French Mortgages

Mortgages in France

French Mortgages are becoming more and more popular for people buying property in France. The two main reasons I see for considering a French Mortgage are 1) Interest rates are currently ore favourable than in the Uk and 2) Interest rates can be fixed for a long time, even as far as the duration of the mortgage.

The main reason people have not taken Mortages in France in the past has been lack of knowledge and lack of available knowledge and advice in English.

Well I'm pleased to say that this has now changed. Credit agricole, one of France's biggest bank has recently set up a dedicated English speaking mortgage department based in their offices in Nimes, which is only about an hour away from my office in Pezenas.

Frédéric DUVAL and his team have now made the whole process of applying for a Mortgage in France very straightforward.

In order to apply for French Mortgage you simply need to speak to Frédéric or one of his English speaking team and they will explain to you how the process works.

Here is a list of documents that they require in order to start a French Mortgage application;

- 3 last pay slips
- documents showing other income (if any)
- 3 last months bank statements, evidence of deposit + savings
- copy of identity documents (passport...)
- proof  of address : copy of a utility  bill showing your address (electricity bill for instance)
- copy of the last annual tax statement if employee (P60)
- tax certificate if self employed + accountant’s letter to confirm income
- copy of marriage certificate (to show maiden name)

They will also need to see;

- The sale agreement or reservation contract for the house (or the land) you’re buying
- sales agreements for the house you’re selling (if any)
- document showing the value of the house
- title deeds
- payment schedules for your current loan
- quotes (if works or building)
- building permit or an acknowledgement of the request for planning permission (if work or building)

The good news is that they make the whole process very straightforward and not half as scary as you might think. Clients of mine recently took out a mortgage with Credit Agricole Key Finance at a rate of just under 5% fixed for 25 years !!!!

So if the idea of a French Mortgage interests you contact us for more information.

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