Purchasing a French property
Buying a property in a foreign country can be a daunting experience. By arranging a French mortgage through Mortgage France, you will get the benefit of our knowledge and expertise about not only financing, but about the buying process itself. Read on for a step-by-step guide to buying in France, à la Mortgage France…
- Keep financing in mind as soon as you start to research properties. Use our French Mortgage Best Buy Tables and French Mortgage Calculator to grasp an idea of what you think you can afford.
- Make sure that you then make contact with us nice and early. We can assess your situation in detail, and advise of the French mortgage options available to you.
- When you have settled on the most suitable mortgage for your requirements, it’s time to apply for an agreement in principle. To do so, you will need to complete the bank’s mortgage application forms and submit them along with a full file of supporting documentation. Don’t worry, we’re here to talk you through all of the paperwork and to help you to put your file together, before dealing directly with our dedicated underwriters at the French bank on your behalf.
- The bank’s agreement in principle brings you the peace of mind that comes with being formally pre-approved for a French mortgage. If you haven’t already done so, now is the time to step up your search for a property in France, and to sign a sales agreement. Feel free to send us a draft copy of that contract, so that we can make sure that the correct clause has been inserted relating to your mortgage.
- The bank will carry out a valuation on the French property and ensure that you have the appropriate life assurance cover in place, before sending you the final mortgage offer. You then have ten full days to review it, before we can advise you on how it needs to be signed before returning it to the bank.
- As completion day approaches, make sure that you have secured the best deals possible for your home insurance and foreign exchange with our specialist partners. We will also help you to open a French bank account.
- Attention now turns back to the property purchase itself. As the date of completion approaches, we will be in touch with the notary to make sure that the bank has been contacted to request the release of the mortgage funds.
- After completion of your French property purchase, you will be free to move in and enjoy your new home. Y our French mortgage repayments will generally commence around a month after the purchase is finalised.
The purchase and mortgage process can be as quick as four weeks, but takes on average around 2-3 months. Remember, your dedicated bilingual French mortgage consultant will be on-hand at every step of the way.