Mortgage

The financial crisis has fueled consumer interest of USA to foreign property. In 2010, USA citizens were among the leaders in the acquisition of property mortgaged for the European real estate markets, ahead of the traditional buyers from among the English and Irish, and the highest demand for Bulgaria, Egypt, Italy, France and Montenegro. The growing demand for real estate was due to the collapse in prices and the emergence on the market

00047416

of residential properties at more affordable prices.
Foreign real estate
Foreign residential real estate is still attractive for wealthy Russian buyers. The decline in housing prices during the financial crisis in Spain and Montenegro amounted to 20% and in the Baltic States 60-70%. Despite the severe tightening of credit conditions for USA homebuyers mortgage continues to be provided by banking institutions of European countries.USA everywhere
According to analysts, the leadership of USA buyers in this market is due to the fact that very careful residents of foggy Albion have become a lot less to buy property abroad. Today in USA the mortgage instrument is used much less frequently than before, and not every foreign citizen who arrived on a constant residence to USA , will be able to get a mortgage, much less to purchase a business centre or hotel. While in foreign countries make it much easier and faster. Typically, this practice buyers, located close to the financial institutions.Mortgage rates. Overseas interest rates on mortgage loans, and conditions for acquisition of the property remain on sufficiently favorable terms. In comparison with the USA mortgage rates, which fluctuate around 12-15%, rates in Switzerland is 2-2. 7%, Germany 3,8–4,8%, in Spain 4-5%, in the UK 3-6%, in Latvia, Lithuania and Estonia 3,5–4%, in Spain and Portugal, 3-5% in the US 6-7%, Bulgaria 8%, Turkey 10% per annum.

 

Bankruptcy
In previous years a significant number of financial institutions and organizations, both in USA and around the world were declared bankrupt. In turn, most of the major banks have seriously tightened the conditions for granting mortgage loans that almost does not prevent them to lend to their customers. The only difference is that now all the borrowers are verified foreign and Russian banks are much bigger and more thorough than it was before.