Finding a mortgage in France can be a complicated and daunting experience even if you
do speak French. Which bank should I use, do they compete with rates and terms, how
much of a deposit will I need, will they speak English? These are questions we can
answer for you. We evaluate the best and most up to date offers available from a range of
mortgage sources in France and the UK, giving you all the answers you need to decide
which is the most suitable option for you.
10 Key Facts
• As a non French resident you can apply to borrow up to 85% of the purchase price.
• It is necessary to have enough cash to fund the deposit (minimum of 15%) plus the
notary fees (approximately 8%). i.e. 23% of the purchase price in cash.
• Depending upon your age you can borrow for up to 30 years.
• Fixed, variable, capped, repayment and interest only loans are all available in France.
|A Spectrum IFA Group Partner
• There are no specific ‘Buy-to-let’ products but some future rent can be taken into
account when applying for the loan.
• “Income is King!” in order to qualify your income must satisfy the Banque de France
debt ratio calculation.
• Net or Gross income may be used, depending upon the bank applied to.
• There is a comprehensive list of paperwork required for each application.
• Rates vary dramatically from one to bank to the next, typically the best rates are for 80%
repayment loans; the more unusual and flexible the finance solution the more expensive
it tends to be.
• Introductory rates rarely tell the true story of what you will pay long term. Many banks
use the Euribor 3 or 12 month index plus a hidden margin.
We can also offer a range of additional services to ensure your property purchase is completed
satisfactorily and your legal and protection requirements are fully taken care of.
Click Here - to download our Mortgage factsheet
|Steve Grover is a Spectrum IFA Group partner
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