The Alps region is one of France’s most reliably popular locations for overseas property buyers. It offers fantastic ski areas, and also has a growing infrastructure to cater for blissful summer breaks.
For this reason, a purchasing a French property in the Alps is seen as a very sound investment and the property market has continued to perform strongly despite the uncertain economic times in recent years.
For these reasons, banks always look positively upon applications for French mortgages involving a purchase up in the Alpine region. The most attractive mortgages in France can therefore all be obtained for such a transaction.
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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 a few factors to consider if you’re thinking about financing your property purchase in the Alps with a French mortgage:
A lot of different French banks offer mortgages in the Alps. This ranges from the main national banks, to local and regional lenders, and even European private banks. It is therefore more important than ever to consult the experts for French mortgage advice, in order to identify the most appropriate lender for your particular circumstances.
There are many offers for new-build properties in the Alps. If you are looking to invest in this sort of a property, it will require a specific French mortgage application. In particular, you will need to provide a GFA (Garantie Financière d’Achevement), which effectively ensures that the construction will be completed even if the property developer finds itself in financial difficulty. Leaseback properties are also very popular in the Alps. Please bear in mind that only certain developments of this nature qualify for French mortgages, so it is always essential to check with a variety of different lenders before finalising your plans.
Construction mortgages in France also have their own special rules. If you are intending to build a chalet, for example, you will need to research these carefully. Did you know, for example, that many elements of the construction simply cannot be completed during the winter months?
Banks are attracted towards mortgages in the Alps due to the strong property market. However, you will have to ensure that your new French property is insurable and that it is not at risk of being damaged by avalanches or rock falls.
Buying a French property in the Alps can prove to be a great source of extra income, if you choose to let it out to holidaymakers when you are not using it. A French mortgage can be used to offset the tax that may apply to this new form of income. Always speak with a tax specialist to make sure that you understand how everything works.
If you’re thinking of making a purchase in the Alps this year, make sure you get in touch with Mortgage France before you visit the region. Our team of specialist French mortgage consultants will put you in the picture regarding the types of mortgages that are available for you, taking you one step closer to the purchase of that dream mountain property!