The French mortgage market is one of the largest and most sophisticated in the World. It is highly regulated and borrowers are well protected by French laws. Non-resident buyers account for about 4% of property transaction, and, over the years, High Street and Specialist lenders have developed specific propositions to cater for this segment of the market.
French mortgage loans are denominated in euros and are either secured against a French asset or guaranteed by a third party financial institution. Lenders’ decision put a strong emphasis on affordability and the sustainability of the borrowers’ income. French lenders do not have access to Credit Bureau information so it will be important to evidence that your Gross income is at least 3 times as much as the total of your monthly credit instalments.
Most French lenders will happily consider advances to SCI (Société Civile Immobilière) which are special purchase vehicles created to acquire properties.
A large variety of residential mortgage products are available including interest-only and repayment mortgages. They can be arranged on a Euribor tracker or fixed-rate basis
Most French lenders will require that Life and building insurance policies are in place before completion. Your mortgage instalments will be debited by Direct Debit from a French bank account which will need to be in your name and open before funds are disbursed.
Bluesky Finance’s raison d’être is to assist you with the purchase process. We can help you to :
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