Housing loans for foreign nationals in Montenegro
Are you considering a purchase of your dream property in our beautiful Montenegro, a country tipped as one of the fastest growing tourism destinations in the world, which offers unique investment and lifestyle opportunities – all within a three hour flight of major European airports?
Here at ubuymy we are committed to exceptional service – providing you with information, support and guidance you need to make effective real estate decisions in Montenegro, and ultimately becoming a proud owner of the property in Montenegro.
You are not a Montenegrin national but you’ve been considering buying property here and you would appreciate financial support from a local financial institution, but don’t know where to start?
The good news is that a number of Montenegrin banks have recognized the need to offer housing loans to foreigners purchasing a property in Montenegro.
We looked into their offers and listed the basic info below:
Bank Montenegro
- Loan amount: €10,000 to €400,000
- Payment period: up to 240 months
- Nominal interest rate: from 3.99% + 6M EURIBOR
- Loan processing fees: up to 1.00%
- Payment method: monthly
- Insurance instruments: 1:2
Necessary documentation
- Filled out loan application form
- Photocopy of passport
- Confirmation of the employer on employment and wages received in the last three months, last three salary, or confirmation from the client’s home bank on account inflows in the past six months
- Assessment of the value of the property
- Insurance policy of the mortgaged property with a transfer of rights to the bank (upon approval of the loan)
- Open account in Erste Bank
Mandatory insurance instruments
- Bills of exchange of the loan benneficiary;
- Mortgage;
- Insurance of the immovable property
- If the documentation is in a foreign language, it is necessary to submit a translation of the documentation into Montenegro, and certified by a certified court interpreter