French Mortgages

Purchasing a property in France can be an investment opportunity for the future or an immediate new residence.

Being slightly different from the process in the UK, French mortgages have been an extremely popular choice for many UK investors looking to step into the overseas property market.

Step by Step:

• Find a property: whether you are using you’re holiday time to find a property or browsing online, this could possibly be the most important step – try and visit as many French properties as possible before deciding.
• Contact a Financial Advisor: there are many differences and technicalities in the French mortgage system; your financial advisor can inform you of the various options and negotiate the legal system on your behalf.
• Getting Your Mortgage: French lenders will assess the affordability of your application under French consumer law before making a mortgage offer.
• Compromis: this is the legal agreement you will sign which indicates your genuine intention to purchase the property, your advisor should check over this important documentation before signing.
• Cooling off: there is a 7 day period in which the purchaser can withdraw from the contract without penalty
• Documents required: Passport; Marriage/Divorce Papers; Mortgage Paperwork
• Finalising the Deal: the paperwork will be finalised and signed in front of a Notaire, you can assign the power of attorney to have someone sign on your behalf if you are unable to be present at this point.

French mortgage Options:
Similar to the UK, the main two mortgage options are Repayment and Interest Only, however there are other classic French mortgages that you could investigate with your financial advisor, such as Leaseback, Euroswitch and Buy to Let.

Changes in the exchange rate may increase the sterling equivalent of your debt.