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Mortgage in France

Discussion in 'French Property' started by cade, Sep 22, 2006.

  1. cade

    cade New Member

    Hello Friends,
    We have recently put down a deposit on a house in the South Of France. We are from Ireland and will be using the property for personal use as well as holiday lettings. We have looked into a couple of options regarding a home loan but was wondering if anyone out there had recently taken out a mortgage in France and had any recommendations of banks or financial institutions in France or Monaco.
  2. keath

    keath New Member

    Mortgages in France

    There's a range of mortages available in France - not as many option as in Ireland though! There's no such thing as the 100 per cent mortgage either. (Probably not a bad thing!)

    Anyhow you'll get a bit of info that might help you here:Mortgage Options in France

    Bon Chance!
  3. TH4S

    TH4S New Member

    keath please stop putting other property links on the forum.if you have any information .please share with us all.;)
  4. keath

    keath New Member


    Sorry I didn't know it was a prob!
  5. junditclaire

    junditclaire New Member

    Hello. There are excellent rates offered by GE and Credit Agricole offer some good deals also (fixed and variable). I can put you in touch with an English speaking advisor at either bank on the Cote d'Azur. You can contact me at [email protected]. Depending on the property and how you present your dossier, you can actually get higher than 80% mortgages in France fairly easily, especially if your apartment is going to be rented out.
    Feel free to get in touch so I can get my bank contacts over to you.
    Property in Nice & Property in Cannes
    Property in Nice and property in Cannes
  6. Sabaudia

    Sabaudia New Member


    The process of buying a French property is quite complicate and you can easily loose a lot's of money...for nothing! For your mortgage, for the currency exchange, choosing the wrong bank, the wrong mortgage (which product? which rate?) How does it work concerning the purchase?, the sollicitor? the notaire?
    The only advice I can give you is to work trough a broker (a well known one) who will help you in the process of the purchase, for the mortgage, etc.

    Don't hesitate to contact me if you need any further information, companies name, etc. I've read that we can't put links on this website.

    Sorry for the English mistakes I could have done on this post, I'm french:eek:
  7. CaroleBay

    CaroleBay Senior Member

    Hello There

    Until recently the maximum mortgage for anyone living in EU countries was 85%. For residents of non EU countries up to 80%.

    The mortgage products available from French banks is very limited in comparison to other countries, but there have been some quite significant changes over the past few years, and there are more changes on the way too, such as higher percentage borrowing and longer mortgage term.

    The banks all have their own mortgage products - they all differ.

    On interest rates, mostly they'll work on the 3month Euribor, but occasionally on 1 month or 12 month Euribor rate.
    They will add on their own margin, and again this can be very different from one bank to another.
    Then there is the cost of life assurance, the cost of which will also differ. Finally watch out for the arrangement fees.

    Kind Regards
    Carole Bayliss
    Last edited by a moderator: Jul 18, 2007
  8. barrux

    barrux New Member

    How about some clarity for the newbies...

    What is a 100 percent mortgage, from the investors stand point, and why is the non-availability of it not a bad thing?
  9. CaroleBay

    CaroleBay Senior Member

    To clarify .....

    If the purchase price of the property you want to buy is for eg: 100,000E, and you want to borrow 100,000E - that is a 100% mortgage.

    100% mortgages from French banks are only available to people living and working in France and paying income tax and social charges into the French system.

    For people living in EU countries, the maximum mortgage is 85%.
    For folks living in countries outside of the EU, the maximum mortgage is 80%.

    So .... working on the same example ....

    85% of 100,000E would require a deposit of 15,000E (15%)
    80% of 100,000E would require a dpoesit of 20,000E (20%)

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