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DNB Luxembourg S.A, subsidery of DNB Bank ASA, Norway B22374

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Mortgage abroad

Dreaming of the vibrant city life in Cannes or the good life in Provence? The possibilities are endless.

Familie på ferie

  • We can open the doors to your holiday home

  • Loan in the same currency

Contact us

We can open the doors to your holiday home

Looking for a vacation property? Apply for a financing certificate now so you’re ready to buy when you find your dream home.

Dreaming of your own holiday home in France or Spain? As the only Norwegian bank, we offer loans secured by the property itself. Our Norwegian advisors know the entire process and can provide valuable advice and tips on purchasing and financing a holiday home abroad.

We recommend taking out a loan in the same currency as the property is sold in, regardless of the exchange rate at the time of purchase. This is about reducing currency risk, which can have the biggest impact on such an investment.

Vinslott

When buying a property in France, the process is different from what we Scandinavians are used to, but you are well protected by French consumer law. Make sure you have a financing certificate before signing a preliminary agreement. DNB Luxembourg does not require life insurance from borrowers when taking out a loan for French property.

Frequently asked questions about morgage in France

What are the loan conditions?
  • First priority mortgage in the property abroad
  • Maximum loan to value 70 %
  • Maximum duration, 25 years
  • Minimum loan amount for individuals, EUR 150,000
  • Minimum loan amount for companies, EUR 500,000
Can I apply for refinancing based on my existing home?

Yes, it is possible to refinance loans from another bank.

The processes will be different, but our advisers have long experience in finding good solutions.

Please contact us for an informal conversation.

What is important to think about with respect to inheritance and generational change?

Inheritance and generational change are important subjects for many people.

When you buy and become the owner of a property abroad, you have to deal with inheritance rules and taxation in the country where the property is located. Therefore, it may be wise to seek advice from a lawyer early in the purchase process to clarify the implications and find the best solution for you and your family. Please note that the purpose of the loan (financing/refinancing) can have consequences on the tax regime applicable.

A generational change does not necessarily involve high costs. If you intend on buying a property in France, it is important to plan the ownership structure.

To get a total overview of French inheritance tax legislation, we recommend that you contact a lawyer for further advice.

What is the role of the notary public?

In France, the notary public has a key role in both the property purchase and the loan process. All parties must have their own notary, and it is therefore important that you use a notary who speaks a language you understand. We cooperate with notaries in Paris who speak French and English, and who will assist the bank in perfecting the security interest in the property. The loan amount is transferred to the notary in connection with the transfer of the property. The borrower can use the same notary as the bank if he/she so wishes.

The responsibilities of a notary include:

• Acting as a mandatory and unbiased party in all real estate contracts

• Carrying out comprehensive administrative controls (titles, encumbrances, certificate of completion etc.)

• Being responsible for the settlement, the repayment of debt and the registration of the property

• Offering assistance and advice in legal and tax matters

How do I apply for a preliminary mortgage approval?

You can apply for a preliminary mortgage approval even before finding the property you want to buy. A preliminary mortgage approval is a useful document stating the Bank’s willingness to lend you a certain sum of money based on certain assumptions. Once you have obtained a preliminary mortgage approval, you are in a position to act quickly when the right opportunity comes up. Preliminary mortgage approval are not mandatory for the process of finding your dream house; however, preliminary mortgage approval enable potential sellers to be confident in your ability to finance a purchase.

If you have already found the property you want to buy, we will issue a loan offer once your loan application has been approved, and then start the financing process.

Due to the French inheritance law, it could be an advantage to apply for the loan as the same time as you buy the property

Please contact us for an informal conversation.

Can I take up a loan through my company?

It is possible to take up loans through your own company. If you want to mortgage a property owned by a company, the bank will always require a personal guarantee from the main shareholder(s).

A description of the process from A to Z

A property purchase in France takes longer than we are used to inScandinavia. Therefore, it is an advantage to have the pre-qualification letter ready as early as possible. Our advisers will help you through the entire process.

We have listed the main steps below:

  • The loan application is submitted and processed, normally within two to three weeks.
  • A preliminary mortgage approval is sent to you once the loan has been pre-approved.
  • Once you have found the property you want to buy, you send us the signed pre-agreement (compromis de vente) for the purchase. This agreement has a 10-day sole cooling-off period which gives you the opportunity to cancel the purchase without giving any reason, subject to no extra fees.
  • 10 per cent of the purchase price must be paid by the end of the cooling-off period.
  • The bank issues the loan agreement, which must be kept for eleven days before being signed and returned. We open an account for you in DNB Luxembourg.
  • The signed loan agreement is sent to the notary public. The notary will contact you directly to obtain the documents required for -insuring the security interest. This part of the process can take up to three months.
  • A date is agreed for the meeting with the notary, and the loan amount is transferred to a client account with the bank's notary. (Own capital and funds to cover external costs).
  • You take over the property, the security interest is ensured, and settlement takes place in this meeting.

If you have any questions, you are always welcome to contact us.

Does the bank require an appraisal of the property?

An appraisal is always required for properties in France in connection with refinancing (called hypotheque/mortgage in French) and for property purchases > EUR 1 million.

