Ref: FBAI1082                                      Rooms: 3

City: Berlin                                            Baths: 1

Area: Prenzlauer Berg                        Type: Apartment

Street: Hosemannstr.                          Size: 71 m²

Tenanted: no

This vacant apartment, in a well maintained block, was refurbished in 1997 having originally been built in 1910. The property has an excellent, modern fully fitted kitchen. The high ceilings give a light and airy feel to the apartment which also enjoys the benefit of central heating. This third floor, roomy two bedroom apartment offers a great location in an outstanding area of Berlin.

Probably the most sought after property area of Berlin - Prenzlauer Berg. When you want a true lifestyle address then look no further. The variety and quality of bars, restaurants and shops is exceptional. The Saturday market is teeming with young and old professional people finding their fresh vegetables, fish and meat whilst enjoying the odd gluhwein and bratwurst along the way!

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.