Are you dreaming of a cozy house in Provence or apartments overlooking the Cote d’Azur? In this case, you can take a loan to buy real estate in France .
This is a modern solution for those who have a stable, well-paid job. We will describe the intricacies of obtaining a mortgage loan in the country in this material.
How to take a loan for real estate
It is attractive: today, in order to get a loan to buy an apartment or house in France, it is not at all necessary to come to this country. You can perform many actions remotely with the help of specialists from ArendaLazur TM (Cofrance SARL), for example, to select an object of interest.
The conditions for granting a loan in a French bank are quite attractive: a loan is issued for 7–30 years, the loan amount is 60–70% of the value of real estate. Any citizen aged from 21 to 75 years can apply to the bank.
On average, the interest rate on mortgages in France varies from 2–4% per annum.
It is important that the size of the monthly loan payments do not exceed 33% of your income.
Documents for buying property in France on loan
Requirements for the dossier of French banks are different. Here we will give an example of a standard package of documents for obtaining a mortgage.
Do not forget that all documents must be translated into French, and this must be done by a certified translator, in particular, by Cofrans SARL.
You will need:
- Photocopy of the passport and the original.
- The certificate of civil status (of marriage, divorce).
- Documents confirming that you have housing in France. These may be utility bills, a lease agreement, etc.
- Information about incomes: certificate of work on wages, employment contract, certificate of payment of taxes.
- Bank statement for the last three months.
- Details of the loan in another bank (if any).
- Documents for housing in the property.
- The preliminary contract of home purchase.
- Application for a mortgage in the form prescribed by the bank.
Mortgage loan scheme
After the dossier has been completed and all documents have been translated into French, contact your chosen financial institution. There your application will be reviewed within a month or one and a half, after which, if your candidature is approved, you will receive a document confirming the consent of the bank for mortgage registration.
Keep in mind that you have the right to withdraw your loan application within 10 days from the date you receive consent for a mortgage.
So, we summarize: it is quite realistic to get a loan from a bank in France, you just need to contact a competent company for support and act consistently and carefully. Financial organizations, as a rule, meet the needs of the borrower, trying to offer the client individual loan terms. However, in order for the bank to trust you, all your documents must be in perfect order, and the sources of income are absolutely legal. Good deals!