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French property mortgage or loan
Essential Notes - Property and Mortgages in France

Eligibility and criteria

Purchases, refinance, construction and equity release loans available
We typically arrange loans in Sterling or Euros, however other currencies are available if your salary is paid in that currency
Available on a Capital & Internest repayment basist (Interest Only is available but on limitd schemes)
The maximum loan to value for a purchase is 100%,80% for refinance and construction loans, 70% for equity release
Leasback Mortgages are available to either 80% of the purchase price including TVA or 100% of the net purchase price excluding TVA
The maximum term is 30 years - available to age 80
The minimum loan amount is €50,000 with no maximum
All schemes require full documentary evidence of income - 'self-cert' mortgages are not available

Affordability

To qualify for a mortgage in France a calculation is used to establish whether you can afford to maintain the mortgage repayments.

Your existing liabilities, including your UK mortgage or rental payments, loans, credit card payments and maintenance are taken into account, together with the proposed French mortgage payments. All this must not exceed 35% of your monthly gross income. For example, if your gross joint income is £3,500, 35% of this equates to £1225. If your only liability is your current UK mortgage payment of say £500 per month, this would leave a balance of £725 for your French mortgage repayment.

The amount that you can borrow is also restricted by the maximum loan to value as mentioned under Eligibility and criteria.

Proof of income requirements

If you are employed:
Your last three month’s payslips
Your latest P60 and Employers Reference
Your last three month’s personal bank statements

If you are self-employed:
Your last two year's Audited Accounts, Tax Returns and Accountants reference

Your last three month’s personal bank statements.

Other documents will be required and will be confirmed when application forms are sent to you.

Basic financial facts
Max 100% LTV
Max term 30 years
£ 47,000 minimum loan
Repayment and Interest only mortgages
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