The loan: the best way to finance your purchase.
In France, Monaco, and throughout Europe, foreigners can obtain a mortgage and a Lombard loan, opening up new possibilities for real estate purchases. When a property purchase is financed with a loan, you should be aware that the bank can make a decision within up to two months of receiving a complete set of documents. A deposit is placed with the bank, and a 100% loan is issued at a fixed rate agreed upon with the bank or at a variable rate of EURIBOR plus a 0.8-2% bank commission. The loan is secured against the property for a term of 5 to 20 years. Each villa or apartment purchase transaction with a mortgage requires an individual approach.
To begin working with the bank, we need a photocopy of the borrower's passport, their professional CV, and a brief explanation of the source of their capital and the funds intended for the property purchase. Once the bank agrees to review a potential loan, we need to complete a loan application form. We provide this document to our clients in clear, easy-to-understand language
Documents required to obtain a mortgage loan
- Photocopy of ID: passport and card of the resident of the country where the borrower lives and pays income tax.
- When the borrower is SCI, you need Articles of Association + KBIS (certificate of incorporation), from all founders and beneficiaries of the company need passports and cards of a resident of the country where they live and pay income tax.
- Bank recommendation letter issued by your bank or banks.
- A letter outlining your professional career.
- A "wealth audit" document filled out by the borrower with proof of income (e.g. portfolio statements issued by the borrower's bank).
- A bank statement for the last 3 months.
- Proof of personal deposit.
- If available, a loan amortisation table.
- When renovation or construction is envisaged, additional consultation is required.
- Mandate to sell existing property to reissue the loan (if in France)
- Other documents proving income from professional activities, financial assets and real estate (e.g. salary receipts, tax returns for the last 3 years)
- Expertise of the immovable property (the bank can organise an expert appraisal if necessary);
- Contract of intent to purchase or contract for reservation of the property.
We provide our buyers with a sample letter of recommendation from the bank and assist in the collection of the package of documents and negotiations with the banks!
All documents must be translated into French. Personal and company incorporation documents require an apostille translation.
We deal individually with each order. We will find the right solutions and specialists for you, we will help you to solve issues related to process design, maintenance and management, we will organise meetings and support for you.
