German mortgage from London: €598,000 with the family still abroad
“Since Brexit we only finance such cases on a very limited basis.” The couple heard this sentence as early as their first meeting with a bank. Moving to Germany from the UK changes some of the paperwork, not the fundamentals of financing.
What was the obstacle for the German mortgage from London, and how was it solved?
The obstacle was the impending move of the family's centre of life from London to Germany after Brexit, not creditworthiness or income; some banks wanted to wait. We documented the whole plan: new residence, the wife's German employment contract, the husband's continued employment, tax situation, equity and reserves. A lender used to cross-border moves committed after barely two weeks.
Who were the buyers?
A British citizen who had run the European sales organisation of a medical-technology company in London for many years, and his German wife, who worked entirely from home.
He was a British citizen and had run the European sales organisation of an international medical-technology company in London for many years.
His wife was a German citizen and worked entirely from home for a German software maker.
After the birth of their second child, they decided to move to Germany for good.
A detached house on the outskirts of Cologne had already been found.
The purchase contract was to be signed two weeks later.
Then came the first rejection.
Before the United Kingdom left the European Union, comparable financings would have been routine for many banks.
Now several lenders asked additional questions.
How long was the residence permit valid?
When would the centre of life actually move to Germany?
Would the income remain in the United Kingdom in future?
Which tax law applies after the move?
How does the employment relationship develop after relocation?
For the family this was surprising.
After all, they were not financing anything out of the ordinary.
Just a home.
Which property was it?
A modern detached house with a large garden in a quiet location close to school: purchase price 782,000 euros, equity 242,000 euros, financing required 598,000 euros.
After almost a year of searching, the family had found a modern detached house.
A quiet residential location.
A large garden.
Short distances to school.
The key figures:
- Purchase price: 782,000 euros
- Equity: 242,000 euros
- Financing required: 598,000 euros
The monthly instalment was even lower than their previous housing costs in London.
Even so, the banks kept asking for new documents.
What was the real challenge?
Not creditworthiness or income, but the impending change in the centre of life: some banks wanted to wait until the family had actually moved to Germany.
It was not creditworthiness that raised questions.
Nor income.
The uncertainty arose from the impending change in the centre of life.
Some of the banks wanted to wait until the family had actually moved to Germany.
The problem:
By then the property would long since have been sold.
How was the case prepared?
The entire future plan was documented first: the new residence, the wife’s German employment contract, the husband’s continued employment, the planned tax situation, equity, household budget and reserves.
This included:
- the new residence
- the wife's German employment contract
- the continuation of the husband's employment
- the planned tax situation
- proof of equity
- a household budget
- evidence of sufficient liquidity reserves
Only through this did a complete picture emerge for the bank.
The solution: Instead of approaching banks that only occasionally handle international relocations, a financing partner was deliberately selected that regularly handles cross-border changes of residence.
All the particulars were explained before submission.
This did away with many follow-up questions.
After barely two weeks the financing commitment was in place.
The purchase contract could be signed as planned.
What does this case show?
That British nationals and families with a UK link can still finance a property in Germany after Brexit; what matters is presenting the future life and income situation clearly.
However, this in no way means that British nationals or families with a link to the United Kingdom cannot finance a property in Germany.
What is decisive is to present the future life and income situation in a comprehensible way and to select the right financing partner.
This case shows that international CVs are assessed more thoughtfully today than a few years ago.
Brexit has changed the requirements of individual banks, but not the fundamental possibility of financing home ownership in Germany.
Anyone who presents their personal situation transparently and relies on a financing partner with experience in international constellations can realise the dream of a home in Germany even after Brexit.
Frequently asked questions
Can British nationals finance property in Germany after Brexit?
Yes. Numerous banks handle such financings.
Is Brexit automatically a disadvantage?
No. However, some banks now review residence, residence status and income situation more closely than before.
Does the move already have to have happened?
Not necessarily. What matters is that the future situation is documented in a comprehensible way.
Can income from the United Kingdom be taken into account?
Yes. The requirement is complete documentation of the income situation.
Can owner-occupied detached houses be financed too?
Yes. Particularly with planned changes of residence, owner-occupied properties are among the most common financing requests.
A similar situation? Let’s talk.
Every case with an overseas link is its own. In a free initial call we will tell you honestly what is feasible and which bank fits.
Anonymised individual case, not a guaranteeable statement for other projects · advice free · commission, as a rule, paid by the bank · §34i GewO · not legal or tax advice · no financing commitment; conditions depend on creditworthiness, lending value and bank
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Editorially responsible: Olga Nikushkina — owner, §34i GewO (German mortgage brokerage), adviser register D-W-132-ZUCB-95. Specialised in German property financing with an international dimension: non-residents, foreign-currency income, cross-border workers, expats. Siegfried Perini is entered in the German intermediary register under this licence as a person directly involved in brokerage and advice (§ 11a GewO), active in real estate since 1992. Not legal or tax advice.
