 50% for non-residents 

Understanding transaction costs (3.5% agency fees, 6% transfer tax, 1.5-2% notary/legal fees) 

How transaction costs affect your deposit and mortgage 

The importance of working with specialized mortgage brokers for international buyers 

How interest rates may be higher for foreigners and the effect on monthly payments 

The significance of preparing your financing plan before starting property searches 

The need for realistic expectations regarding the size of property purchases based on available funds