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Can I get a mortgage to buy the property? |
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Yes, in theory. In principle, an owner of Romanian property has the right to create a mortgage (hypothec) over it. In practice, the mortgage market in Romania is still developing and any prospective purchaser who is using a newly-created Romanian company as the property-holding vehicle will have the practical difficulty of persuading a bank to lend money to a company without any credit history. We have heard of Romanian banks which have a policy of lending only to Romanian citizens. It may be possible for a purchaser to persuade a non-Romanian bank to lend the money but it may be more difficult, at least until Romania accedes to the EU, to secure this only on the Romanian property. It may therefore be more realistic to mortgage or pledge other property outside Romanian to obtain a loan from a non-Romanian bank to purchase Romanian property
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Legal Aspects 
