Let me do some denglish for you. Why? Because it brings fun to all those facts and figures on this website.
Immobiliendarlehen, Hypothek, Immobilienkredit are the most common. The word “Hypothek” is commonly understood in daily life but technically not the right translation for Mortgage in Deutsch. So try the first one: Immobiliendarlehen. Tough cookie isn’t it?
By the way, if you liked the translation of mortgage to German try “Mortgagebroker”.
This means in German: Immobiliendarlehensvermittler.
Quite a mouthful! Don’t stress though, you don’t have to be able to pronounce it in order to get a loan. But knowing these terms might be useful.
If you google terms like Immobilienkredit or Immobiliendarlehen you should find in the end what you were looking for and make yourself familiar with the jargon.
Dolce Vita = Deutsche Mortgage?
It sounds like a crazy comparison, but give me a second.
The Italian Dolce Vita means a unique feeling of people in Italy who love good food, enjoy life, nature, and of course a nice glass of wine.
Hence, Deutsche Mortgage is also something special and unique in Europe. But Unlike Italy, in Germany it has something to do with rules and law.
The Mortgage landscape in Deutschland is pretty unique compared to the rest of Europe, because, surprise, there are pretty strict regulations around it.
This is to avoid the risk of financial crisis in the entire banking sector when it comes to investing, taking out credit, or managing funds.
This is why the Deutsche mortgage process is much more detailed than in other countries. Banks controlled by the national authority BAFIN must make sure that the lender really can afford to take out a loan or credit on a piece of property.
Whereas in other countries Real Estate can sometimes be bought with just the hypothek on the house, that doesn’t go well in Germany.
If there was a financial crisis where people lose jobs and cant afford to pay their rates, while also the real estate market crashes. Nobody could pay back their loans, banks would crash and real estate prices would go 3 meters underground. And even if you managed to pay your mortgage, your property would be worth a lot less than what you paid for. This, we do not want.
This is why I Love Deutsche Mortgage. The whole market is highly regulated and pretty safe. If you apply for a Deutsche mortgage and get granted, you can be sure that you are safe to take it. Because Germans don’t make exceptions from their rules.
Even in Europe we are one of the countries with the strictest policies for investment. You could argue it is very conservative and it blocks economic growth and cashflow in certain corners of the market, but the positive aspect is that everything grows in a stable fashion.
Typical Providers of Mortgage in Deutschland are of course banks like Deutsche Bank, Berliner Sparkasse, Volksbank, Commerzbank and many more.
If you are looking for a mortgage you are always free to go those banks and ask for a loan.
Problem is: you will need to go to every bank to know which gives you the the best rates for your Deutsche Mortgage.
This is where Immobiliendarlehensvermittler come into play. Immo-what? Right, a Mortgage Broker, like me.
I can compare the rates of more than 400 Banks for deutsche Mortgage and offer you the perfect match for your individual needs and select the best rate for you.
I can offer the best rate because I am just by myself without the fancy glass building, and work with a strong partner in the background, who is the market leader for offering loans. The tool I use for comparing has been two decades in the business and is reponsible each year for loans for real estate worth 10 billions in total. So there is enough experience and having a great network with the banks, while staying independent from them.
In fact, most banks have special teams only to work with my tooling partner –making the whole process a lot faster. Because of this market power is why I can offer extremely fast and yet great Deutsche Mortgage at the same time.