After the start of a full-scale war, millions of Ukrainians found themselves abroad – some temporarily, some permanently, and some decided to link their lives with the new country. After the first stage of adaptation, many people have a question: is it possible to buy a home in Europe on credit? In other words, is it realistic for a Ukrainian to take out a mortgage? Answer: Yes, but with a number of conditions that vary significantly from country to country.
A mortgage for Ukrainian citizens in Europe is a complicated but not closed story. It all depends on your residence status, sources of income, credit history (if you already have it in the new country), as well as the conditions of a particular bank. Let’s take a closer look at what options exist in popular countries where the largest number of Ukrainians have moved.
Germany: good rates, but high requirements
Germany offers one of the lowest mortgage rates in the EU — some banks offer loans from 1.9% per annum. At the same time, it is worth understanding: in order to get a loan, you need to have a long-term or permanent residence permit, a stable legal income (mostly at the level of 2,500-3,000 euros per month net per family) and a positive credit history in Germany.
Banks also pay attention to the type of contract (preferably permanent employment contracts) and the length of stay in Germany. If all conditions are met, you can count on financing up to 80% of the cost of housing.
Poland: friendly policy and state support
Poland is one of the most loyal countries to Ukrainians, and this loyalty is also felt at the level of access to mortgages. Foreigners with a Beat Card or temporary protection status may be considered by banks as potential borrowers, especially if they are officially employed.
Interest rates in Poland range from 3% to 6% per annum, but there are government support programs such as Bezpieczny kredyt 2% (in 2023 in high demand), as well as new initiatives with fixed or reduced rates for young families. The minimum down payment is 10-20%, and the maximum mortgage term is up to 35 years. The key factor is the availability of a stable income on the territory of Poland.
Czech Republic: stability and long credit terms
Mortgage rates in the Czech Republic start at 2-3% per annum, the loan term can reach 30 years, and the first installment is usually 20% of the housing cost. A mandatory condition for citizens of Ukraine is a residence permit, preferably a permanent one.
Czech banks carefully study employment history, sources of income, as well as the type of residence permit. Preference is given to those who have been officially working in the Czech Republic for more than 6 months. Some banks allow co-borrowers, so you can take out a mortgage together with a partner or relative, which increases the chances of a positive decision.
Spain and Italy: attractive climate, but harsh conditions
Against the background of other countries, Spain and Italy issue mortgages to foreigners less often and on less favorable terms. The rates here are quite high — from 3 to 7% per annum, and the down payment usually reaches 30% of the cost of housing. At the same time, banks can finance only the purchase of an object that has already been built, and are reluctant to work with apartments at the construction stage.
To get a mortgage, you need to have an official income, a legal residence status, ideally EU residence or citizenship, and a stable employment contract. Many Ukrainians turn to local agencies that accompany deals, but banking bureaucracy remains a significant obstacle.
What should be considered before applying for a mortgage
For people with temporary protection or refugee status, mortgages are less often available, because banks consider them a high-risk group. However, in some countries, in particular in Poland and the Czech Republic, it is possible to get a loan even in this status – on the condition of official employment, stable income and a positive history of stay. In Poland, there is also preferential treatment for Ukrainians within the framework of state programs.
Before applying for a mortgage, you should consider:
– your status in the host country (temporary, permanent, citizenship);
– availability of official work and employment contract;
– amount of the first installment;
– length of stay in the country;
– credit history (if there has already been an attempt to take a loan, issue a card, etc.).
It is quite possible for a Ukrainian to get a mortgage in Europe if you have already integrated into a new environment, have a stable job, a residence permit and certain savings. Currently, Poland and the Czech Republic remain the most accessible. Germany attracts with low rates, but has high requirements. Spain and Italy are attractive to live in, but not to start a mortgage story.
The main thing is to assess your opportunities soberly, consult with lawyers or mortgage brokers on the ground, and remember that even abroad, Ukrainians are gradually creating new homes – real ones, with a key in the door.
