Features of Italian and French mortgages, lending!

We help everyone to get loans for housing in Italy, the Cote d'Azur of France. We prepare, check, advise and obtain mortgage lending or just targeted loans.
Some rich residents of the Russian Federation sometimes get bored in their homeland, and they are thinking about moving abroad. To live abroad, one must either move into a hotel, or rent or buy real estate. Since the price of a luxury apartment or other prestigious property can be quite high, some buyers are thinking about buying a home with the help of mortgage lending .

One of the European countries where every wealthy Russian can buy a home with a mortgage is Italy . Local banks help foreigners to conclude a mortgage deal, referred to here as "Mutuo Fondiario".

Buying a home in Italy , every Russian can be absolutely sure that he is acquiring a quality standard. Since Italy is very attractive for tourists, the cost of local real estate directly depends on the fact how much we visit this or that region by visiting guests from different countries. Among the picturesque places of the Italian state, Liguria is very famous.
The most expensive Italian villas and apartments are located in Rome, Venice and Naples and Liguria. Housing in Sardinia or Sicily is cheaper. In the Italian state, houses with vineyards are in high demand.
Before concluding a sale and purchase transaction, a person interested in Italian real estate is provided with an assessment made by an independent appraiser of the value of the objects he has chosen, as well as a notary report, which confirms that this cottage (apartment) is not encumbered. The cost of this documentation is paid by the seller. If the price of real estate suits the buyer, he can either pay for it with his own funds, or apply to one of the local banks for a loan . The second option is practiced more often, since buying real estate with a mortgage is very popular due to loyal credit conditions. In Italy , you can take a loan of 50,000 euros or more, for a period of 25 or even more years. But before contacting the bank, the buyer must make sure that the property he is purchasing is listed in the housing stock of the Italian state (this is confirmed by a special certificate). If the apartment or house is not listed in the housing stock, the bank has the right to refuse lending to the client.

Those people who are interested in a mortgage in Italy need to submit a number of documents to the bank:
  • a copy of the passport,
  • certificate from the place of work,
  • confirming income for the last year (or a document confirming the income of the entrepreneur).
  • You will also need documents confirming the timely payment of taxes, alimony, etc.
  • All these documents must be translated into Italian or English and certified by a notary.
  • Even representatives of the bank may ask for additional documents - a driver's license, a certificate of existing property.

Some of the Russians choose to live not in Italy , but on the Cote d'Azur of France , wondering: " how to get a mortgage loan ?" On the Cote d'Azur in France, in order to obtain a mortgage , the borrower must submit documents to the bank confirming his stable high income.

Each French bank has its own methodology for determining the solvency of a client, but all banks have some general rules. Namely, foreign buyers must make an initial payment, the amount of which must be at least 50% of the price of the selected property. So far, French banks issue mortgage loans to foreigners in only one currency - the euro. The borrower must be at least 21 and not older than 70 years old, he can take a loan for a period of 5 years or 25. The minimum amount of a mortgage loan in France is 30 thousand euros.

By signing the loan agreement, the borrower also buys insurance. Usually its cost is 0.5% of the loan amount.

When a property is selected, in order to apply for a loan, a person needs to submit several documents: a copy of a passport, a birth certificate, any of the utility bills (to confirm the address), an extract from work, etc. Each of the documents must be translated into French by a certified translator (a register of such employees can be obtained from the city hall).