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Monaco Mortgages
Q. How much mortgage can I have to buy a
residential property in Monaco ?
The amount of mortgage you can obtain to
buy a property in Monaco is based
on the valuation or purchase price, whichever is the lower, of the Monaco
residential property, UK and non-UK applicants can borrow up to 85% for
mortgage purchases, re-mortgages for Home Improvements and other purposes,
assuming a minimum mortgage of € 50,000 and no maximum. 90% considered on a
case by case basis.
The term of the mortgage loan is from 7 to
25 years, and could possible be available up to age 80.
Repayment mortgage
of approx € 200,000 over a period of 25 years at a initial discounted
interest rate of 3.45% variable for the first three months and then 1.00%
above EURIBOR thereafter = approx € 1,006.00 capital & interest per month
for the first three months and then approx € 1,108.00 thereafter = a total
approximate amount payable over the term of € 334,974.00 including
capital, interest, arrangement and survey fees.
Monaco Mortgage details:
·
Maximum loan to value 90%
·
Maximum term for a mortgage
in Monaco is 25 years
·
€50,000 minimum Monaco
mortgage amount
·
Monaco mortgages available in
Euros only
·
Repayment and interest only
mortgages available
·
Rates from approximately
3.45%
details are subject to change, so you must check with your
broker on the link above before committing |
