What are the condition for an Indian to buy a house in Copenhagen

kapilinblue Member

Member since 11 September 2010

kapilinblueMember16 November 2019 12:31:36

Hi Colleagues,
I am coming to Copenhagen next year and want to buy a house there. I think its possible as i am coming on a permanent contract with a Copenhagen company.
My question is that .. if there is any requirement like you have to live in Denmark for a number of years before you could apply for buying a house?
Also, what are the possibilities of Mortgage .. is it like 100% or which % can be mortgage by banks and how much i have to pay if the amount is decided for buying a house.
Also what the % loan rate from the banks there if i apply for a home loan.
Please provide your comments and feedback.

Regards,
Kapil Singh

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Nellie Berg Denmark Expert

Member since 15 August 2013

Nellie BergDenmark Expert16 November 2019 15:41:11

1158

In Denmark, it's most common to borrow money from a realkreditinstitut (mortgage institute). They should have the cheapest rents and the longest payback period. You can get a loan up to 80 % of the purchase price this way.

The interest level itself is low, 0 per cent or thereabout, but don't forget the fees:
What you lose on the swings you gain on the roundabouts.

The rest of the purchase price is to come from your own savings or the bank. How much the bank will charge you depends on their discretion of your ability to pay back the borrowed loan. My guess is that you shall expect about 10 % today or a little more because you are an expat, and the bank won't risk that you will sell your house with a loss and leave the country. It may seem unfair, but it is all about avoiding losses for the bank.

/Nellie