Arranging your non-resident mortgage in Estonia

The Baltic State of Estonia joined the European Union in 2004 and since then it has become very popular with non-resident property investors.

Lending is based on affordability and this does not include any rental income from the property to be purchased. The bank requires information from you which is aimed at defining your actual income and therefore your ability to make the mortgage repayments. In general, annual mortgage payments cannot exceed 40-50% of your annual income.

• Types of mortgage: Repayment only
• Minimum loan amount - N/a
• Maximum - none, but must not exceed 80% of the valuation or purchase price (whichever is the lower)
• Proof of income is required in all cases
• If employed - copies of your last six months' payslips and copies of your latest two P60s plus copies of your last 6 months' personal bank statements

• If self-employed -  copies of your last three years' audited acounts and copies of both your last 12 months' business and last 6 months' personal bank statements