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Getting a Mortgage in France

Top tips for Getting a mortgage in France   

Whether you are a UK resident or an expat living and working abroad, if you want to buy a home in France, you will need a French euro mortgage from a local French bank. Getting a mortgage in France might seem daunting, especially if you do not speak French well, so our international euro mortgage service has been designed to help. It is a good idea to be “pre-qualified” before you start to search for your French property to avoid delays later.

Remember, the euro mortgage process in France is more complex, so your application can take up to 8 weeks or more, in some cases.

Here’s how to set about getting a mortgage in France:

  1. Deposit – you will need at a 15% down payment
  2. Don’t forget, you will need a current account to repay your mortgage. We can help you set these up as part of our euro mortgage broking service
  3. To apply for a euro mortgage, you must have an income – a salary, a pension or three years of accounts, if self employed
  4. Affordability is important – the French bank will need to consider whether you can afford the new mortgage. You will be asked about your expenses as well as your income, in particular, about other loans.
  5. Do you want to pay the loan off quickly? There is a wide choice of loan type in France, with some are more suited to early repayment than others.
  6. Have you thought about transferring your deposit? If you need help with foreign exchange, we can refer you to UK regulated specialists whose service is normally free. If you can improve the exchange rate you are offed, that reduces the amount you need for a deposit

Your home may be repossessed if you do not keep up repayments on your mortgage.
Changes in the exchange rate may increase the sterling equivalent of your debt.

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