Albania Mortgages

Mortgages in Albania have surpringsly good terms.

There are now 17 banks in Albania - all of them foreign owned. The advantage of this is that foreigners can obtain mortgages, with relatively good terms, in Albania. As the Albanian property market develops we expect mortgages in Albania to continue to improve over the coming years.

Highlights of the Albanian mortgage market

• 70-80% LTV finance is possible
  
• interest rates typically 7 to 8.5%
  
• 25-30 year terms possible
  
• upfront costs ~2%
  
• mortgages available for self-employed persons
  
• interest only mortgages are available
  

The time taken to obtain a mortgage in Albania is still quite lengthy and can be bureaucratic. That said the process has improved dramatically over recent years as the banks gets more used to dealing with foreigners.
There can be hidden costs/fees when taking out a mortgage in Albania.

Please contact us for a mortgage quote.

Albanian Mortgage Data table

Base rate	5%
LTV Max	80%
LTV Typical	65%
Interest Rates Typical	7-8%
Term Max	30 years
Term Typical	25 years
Bank Fees	2%
Currencies	Euro
Time taken to obtain	6 months
Refinance?	No
Self-employed?	Yes
Non-status?	No
Interest only?	Yes