Despite the fact that in Russia there are many credit institutions, the Russians often prefer to take a loan abroad. That is, several reasons. The loan market abroad began to develop much earlier than in our country, so the service in foreign countries is focused on the client, and interest rates are significantly lower than in Russia. In Europe, much attention is paid to mortgage lending, in each country various requirements are presented to foreign borrowers.
1
Different banks require a different package of documents. The most important documents are a passport and birth certificate. Credit abroad can be taken in any currency. The deadline for which the loan is issued, can also be different. Monthly payment should not exceed 30% of the income of the borrower. The client has the right to independently contact the bank for a loan or resort to the services of intermediaries.
2
Relations in different banks of Europe are different to borrowers. The most loyal to foreign clients includes banks of Cyprus, France and Spain. They have rather low interest rates. Banks of Germany, Slovakia, Greece and the Czech Republic are loans only by residents of the European Union. And in order to take a loan, for example, in Italy, the borrower must have a residence permit.
3
To make a loan abroad without any problems, the borrower should be creditworthy and have a good credit history in his country. All submitted documents are studied by credit organizations thoroughly for a long time. The borrower will need to immediately make an initial contribution of 10-30% of the loan amount.
4
In Cyprus or in Spain, it is very profitable to take a mortgage. Now many Russians have real estate in Cyprus. And this is not from an excess money, but, on the contrary, from the consideration of savings. Abroad practiced three models of mortgage lending. Expanded-open model allows you to buy ready accommodation. The buyer pays a certain part, the rest pays the bank, and then the borrower pays off with the bank for 10-30 years. With a balanced and autonomous model, the client opens "Accumulative account" in the bank makes money for several years on this. Usually the desired amount for the initial contribution accumulates in account for 5 years, 10% of the cost of housing is paid by the state, and the borrower receives a preferential loan for 15 years. The truncated-open model allows you to take loans in the real estate investment bank. Loan time and interest rates are established for each client individually.
5
If the borrower is in the territory of Europe legally, has official work and income, a good credit history, then make money or consumer credit in another country will not be much labor. Credit secured by real estate Foreign banks are disagreeable, because If the borrower is deported from the country, the Bank will be able to cover its losses due to the laid real estate. If the borrower remains in the country of 6 months, then this period will be considered maximum for the issuance of a loan.
Foreign banks have recently become issued loans for the development of small and medium businesses. In addition, banks prefer to encourage loans to legal entities, so many Russian entrepreneurs draw out loans in foreign banks.
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