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 endless 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.
Our experienced mortgage partners are able to offer access to leading providers of international mortgages with the ability to deal with clients from all corners of the world. Whether it’s help with raising finance or advice on how to minimise your exposure to tax whilst maximising your return, they are able to provide bespoke packages to enable buyers to secure their dream home in France and elsewhere in Europe.
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. Many banks will require a minimum loan amount of 100,000 euros, with a 30% deposit. Note that each French mortgage lender will assess an application differently based on their current 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 insurance quote here.
To discuss your requirements about a French mortgage, french insurance or other financial needs please fill out the form on this page.
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