HIVE REAL ESTATE – BUDAPEST FINANCIAL SERVICES

Why deal with several different Companies, when you can have one Company, with a designated person who will work with you, on your project and manage it for you. This is especially useful if you do not visit Hungary that frequently.

Use our services, you will save money, and the whole process will be completed on time, within budget and headache free.

If you are buying a property because you want to live in Budapest, buying a property because you want to invest in Budapest, leasing your property long term or leasing your property for short-term holiday lets we can help and advise.

Our Lawyers

With offices on the famous Andrassy Boulevard in the heart of the city centre, our firm of lawyers come highly recommended by several international companies, so you know that you are being given the best service. Lawyers’ fees are normally charged at a standard rate for house purchases, why go elsewhere and take a chance.

For a headache free, simple and secure way to purchasing a property in Budapest Hungary, contact us on hh@hiverealestate.com or telephone us on (44) 01491 874413.

Accountants

If you choose the option of starting a company in Budapest, you will need the services of a Hungarian accountant. This is a requirement under the Hungarian Tax Laws. If you would like us to assist you in finding the right accountant to suit your requirements please contact us on hh@hiverealestate.com or telephone us on (44) 01491 874413.

Mortgages

Hungarian mortgages are very similar to that of the UK. Money is lent to an individual to purchase a property and the banks protect their lending by taking a legal charge over that property. This assures that if the lender does not meet the repayments the banks can re-possess the property. In the UK this usually takes 3 months or longer but in Hungary this can be a complicated and lengthy process, it is for this reason they pay a high level of importance on the calibre of the applicant.

Click here to contact Connect Overseas for Mortgage Advice

The Process

1. We recommend that you discuss your requirements and eligibility before proceeding with a purchase if a mortgage is required

2. You will be given an outline of the mortgage and asked to complete a confidential information form

3. An agreement in principal is given by the lender based on the information given by the client. You will then be sent a full information pack. If you are happy to proceed you return some documents together with an application fee of 395 GBP

4. Your application is then processed, life cover and property insurance arranged and the liaison between all parties including your chosen solicitor until the purchase is complete

5. Your application is then processed, life cover and property insurance arranged and the liaison between all parties including your chosen solicitor until the purchase is complete

New Builds

New Builds must have been issued with the certificate of usage and the title deeds before the lender will release funds. A bank account must be opened with the individual lender chosen. If a personal mortgage is required, married couples must have a joint mortgage although they do not have to own property in joint names. If a person wishes to buy through an Hungarian registered company (KFT or BT) personal guarantees will be required.

Transferring your money to Hungary

Buying a property abroad can be daunting enough without the added problems of foreign exchange. To help you through this potential minefield we offer an easy to use, free service that really does make foreign exchange simple.

This process is open for both private individuals and corporate clients saving you time and money. Overlooking the dangers of foreign exchange can be a costly experience an example of this is as follows:

A property costing 250,000 EUROS, purchased on 24th June 2005 would have cost 165,175 GBP. However the same 250,000 EUROS purchased on 21st July 2005, less than one month later, would have cost 174,775 GBP, a difference of 9,600 GBP.

We have 7 ways to save you money:

1.Free transfers
2.No commission
3.No minimum trade size
4.Designated currency planners
5.Fixed rates for two years
6.24 hour client services
7.Foreign bank account opening facilities (No receipt charges*) *specified banks only

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