Photo: PixabayVacationing in your own apartment or house is something that many people dream about. If you want to take out a loan for the purchase of real estate at sea, that is, abroad, you must have a mortgage as a means of securing the loan.
City Expert credit advisor Snežana Vukmirović explains that not all banks offer loans for the purchase of real estate abroad, but that they can still be found on the market.
"These can be dinar loans that are kept as investments and have a repayment period of 120 months or a housing loan indexed in euros with a repayment period of 360 months. The bank defines the interest rate and other conditions under which the bank lends money to the client in accordance with its business policy," says Vukmirović for biznisz.rs.
She emphasizes that in order to obtain a loan for the purchase of real estate abroad, it is necessary to meet several conditions, the most important of which are employment for an indefinite period, appropriate creditworthiness and a proper credit history.
For loans with this purpose, the mortgage as a means of security must be established on real estate located in the territory of the Republic of Serbia. The client's participation in the purchase of real estate abroad must be at least 30 percent.
Also, Vukmirović points out that Serbian citizens can buy real estate in all foreign countries with which the Republic of Serbia has reciprocity.
Reciprocity implies the right of a natural or legal person from a foreign country to acquire immovable property in Serbia, but under the conditions under which Serbian citizens can acquire immovable property in that country.
Diplomatic reciprocity means that between the State of Serbia and the country of the foreign citizen there is an agreement that expressly provides for reciprocity or there is a most favored nation clause, while factual reciprocity is the right of the foreign state to allow citizens of Serbia to acquire real estate in that country, under the same conditions as their citizens in our country. .
When it comes to the most sought-after destinations for which our citizens take out a home loan, lately they have most often chosen Montenegro, Greece, Turkey, and Italy, Vukmirović states.
Source: biznis.rs
