To buy an apartment or house in Monaco – means to give yourself the opportunity at any time of the year to enjoy your vacation on the Cote d’Azur, and perhaps even open your own business here.
But it often happens that we do not have enough finances to make our dreams come true. In this case, you can get a loan to buy real estate in Monaco .
Local banks are free to issue mortgage loans to citizens of other countries. You can take a loan and buy housing in both Monaco and in neighboring France.
Mortgage is issued on an individual or organization.
Mortgage rates in the principality are quite low, which makes them attractive to investors. They average from 2.3 to 3.2% per annum. The rate can be both floating and fixed.
It is noteworthy that you are entitled to take on credit for the purchase of real estate in Monaco up to 100% of the value of the object.
Cash is issued for a period of three to twenty years. In order for the bank to start cooperation with you, you should be no more than 75 years old.
List of required documents
First of all, you need to choose a reliable bank in Monaco and study its mortgage programs. When you make your choice, specify which specific documents are necessary for this particular financial institution.
Usually the borrower requires:
- Certificate confirming the income to be obtained at the place of work.
- Information about other loans – if available.
- Information on income from rental housing – if any.
- Original passport and photocopy.
- Bank statement.
- If you take a loan to repair the premises, attach a budget declaration to the dossier. She is a qualified appraiser.
Keep in mind that all documents must be translated into French before being submitted to the bank, and also notarized. The best specialists with years of experience work in the Russian-speaking company ArendaLazur TM (Cofrance SARL).
Property expenses in Monaco
Having issued a mortgage, remember that you have to spend from five hundred to six thousand euros. In particular, you will pay for the valuation of the property, insurance, notary work, utilities, mortgage processing fees, and bank fees for asset management.
In order to avoid possible refusal to issue a loan for the purchase of real estate in Monaco , we recommend contacting Kofrans SARL in advance. In our person you will find true friends who are always ready to help in a difficult situation.
Come live on the Cote d’Azur – a place where everyone becomes happy!