Filling out Entenial forms …

Posted by admin in Property Investment, The Companies | December 12th 2004

DETAILED INSTRUCTIONS FOR FILLING IN ENTENIAL BANK APPLICATION FORMS, AND THEIR REQIREMENTS BEFORE GRANTING A LOAN.

I will fax you two sets of forms to fill in. Please do so carefully and return them to me by fax. Keep the copy that you fax, because under separate cover I will send you the original application forms to fill in exactly as you did the faxed copies. (They must eventually go on the file with the bank, although the application can be processed without the originals.)

1. LOAN APPLICATION.
You only need to fill in page 2 and 3, so that’s all I will fax.

Page 2 – there are two columns down the page. On the left, fill in all the information pertaining to the borrower, and in the second column, the co-borrower, spouse or guarantor.
First section – ‘Personal Circumstances’. Simple.
2nd section – ‘About your home’ – tick ‘home owner’ if you are one, address and tel. no.
3rd section – ‘Your occupation and annual income’ – speaks for itself. Fill in the best you can, and don’t be modest about your income – maximize it.
4th section – ‘Your assets’ – list them and value them in Euros. Include farms.

Page 3 – Leave the whole page blank unless you particularly wish to fill in any part of it. Don’t worry about ‘other assets’, ‘other loans’, ‘about the property…’, ’lawyer in charge’, ’details of project’, ‘financing’. All of that Ghislain Sarry and I will fill in for you.
Just sign the bottom, with the date, and importantly, above your signature, please write the words, “Certifie exact et sincere”
Please both sign and both certifie, if there are two of you.

2. MEDICAL QUESTIONAIRE.
You only need to fill in page 2, so I will only fax that page.
Each of you need to fill in one, so I will fax it twice.
If you can without perjuring yourself fill in ‘no’ to all questions asked it will be much simpler. The questionnaire is for loan insurance purposes, and goes off to the insurance company in Paris. If you tell them too much about past ailments you will be asked to provide additional information, and quite likely be sent for a medical.

3. A certified copy of your passports (both of you) – the main page – and in the case of ladies a certified copy of your marriage certificate or birth certificate. The reason is that they are big on maiden names here. They need to see what your name was before you were married.

4 A bank to bank letter of recommendation. It doesn’t matter if it’s a UK bank or a Zim bank, or both. If they will give you the letter then you can return it with the rest, but sometimes banks will only deal on this issue with another bank.
The address for it to be sent to is : Att. Mr Ghislain Sarry
Bank Entenial
16 Blvd de la Republique
06406 Cannes.
Tel : +33 4 9299 5871
Fax : +33 4 9399 3967

5. INCOME.
If you are English then what is required is your P.60. I think that covers it, and a certified copy will be sufficient. (3 years)
If you are from Africa, either a letter from your Accountant certifying that your income for the last 3 years was…x…and…y…and…z….(and that you have your income tax issues under their control). Or 3 years of accounts (with proof of payment of taxes – letter from accountant is OK), or pay slips with proof of payment of income tax.
Your accountant should also specify – date of inception of your company.
– nature of activity.

That’s it! If you are careful the first time, there shouldn’t be any delays or frantic DHL’s back and forth. We want to try to avoid that.

o The term of the loan is normally 15 years though if you wish it can be less.
o The rate of interest at the moment is 3.7% p.a. (adjustable up or down once a year within very strict guidelines and absolutely linked to the ECB (European Central Bank) Rate.
o There is an option to go for a fixed rate at 1 or more % higher. I will find out what that rate is.
o UK and European income earners can apply for a 70% mortgage, and possibly 80% if they provide some extra financial information that the bank will require.
o For South Africans the figure is 60% (can try for 70)
o And for Zimbabwean income earners, it’s 50%, and we can try for 60 if you wish.

Please will you e-mail me by return with all your details, whether you think I have them or not.
Full names – you and your wife/husband/partner.
Residential address
Postal address
Contact numbers and fax numbers.

Thank you so much, and we will get the process through as quickly and painlessly as possible.

Very best regards,

Guy.

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