Mortgage in Georgia

One of the most important principles of immigration to other countries is whether it is possible to buy a property with a bank loan in that country or not.

This is an important issue that is very influential in the decision-making process, because it is assumed that a person with the capital of N intends to immigrate to a country and decides to buy an apartment .When he realizes that he can buy an apartment in that country with a bank loan, he saves some of his capital and spends it on something else, which can include buying a car or even starting a business.

Buying a property in Georgia with a bank loan

Terms of obtaining a bank loan in Georgia:

Firstly you need to buy in advance a piece of unbuilt property at an agreed price to be delivered to the buyer at a future date (forward purchase).Secondly you will be Introduced by the manufacturer of that complex to one of the banks of the contracting party with the project owners,After the administrative steps, your loan will be registered and then the bank will receive the loan installments from you.

Bank interest rates vary between 4 and 19 percent, and the bank will charge you a late fee if you do not pay your installments on time.

Regarding the apartment document, I should mention that in some projects, first the house document is registered in the name of the buyer and then the document is mortgaged by the bank, and in some projects, the document is registered in the name of the bank. A contract is concluded between the buyer and the bank and after the full settlement of the document, the name of the buyer is registered.

is important to note that buying a property in Georgia with a bank loan is only possible for people who have a residence card and do not intend to buy a residence permit in Georgia through investment.