Income from abroad and a mortgage in Slovakia

Even though you work abroad, it is possible to arrange a mortgage in Slovakia. A solution with the help of a mortgage specialist is advantageous because it allows you to go to the bank only to sign the loan contracts (to which you can also authorize someone else in extreme cases).

If the income is from abroad, it is important to document it. If it is not possible to document the income, there is only one solution – a mortgage without the confirmation of income, which can be up to 50% of the value of the security.

If the income from abroad is verifiable, it is necessary to know the average amount of monthly income for the period of three, six and twelve months – because of the different requirements of each bank. In the case of income from abroad, banks have a different view of the mortgage amount in proportion to the value of the property which will secure the loan.

The confirmation of income from abroad is required through a contract of employment which, depending on the language and bank, needs or does not need to be translated into Slovak. To confirm the income, it is necessary to submit the account statements from abroad and payslips. The application must also contain evidence of the purpose and security of the mortgage.

If the mortgage is to be arranged at the time of your stay abroad, it is important to authorize a person who will represent you, if necessary, in all the necessary steps. It is compulsory to list all the steps required by the bank in the authorization – signing the mortgage application, signing the loan contracts, signing the purchase contract, signing the loan drawdown application, and others.

In the case of a mortgage with income from abroad, the mortgage specialist is also helpful due to the fact that he or she gives handy advice and oversees the whole process as well as the accuracy of the documents for mortgage approval. Your new mortgage can ultimately be faster, more comfortable and easier. If you want to acquire housing in Slovakia while working abroad, you do not need to hesitate.