Ref: FBAI1086                                                      Rooms: 3

City: Berlin                                                            Baths: 1

Area: Prenzlauer Berg                                        Type: Apartment

Street: Wörtherstr.                                                Size: 109 m²

Tenanted: no  

This two bedroom apartment has one of the best addresses in Prenzlauer Berg, near to Kollwitzplatz, home of the Saturday market. In this area you will find numerous bars, restaurants and shops.

This modernized apartment is located in a refurbished block dating from 1896.

The property has a new bathroom and beautiful wood strip flooring. The apartment benefits from the high ceiling typical of theses beautiful old buildings and has a light and airy feel.

The apartment is being sold with vacant possession.

Mortgages Available For This Property

Q: What LTV can an investor get?

A: Up to 90% of the purchase price, but this has become a rare exception. Furthermore, an investor has to bear in mind that the higher the LTV, the higher the interest rates charged by banks.

Q: How many and what banks are involved in an enquiry?

A: All banks operating in Germany are in the pool. It has turned out that most finances are arranged with an ever-changing hard core of seven banks, which include mortgage or retail banks.

Q: What is the minimum loan possible?

A: Euro 25,000 – this means that a property should at least have a purchase price of Euro 50,000 because for small flats banks rarely give more that 50% of the purchase price.

Q: What properties can be financed?

A: Almost everything, everywhere: residential, commercial, blocks and single flats in big cities as well as the countryside. The bigger the property (or bundle of properties), the better the sustainable yield, the better the state of the property, the less vacancies and the better the location (macro as well as micro), the higher the LTV which should result. Some properties, however, might unfortunately not be financeable at all. This for example can happen if the sustainable yield is lower than 5%. Important for commercial units: The longer the remaining duration of the lease contract, the better for the LTV.