Can you buy a house in Romania remotely? Discover Adina's story

Adina Bara is one of the customers who completed the purchase of a property in Romania through Homevest.

Adina is from Oradea and currently resides in the United Kingdom, where she has been working in the medical field for 5 years.

Despite the distance and associated challenges, Adina decided to buy a house in Romania as an investment and to return home at some point. She purchased an apartment in Oradea and plans to buy a second property after completing the mortgage loan.

Can you access a mortgage loan in Romania while working in the United Kingdom?

The process of obtaining a mortgage loan in Romania while working in the United Kingdom comes with additional conditions compared to traditional mortgage applications. Banks are often hesitant to offer mortgage loans to Romanians living abroad, imposing extra eligibility requirements. For example, while Libra Bank requires bank statements for the last 12 months, Credit Europe Bank requests bank statements from January of the previous year until now.

Adina encountered challenges in obtaining her mortgage loan. 

With a busy schedule and limited free time, the requirements of some banks added another obstacle to the process. Numerous document translations and legalizations were demanded by certain creditors, further complicating matters. In search of a convenient solution, Adina chose to collaborate with Libra Bank to secure her mortgage loan.

How do you choose the right bank for your financial situation?

The final decision was greatly influenced by the advantages offered by Libra Bank, including their online and user-friendly communication. In contrast, other banks, such as Banca Transilvania, required document legalization in the United Kingdom by a public notary, followed by another legalization in Romania in the Romanian language. For Adina, this would have meant a longer and more complicated process.

"Homevest suggested comparing interest rates to see all available options and choose the best offer. I was very pleased that, thanks to Homevest, I could easily access the offer from Libra Bank," says Adina.

Adina also explored the possibility of obtaining a personal loan offer in the United Kingdom, where she holds a bank account. While the process was faster, with approval received within a week, the proposed interest rate for a loan of £35,000 exceeded an unjustifiable 16%. Adina decided against this option and determined to gather as much information as possible before moving forward with Libra Bank. She now confidently affirms that she has made the most suitable decision for herself.

Homevest, support in the process of buying property from the UK to Romania

Initially, Adina was skeptical about Homevest and thought it would be better to contact someone from the team before uploading documents to the platform.

One of her main concerns was the safety and security of her personal information. She was aware of the many scams in the online environment and was cautious about sharing her data. "The Homevest team gave me a sense of trust and demonstrated their commitment to protecting and securing customer data. I felt comfortable speaking directly with someone who could provide assistance and answer my questions in real time," says Adina.

Buying a house in Romania with foreign income can be complex and sometimes discouraging. However, Homevest is dedicated to supporting customers by offering comprehensive guidance throughout the mortgage loan process. Through collaboration with Romanian banks that offer mortgage loans to Romanians living abroad, Homevest ensures access to options and advantageous offers for its clients.

The same thing happened with Adina, who, despite starting the property search process a year ago, managed to obtain personalized offers from banks and choose the best mortgage loan for her situation within just 2 months. "Homevest is a reliable partner for those looking to invest in Romania, even when they are abroad. I received the necessary support to understand the banking mechanism and the steps I needed to follow."

By choosing Homevest as your partner, you can rest assured that your situation will be managed by professionals who understand the challenges of living abroad. Continue reading about the experience of Mioara, who has successfully completed the purchase of a property in Romania from the United Kingdom. 

We recommend obtaining professional or specialist advice before taking or refraining from any action based on the content in this article. The information in this article does not constitute legal, tax, or other professional advice from Homevest Limited. Prior results do not guarantee a similar outcome. We make no representations, warranties, or guarantees, whether express or implied, that the content in this article is accurate, complete, or up to date.