Can I use a mortgage to purchase a ski property in Austria?
Yes, it is possible to finance your Austrian property with a mortgage.
You can get a mortgage for an Austrian property through an Austrian bank. The application process is relatively simple. Generally, banks will ask for a set of documents translated into German and evaluate your income and the property itself.
Usually, about 50-60% of the property price can be covered by the mortgage, and the maximum term is 20 years. There are no interest-only mortgages in Austria.
There is a mortgage registration fee charged by the Land registry which is 1,1% of the 125% of the loan amount. Thanks to solid public finances, interest rates continue to be some of the lowest in the Eurozone.