Where do I get credit for “zarubezhku ‘: we or they? Source: news-house.ru Everyone knows that it is cheaper to buy a property with a mortgage. However, overseas is beneficial in two ways. First, the overseas interest rate is about 5-6% per annum, well below the Russian interest. Second, the government will know that the money came from the buyer as a result of taking a bank loan with a weighty reputation. The main problem to solve is the location of the bank where you plan to take the credit – in Russia or the place of purchase of real estate. Abroad, there are many banks with different lending terms, but they are more profitable conditions of Russian banks.
The term of the loan is 10-25 years, the amount can be up to 70% of project cost. Russian citizens more willing to make loans in Cyprus, Spain, France and Italy. If the terms of the loan (in Germany up to 10 years in Spain to 15) and the amount of down payment (30-40%) are similar to those of Russian banks, the interest is much lower (in Germany from 4.5% to 5.3% per annum, in Spain and Cyprus from 4 to 5.7% per annum .) According to experts, Spain is the most attractive in terms of lending. Credit can be up to 80% of property value, that too much talk about the low rates. However, after the infamous mortgage crisis, banks have become less willing to lend to foreigners. Decreased maximum possible amount of loans issued (about 50% of property value), interest began to grow. Some analysts also believe that the “generosity” of Spanish banks is associated with stagnation in the country – rising prices and a decrease in customers. Therefore, they welcome all international customers.
In Austria, for example, the state prevents lending to foreign buyers, and not even considering a mortgage. In Russia, almost impossible to get a mortgage for overseas property as necessary to solve problems through the courts of foreign countries. You can take a consumer unsecured loan, but it is profitable only when you have a principal amount for purchase, as its dimensions are usually in the region of 1 million rubles. Advantageous to take a consumer loan secured by real estate in Moscow. And then acquire property for abroad. Normally, such a loan is granted for 5-10 years at 15-20% per annum. In addition, banks in such cases is not as thoroughly checked solvency of a borrower. And the last. Overseas mortgage terms are revised every 2-3 years. Accordingly, interest rate increases with the same regularity. In Russia, the interest on the loan remain unchanged for the duration of the contract. Thus, it is better to buy real estate loans, and take it profitable in a country where going to buy housing. If not, then it is better to take a consumer loan to a Russian bank bail existing housing. Source: forum.news-house.