Getting a French mortgage

Mortgage services provided by International Private Finance (IPF) are secured against your French property as well as being sourced in Euros.

Although the steps involved in applying for a mortgage (hypothèque) is not dissimilar to the process in the UK, there is one important difference.

A calculation is made of the amount someone is already paying in existing debt, alongside the payments involved with the new mortgage, to ensure that the total amount being paid by someone is no more than 35 to 40 per cent of gross income.

International Private Finance takes this into account and are able to offer advice on what is considered as outgoings, such as personal loans and maintenance commitments.

Mortgage products

A variety of products are available from International Private Finance, with both interest-only and repayment mortgages arranged on a variable or fixed-rate basis, or a combination of both.

Repayment terms can be from 6 to 40 years, however loans must be repaid by the age of 80. Many of the products available do not have any early redemption penalties.

For an idea of the current rates available see the best buy table, which provides a guide to the payments required to service a loan of €250,000 over a 20 year period.

Documents you may need to provide

As you might expect there is a requirement to provide a certain amount of paperwork when applying for a mortgage on a French property.

Again IPF will guide your through the process after talking to you about your particular situation, but as a start you will need to provide:

* Proof of identity & residence

* Proof of income & outgoings

* Bank statements

* Property details

Contact International Private Finance for more details.