Munich Apartment for a UK Engineer at a German Manufacturer
€550,000 · 25 years · 3.90% fixed 15 yrs. A UK mechanical engineer employed on a permanent contract by a major Bavarian automotive manufacturer needed to purchase in Munich.
The Client
UK Expats - Primary Residence
The Challenge
A UK mechanical engineer employed on a permanent contract by a major Bavarian automotive manufacturer needed to purchase in Munich. Germany's rental market had been his first option, but purchase prices versus rents had reached a point where buying made sense. UK credit history, no German banking relationship.
Our Solution
Doulton placed the mortgage with a German Sparkasse (savings bank) in Munich, which assessed the employment contract positively. The German Grundbuch (land registry) process was managed by a Notar. German mortgage underwriting favours long fixed-rate terms, and a 15-year fix was secured at an attractive rate.
The Outcome
Apartment purchased in the Schwabing district. 15-year fixed rate providing long-term certainty. German Grundbuch registration completed by the Notar. Client established permanently in Munich. Key highlights: German Sparkasse relationship utilised; 15-year fixed rate - exceptional long-term certainty; Grundbuch registration managed by Notar.