Advice 1: How to take a loan in Europe

Many have heard about the fact that interest rates on loans in Europe is much lower than in our country. However, few know that the citizens of Russia can apply for a loan in a foreign Bank, not living abroad. However, it is quite a laborious process, but it's worth it.
How to take a loan in Europe
Open a foreign Bank account where you are planning to take a loan. For this you need to go to a country in Europe and visit the Bank branch. Prepare a package of documents, proving the identity and your income. Also does not hurt the guarantee of a reputable company the natural person or the credit institution. The fact is that in Europe, with suspicious Russian citizens, so, with nothing except a passport, you are unlikely to progress beyond simple conversation. It must be remembered that most European banks are required to sign a contract in the Latin alphabet, so think carefully about this option.
Contact the consulting company if you are not able to visit the country of the Bank. They will help you to make a statement and fill out a questionnaire, and then act as an intermediary when opening an account. These services are quite expensive, so please check rate consulting firms.
We will start registration of a loan in Europe. Remember that you go to the Bank on this issue is pointless, with the exception of those who already have positive credit history in European credit institutions. Take your servicing Bank letter that will confirm that you have the ability to pay.
If you are going to borrow the estate, it is recommended to choose an intermediary real-estate firm, and in the case of consumer credit or a loan to buy a business, contact a foreign consulting company. To prove their income in this case, it is the mediator, because it issued the loan, and you are the payer.
Send a request for a loan in Europe, which is seen within weeks. After a positive decision you along with a facilitator will be invited to the Bank branch to sign the loan agreement. Also the loan can be registered in Russia. In this case it will be the Ministry of Finance or the Central Bank of the Russian Federation. It is worth noting that if you receive a loan in Europe without traveling abroad, it is likely that in the end the amount of costs and interest is comparable to the cost of Russian loans.

Advice 2 : How to take a loan abroad

Recent years become popular to take loans in foreign banks. The main advantage – low interest rate, averaging 4-6% per annum. The process of providing loan for the border is the same as in our country. The Bank verifies the creditworthiness of a potential borrower, assessing the collateral, one of the conditions of contract is compulsory insurance of property, property is registered. The interest rate will slightly fluctuate depending on the financial condition of the client.
The Bank
You will need
  • Passport, birth certificate may need to collect additional required Bank documents, including a certificate of regular income, to fill the provided questionnaire.
The loan can be taken in any currency of your choice. Maturities vary from 10 to 30 years, place on smaller terms is not profitable, because mortgage payments are too high. The amount of monthly payments should not exceed 30% of the salary of the borrower.
To obtain a loan from a foreign Bank or through an intermediary, or independently. In Italy, lent is not so easy, the Italian banks can borrow at only half the value of the collateral and the client must have the residence permit. French banks are happy to lend to non-residents and the interest rates they have are quite attractive. Greek banks offer loans only to residents of the European Union, however, as German banks, Czech and Slovak. Cyprus banks to lend to everyone and loyal to be provided by the borrower documents.
Before checking the creditworthiness of the borrower was purely conditional, now the deadlines are slightly increased for a thorough study of the documents of the applicant for the loan.
For the Bank loan is the main source of income. Loan agreement the foreign Bank must contain a description of the procedures for the sale of collateral, the borrower has the full right to sell the property without any approvals from the Bank and the buyer himself to renew the loan. Banks prefer customers who are recommended by any of the local companies. The credit will be issued if the selected Bank determines that you will return with interest without complications the entire amount. Banks are not interested customers who may experience difficulty paying because then they have to resell the collateral.
The credit agreement
Required downpayment from 10% to 30% of the loan amount. You must have good credit history in the banks of their country. If our banks are not made to adapt to a client, an overseas Bank can make concessions. There may be additional costs of reviewing the application, evaluation of collateral, registration of the contract.
Useful advice
Foreign banks welcomed the presence of the employment contract in the country where the credit is issued.
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