How to make a home loan to buy abroad?
A sunny retreat, a second home, or just want to change the landscape, get credit in France to buy a property abroad is quite feasible. Here are the conditions to know and some tips on how to do it.
Start buying real estate abroad
Spain, Lisbon or Berlin are particularly popular destinations for the French. Of course, all destinations even the most distant are possible. The first thing to do, logical and indispensable, will be to learn about the political and economic context of the country. It will then take information on the real estate legislation in force in his country of destination, but also on financing and opportunities for real estate purchases by residents or non-residents of the country.
Find the answers to all your questions, as laws can vary from country to country. We will also take the precaution to learn about the repatriation and transfer of capital in case we want to resell the property. Finally, pay attention to the tax rules in force, some countries have agreements with France to be subject to French tax laws, and others do not. Your notary or wealth management advisor will be most likely to provide you with this information. Finally, the best advice that can be given before choosing to invest abroad will simply be to go there. Be sure of your choice of destination, go see the good, know the environment, this is the best way to avoid unpleasant surprises.
Take out a loan in France to buy abroad
You will have easily guessed it, obtaining a mortgage in France already requires that we bring certain guarantees to the lending institution, so it will be more demanding for a purchase abroad. For example, the lending institution may request a guarantee in the form of a mortgage on French property. This is not a problem if the upcoming purchase concerns a second home, but if it is not the case, it will be difficult to bring this type of guarantee to the bank. The second option will be to have a life insurance that will serve as collateral in case of unpaid. In short, it is imperative to have something in France that will have sufficient value for the bank. Finally, lending institutions also take into account the socio-economic context of the country of destination.
To invest in stone abroad, it is quite possible to take out a mortgage in a local bank, ie in the country you have chosen. You will need to open a bank account in the country concerned which must be declared to the French tax authorities every year. Be careful, the financing conditions and repayment terms are different from one country to another. If you can not be content with French loan organizations, you can still consider the possibility of taking out a loan in your future country. You will need to learn about the terms of borrowing locally.