The bank always requires the services of a French appraisal company and will organize this, while the customer pays for the appraisal.

Spania

Tourists keep flocking to Spain like never before, and the Norwegian appetite for Spanish properties seems unstoppable.

We can offer financing and refinancing secured by real estate throughout Spain. Our Norwegian advisors have extensive experience and expertise in this area.

We’re here – meet us in Marbella

The Norwegian appetite for Spanish homes seems unstoppable, which is why DNB Luxembourg has opened its own representative office.

We are committed to being present for our customers, and with the growing influx of Norwegians to this region, we wanted to make it easy for you to meet us even outside Norway.

The office is located opposite the Marbella Club Hotel, where you’ll meet our local colleague Svein Erik Lampe. It’s advisable to book an appointment in advance as he also attends meetings outside the office.

Both new and existing customers are welcome to drop by, whether you want information about the financing solutions the bank can offer or simply fancy a cup of coffee.

If you decide to apply for a loan, our credit department in Luxembourg will take over and guide you safely through the loan process until you can unlock the door to your dream home in Spain!

You’ll find the office on Marbella’s Golden Mile. The address is Edificio Centro Expo, Blvd. Alfonso von Hohenlohe s/n, 29602, Marbella, right across the street from the Marbella Club Hotel.

Frequently asked questions about morgage in Spain

What are the loan conditions

- First priority mortgage in the property abroad

- Maximum loan to value 70 %

- Maximum duration, 30 years

- Minimum loan amount for individuals, EUR 150,000

- Minimum loan amount for companies, EUR 500,000

Can I apply for refinancing based on my existing home?

Yes, it is possible to refinance loans from another bank in Norway or Spain. From a tax point of view and based on the current tax practice in Spain, please be aware that if the purpose of the loan is not considered to be acquisition of a mortgaged property, the debt secured by the mortgage will not be deductible from Spanish inheritance tax, gift tax and wealth tax.

For an assessment of your individual situation, it is recommended that you contact an expert within this field.

The processes will be different, but our advisers have long experience in finding good solutions.

What is important to think about with respect to inheritance and generational change?

Inheritance and generational change are important subjects for many people.

When you buy and become the owner of a property in another country, you have to deal with inheritance rules and taxation in the country where the property is located.

Therefore, it may be wise to seek advice from a lawyer early in the purchase process to clarify the implications and find the best solution for you and your family. Please note that the purpose of the loan (financing/refinancing) can have consequences on the applicable tax regime. Please consult a tax adviser for an assessment of your individual situation.

A generational change does not necessarily involve high costs. If you intend to buy a property in Spain, it is important to plan the ownership structure.

To get a total overview of Spanish inheritance tax legislation, we recommend that you contact a lawyer for further advice.

How do I apply for a preliminary mortgage approval?

You can apply for a preliminary mortgage approval even before finding the property you want to buy. A preliminary mortgage approval is a useful document stating the Bank’s willingness to lend you a certain sum of money based on certain assumptions. Once you have obtained a preliminary mortgage approval, you are in a position to act quickly when the right opportunity comes up. Preliminary mortgage approval are not mandatory for the process of finding your dream house; however, preliminary mortgage approval enable potential sellers to be confident in your ability to finance a purchase.

If you have already found the property you want to buy, we will issue a loan offer once your loan application has been approved, and then start the financing process.

Due to Spanish inheritance tax legislation, it may be an advantage to take up the loan at the same time as you purchase the property.

Can I take up a loan through my company?

It is also possible to take up loans through your own company. If you want to mortgage a property owned by a Spanish or a Norwegian company, the bank will always require a personal guarantee from the main shareholder(s).

The loan process from A to Z

The process to purchase and perfect a security interest in Spain takes approximately four weeks after the pre-qualification letter/loan offer is in place, though this will vary. A dedicated adviser will help you throughout the entire process.

Here you will find the most important steps in the process:

  • The loan application is submitted and processed, normally within three to four weeks.
  • - The preliminary mortgage approval/loan offer is sent to you when the application has been approved.
  • - When you have found the property you want to buy, you make an advance payment covering the appraisal.
  • - The appraisal company appraises the property (this takes six to eight business days).
  • - Our lawyers check the quality of the property and obtain the required documentation.
  • - The bank issues the loan agreement based on the lower of the purchase price and the appraised value.
  • - We arrange for opening an account for you in DNB Luxembourg.
  • -The date for transferring the deed on the property and perfecting the security is agreed.
  • - Settlement for the purchase and additional costs are transferred in cooperation with a lawyer.
  • - The loan amount is transferred to DNB Luxembourg’s client account with a lawyer.
  • - The bank's lawyer pays the loan amount in the meeting with the notary public.
  • - You receive copies of the purchase contract and the deed on the property, as well as the keys to the property

Product list Luxembourg

  • Private Banking

    See what we can offer here

  • Mortgage abroad

    See what financing options we offer

  • Financing

    See what options we offer

  • Asset management

    Create a long-term plan for the future.

  • Legal and Compliance

    Here you’ll find an overview of key documents.