Can I buy with a mortgage?

Buying Austrian property with a mortgage

Can I buy with a mortgage? Yes, and if you buy with a mortgage it is possible to borrow up to 60% of the purchase price. Banks will not lend across boarders, so if you want to buy with a mortgage in Austria then you will need to borrow from an Austrian bank. Variable interest rates are around 2%, and it is possible to take fixed rate mortgages for up to 20 years. We can recommend banks in all ski resorts as we have contacts throughout Austria.

Tax advantages
There may be tax advantages to taking a mortgage to buy your ski property. If you rent your property it is possible to offset the interest on your mortgage payments against profits on your rental income. You can also write off up to 10% of the costs of your furniture as depreciation against your rental income each year, reducing your tax liability.

What are the costs for taking a mortgage?

Banks will charge a set-up fee and this is usually around 2% of the value of the loan. They also charge an appraisal fee of 0.5%. You will also need to pay the notary a 1.5% fee of the amount of the mortgage to register the mortgage lender in the land registry.

Other financing possibilities
There may be other options available to you to finance buying a ski property in Austria. For example, you could borrow against an existing property you own and then make your purchase as a cash buyer.

International transfers and foreign exchange dealings

When you are buying a ski property in Austria and making international money transfers, fluctuating exchange rates can make a difference to the final amount you receive in your bank account. 

We work closely with a leading currency exchange expert for all of our client’s money transfers, international payments & foreign exchange dealings. Our contacts consistently provide bank-beating exchange rates to help both companies and private individuals achieve significant savings. To find out more please contact us.

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