The French Riviera is one of the most popular locations for international buyers looking to buy a property in France. The region boasts a series of highlights, including the countryside of Provence and the seaside towns of the Côte d’Azur.
Due to its popularity among locals and foreigners alike, the property market is generally a very strong one. It is an attractive area to buy French property, and there tends to be a wide range of French mortgages available to finance these purchases.
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Information correct as of 25/07/2016
Due to the European Mortgage Credit Directive and new FCA regulation relating to French mortgages, this page is in the process of being updated.
If you would like any information about the French mortgage rates currently available in this region please call the team on +44 (0) 207 484 4600, or request a quote here.
Here are some things to bear in mind before you start considering the mortgages that may be available in France if you are buying on the French Riviera or its surrounding area:
• This is one of the most competitive property markets in France, particularly if you wish to make a purchase in one of the more famous destinations like Cannes or St Tropez. Think about obtaining pre-approval for a mortgage in France, which is a great way to show potential vendors that you are serious about buying in France.
• Because of the competition among buyers on the property market, be prepared for the existing owners to drive a hard bargain. However, there is an upside to this competitive nature of the market: the area is seen as a safe bet and, as a result, the banks’ property valuations tend to be healthy, which removes one potential complication from the buying process.
• Expect to have a wide range of mortgage options to choose from. Both regional and national lenders offer French mortgages on properties around the French Riviera, and there may even be international private banks that will consider your project.
• Should you consider arranging financing with a private bank, this will tend to go beyond a traditional credit-only French mortgage. Rather, the bank will wish to initiate a wider banking relationship and to manage financial assets on your behalf.
• Due to the quantity of tourists who visit the area, you may wish to let your new French home out to holiday makers. Please be aware that this income will not be included by the banks when they assess your French mortgage application. You must prove that you can afford the new French mortgage without needing to fall back on this extra rental income.
• There may be some tax benefits to taking out a French mortgage if you are buying in this area of France. A French mortgage may reduce your exposure to wealth tax and may offset the income tax chargeable on any rental income that the property brings in.
Are you thinking of buying a French property on the French Riviera? Be sure to get in touch with Mortgage France before you visit the region. Our team of specialist French mortgage consultants will explain the different types of French mortgage that are available to you, and will simplify the process to ensure that your purchase goes through without a hitch!