DMG Finance Centre
The International Mortgage Company. An International Finance Company in France and Spain specialists in funding private and commercial property purchases.
DMG Finance Centre in association with LandBank Mortgages, Fast Credit Direct, The Spanish Mortgages Company and The French Mortgage Company.
Financial products for the purchase of French property and Spanish property, financial products for personal banking.
Mortgage products – France :
You no longer are required to be in France to obtain your mortgage or French bank account.
 With our Société Générale partnership you can apply online for finance for your log home project in France or Corsica:
Do you require a mortgage to buy or to invest in France ?
SOCIETE GENERALE is one of the largest banks in France and serves 22.5 million customers worldwide.
The Société Générale bank offers a centralised bilingual mortgage service guaranteeing rapid approval.
No need to come to France - both loan and account openings can be done through the post / electronically
You may forward your pre-application form to our specialized branch based in Paris where a mortgage advisor will process your request and contact you to complete your mortgage application.
To request your pre-application form contact us by : Email: sg@irl353.com Summary guide.
Main mortgage conditions to non resident customers as proposed by Société Générale A.P.N
Persons concerned
Private individuals of EEC ordinarily resident in the EEC and of which the fiscal address is also in one of the preceeding countries.
Applications accepted by APN
A preliminary sales agreement ( Compromis or contrat de réservation ) should already have been signed on the French property or at least be imminent. All properties must be habitable.
Purpose of Loan
Residential properties only located within mainland France and Corsica, including : main home, second home, all with or without renovation works / improvement. Construction of a new property.
Repayment of existing loan on a French property. Investment Properties.
Leverage ratio
This should not exceed 33 % of the Pre-Tax monthly income including the repayment on the French mortgage
Mortgage Type
Interest and Capital Repayment Mortgage in Euros.
Mortgage Rate
Fixed or Variable Rates capped at +1/-1 and +2/-2 ( based on the 12 month Euribor rate )
Maximum Loan Amount
90 % of the net purchase price ( excluding ALL fees )
Leaseback : 90% of the net purchase price ( excluding ALL fees and VAT )
Minimum Loan Amount
50 000 euros
Terms
Fixed Rate 3 - 25 years ( incl.deferrment period ) Upto age 75
Variable Rate 5 - 25 years ( incl.deferrment period ) Upto age 75
Payment method
Monthly direct debit from the Société Générale current account is mandatory
Security
First Legal charge on the French property
Life insurance
Life insurance cover is mandatory and must be arranged through Société Générale.
Arrangement Fee
1% of the loan amount with a minimum of 700 euros and a maximum of 1 500 euros
Mortgage solutions
CASANOVA FIXED RATE HOME LOAN
RATE
Capital and interest repayment mortgage.
Fixed rate throughout the whole of the term.
FLEXIBILITY
At the end of TWO years:
• possibility to either increase or reduce the monthly repayments
the loan can be extended for a maximum 2 years
the length of the loan can be reduced for a maximum 10 years
• possibility of a ‘payment holiday’ for a minimum of 3 months and a maximum of 12 months (during this period the borrower pays interest and insurance only) The mortgage will be extended for the same length as this deferral period
EARLY REPAYMENT
The borrower is free to make any additional repayments to reduce or pay off the remaining capital. Indemnity: six months of interest on the amount of capital repaid; this indemnity can nevertheless be no greater than 3% of the capital remaining due before repayment. The sum repaid must be at least one tenth of the initial loan amount. This entails either a reduction in the amount of the monthly payments remaining due, or a reduction in the number of repayments due
After the first anniversary date of acceptance you can request the transformation of the variable rate into a fixed rate without incurring penalties or administrative fees.
DEFERRED CAPITAL REPAYMENTS
Requests for a deferral period must be justified i.e renovation works or a VEFA for example.
There are two types :
Partial deferred repayment = Payment of insurance premium and interest during the deferral period. Possible for up to 36 months regardless of the purpose of the loan
Full deferred repayment = Payment of insurance premium ONLY during the deferral period. Possible for up to 24 months ONLY except for VEFA projects where it is extended to 36 months
GOOD TO KNOW : provided all funds have been drawn down, the borrower can request to start repaying the capital at any moment. - Requests should be sent to the Société Générale via registered mail.
Please note; unless the client makes a request to start repaying the capital the full deferral period will be allowed to run its course.
VALIDITY - ACCEPTANCE OF THE OFFER
Validity : 30 days from the date of its receipt by post by the borrower and guarantor where applicable. Acceptance : no earlier than 10 days after reception by the borrower and guarantor
Disbursement of funds : within 4 months of the date of acceptance of the offer
INSURANCE
Death risk is covered up to the 31/12 following the 75th birthday.
Total and irreversible loss of autonomy is covered up to 65 years old.
Payment of the insurance premium starts on the 7th of the first month following the acceptance date of the mortgage offer.
The bank’s administration fees are also debited.
Please note that the opening of a Société Générale current account is mandatory if you intend to take out a mortgage with the bank. You can open a bank account with Société Générale without being in France. Contact us for more information and apply for you bank account online with Société Générale with The French Estate Agency partnership
Other Banking services include:
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Checking accounts
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Investment accounts
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Credit card facilities
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Bridging finance
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Letters of credit
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Online banking
Insurance products :
View Financial mortgages Centre
Contact Group Finance group@irl353.com
Mortgage products - Spain :
Banking services :
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Checking accounts
-
Investment accounts
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Credit card facilities
-
Bridging finance
-
Letters of credit
-
Online banking
Insurance products :
View Financial mortgages Centre
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