Obtaining a mortgage in France is easier than one may think. There are no special rules for foreign buyers, other than French banks are becoming more aware of foreign buyers and are very keen to lend money at attractive rates and terms. There are many benefits to obtaining a mortgage in France as opposed to your country of residence.
Thanks to a competitive mortgage market and buyer friendly government policies, French mortgage rates are among the lowest in Europe. As a non-resident, you can obtain a mortgage of up to 25 years at 80% of the property value (legally 85% but since the crisis few banks will lend this), and interest rates as low as 3%, which compares favourably to rates in the UK and Ireland.
A French mortgage can only be taken out against the purchase price of the property including the agency commission, and not against other fees such as notaires charges.
When calculating monthly mortgage repayments, potential rental income that will be generated from the new property may not be included. Also as a general rule, monthly mortgage re-payments may not exceed 1/3rd of your net income, however our mortgage broker will be able to advise you in regards to your particular financial situation.
Let us know if you wish to arrange a French mortgage and we will get you the best possible quote.