FRENCH MORTGAGES

We work closely with a number specialist UK based brokers who have access to all the best mortgage products in France - contact us if you would like a quote.

Obtaining a mortgage in France is quite straightforward, and you will require the same proofs of income and fill in similar forms to those required when applying for a mortgage in the UK. The main difference is the way they calculate the amount you can borrow. They do not use income multiples, but instead will not allow you to have a mortgage whose monthly repayments would exceed 33% of your income. As a general rule for second homes a maximum of 80% of the properties value can be borrowed but more and more banks are offering higher loan to value.

Many British buyers are currently using the recent huge gains in UK property values, and taking out equity release schemes and remortgages on their UK homes in order to buy or invest in France, earning rental income and taking advantage of the continuing growth of property values there.

When you sign the initial sales contract for a French property purchase you will state whether you require a mortgage to be granted on the property. This "clause suspensive" allows you to pull out of the purchase without financial penalty if for any reason you fail to obtain the necessary mortgage.