Do I Qualify

Eligibility and criteria

• Purchases, refinance, and construction loans available
• All loans are arranged in Euros.
• Available on a Capital & Interest repayment basis, but Interest Only is available on limited schemes
• The maximum loan to value for a purchase is 85%, 75% for refinance, 50% for equity release & 100% for construction (as long as the total costs are no more than 75% of the value of the completed property)
• Leaseback 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 25 years – available to age 75.
• The minimum loan amount is €100,000 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 three 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.