French Mortgages & Advice for Property Buyers

French Mortgage Advice for Property Buyers

Our specialist French mortgage partners constantly strive to offer the most complete selection of mortgage products available throughout France and Europe for non-French and overseas residents, including non EU residents.

They specialise in sourcing taylor-made mortgage and re-mortgaging packages, equity release and commercial loans for our many clients and investors, and would also consider loans for larger homes and period properties, depending on the LTV, condition, price and project. There are many possibilities and circumstances that come with each buyer; we believe that only when your specific situation has been discussed can you receive the most valuable advice from our overseas financial experts.

Whether it’s help with raising finance or advice on how to minimise your exposure to tax, they provide bespoke packages to enable buyers to secure their dream home in France. If you need legal and taxation assistance our French tax and law partners can assist you with every aspect of buying, working and/or living in France, please contact us for more details.

Mortgage Application Assessment

French banks and lenders must assess if you can afford to take on a French mortgage. This is due to French consumer law and is done by comparing your outgoings (mortgages, loans, credit cards, rent etc.) to your income. Under normal circumstances, providing your income covers your outgoings (including the cost of the applied for mortgage) by 35%, your application should be successful. These days most banks will require a minimum loan amount of 200,000 euros, with a 30% deposit, higher would help the application process. Note that each mortgage lender will assess an application differently based on their lending policies which change throughout the year.

Mortgage Application Timeframe

As with any mortgage, a large amount of documentation is required to process an application. Providing all the required documents are supplied in a timely fashion and the application is filled out fully, a mortgage offer will usually be made within 3 - 4 weeks. Interestingly, one cannot accept a loan offer until the set cooling off period has expired, the banks want buyers to think properly about their decision before accepting their offer.

Life Insurance for French Mortgages

Life Insurance must be taken out to cover 99.9% of French mortgages. Standard French procedure is to arrange this cover at the same time as the mortgage and many lenders will only accept application if this is the case. You don't have to use the lenders loan insurance, apply for a mortgage or loan insurance quote.

To discuss your mortgage requirements, French insurance or other financial needs simply fill out the form on this page.

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