In Germany it is possible to take a mortgage loan under 3,5 percent

The laws regulating sphere of real estate, didn't change in Germany already more than hundred years, and the first mortgage contract concluded between Deutsche Bank and the respectable burgher, is dated already 1770. Today mortgage loans in the country stand out on five, ten, 15 and more years under very low percent. Banks, as a rule, develop a mortgage direction, leaning against the internal reserves, instead of on another's "long" money.

Important argument in favor of real estate purchase in Germany today are availability of a mortgage and attractive conditions on mortgage loan reception: rates under loans are rather low and fluctuate from 3,5 % to 6 %. The scheme of acquisition of habitation in Germany is that: if the client has the sufficient sum of money for payment of 30 percent of cost of got habitation, to it offer various objects of real estate. When the choice is made, the necessary documents leave in one of Deutsche Banks. On the positive decision (as well as about refusal in mortgage loan delivery) to the client inform in writing. If it is received kindly, to the client-borrower the account in a creditor bank on which money is transferred opens. Pledge of the bought object of real estate that serves as a guarantee of return of a loan is simultaneously made out. Banks of Germany still give out credits in the same volumes, as well as before crisis. Each arriving inquiry is considered individually. Mortgage can use both Germans, and foreigners. But citizens of Germany have certain advantages: the credit can make to 70 % of cost of real estate, and percent on the credit it is less. Citizens of other countries, whether it be Englishmen, Frenchmen, Russian or Ukrainians, are served on identical conditions. As a rule, to foreigners the mortgage loan no more than on 50 % of a project cost, the average rate of 5-6 % annual stands out. 

Now in connection with crisis cases when the owner of the habitation bought on a mortgage, having lost work are frequent, declares itself the bankrupt, and its house or apartment is exposed on sale, and he with a family moves in demountable apartment. Among acquaintances of the correspondent there is such case. At first at the borrower have died the grandfather with the grandmother, and the family budget has decreased for a considerable part of their pensions. Then it has lost work, and for the salary of the wife, if and it is possible to live to pay monthly the credit for the house it is almost impossible. In Russia would tell: "Misfortunes never come alone". Here the environment of a family suffering financial crash perceives a situation philosophically: «Well, bankrupts to whom doesn't happen? Crisis as - in any way!» And here at other acquaintances – a full order. Apartment have bought in a mortgage seven years ago under 6 % annual, the credit in 120 thousand euro is given out for 20 years. Both work and consequently don't test while problems with loan repayment.