With a minimum loan of 80,000euro a loan term of 8 – 30 years plus, you even have the flexibility of suspending the repayments for a period of up to 12 months. You can even use the loan for an Investment Property or a Second Home.

If you’re interested in finding out more about this incredible French Mortgage call Matt or Gael on +33(0)4.92.98.80.70 or complete the Enquiry Form

Terms:

• Payments can be suspended in part or in full at any time upto a 12 month period
• Product can be switched from variable to fixed at any time
• Adjustable interest rate giving security and savings – pls contact our team for more information
• Loan period 8 – 30 years
• Minimum laon amount of 80,000euro
• Primary or Secondary Residents or Holiday Home
• Property Investment
• Home Improvements
  

Purpose of Loan:

• Primary or Secondary Residents or Holiday Home
• Property Investment
• Home Improvements

Interest rate:

• Fixed on a 12 month basis and indexed on the 3-month Euribor
• The rate can be switched from adjustable to fixed at any time

Monthly payments

• Monthly payments are set for 12-month periods. At the end of each period, the payment amount is adjusted based on changes in the reference index.

Notes:
At the end of the 12 months if the index has gone down – the monthly payment remains the same, which means that the capital will be paid off more quickly and the loan duration will shorten. If the index has gone up – the monthly payment increases, but the increase is capped at the rise in the French cost-of-living index. The new payment amount will then be in effect for to the following 12 months. Based on the projected payments schedule, any capital that is not repaid at the end of the initial loan contract may be repaid through an extension of the loan. The loan may be extended for a maximum of five additional years. The bank will bear the cost of any amounts in excess of this contractual framework.

Get Your Loan Approval in 7 Working Days

Property ownership in France

The good news for buyers of Investment Property in France is that there is an abundance of property all over the South of France; a restored Mas, stylish new builds, pieds-a-terre, family villas or even winter sports apartments. Capital appreciation is good and rental yields are strong. There is no better time than 2010 to acquire an Investment Property in the South of France.

A good rental yield from an investment property can be achieved with so many tourists and the enormous quantity of conferences throughout the year especially in Cannes, making the South of France an excellent choice for your Overseas Property Investment.

A long history of prudent lending in France has meant mortgage finance in France is still readily available and great value. Coupled with an approximate discount of 10% on French property prices a year ago – there is no better time than 2010 to acquire an Investment Property in the South of France.

Terms:

• No penalty on early redemption
• Convert to a repayment mortgage at any time with no penalty
• Max term 20 years
• Minimum loan – €100,000
• 40% deposit required

To learn more about this superb Interest Only French Mortgage call Matt or Gael on +33(0)4.92.98.80.70 or complete the mortgage quote form.

These are some of the questions we are asked on a regular basis. It may well be that you live in France and have a good long-term relationship with your high-street bank. If you talk to them about your French Mortgage you might receive a loan offer for your intended purchase which may satisfy your needs but………. it will probably be a mortgage product just from that particular bank.

For the vast majority, and especially non-resident buyers, it is quicker and more effective to use the services of a qualified and experienced Independent Mortgage Broker. An Independent Mortgage Broker can look at your specific circumstances and then look through a panel of lenders and find you the best possible French Mortgage product for your specific requirements. It is also advantageous to choose a broker that is actually based in France. The Mortgage Broker actually based in France has a massive advantage of being able to sit in front of the lending banks and deal with any possible delays in person and quickly. They  naturally have a better personal relationship with the French Bank lending teams. This will all equate to the customer receiving a better and quicker service.

There are some important advantages for the customer when buying a Property in France and looking for a Mortgage in France as a non-resident or even if you’ve lived here for some time.

1. We speak your language and can explain the process to you and communicate with you throughout the process. We will supply all the documentation to you in English. Plus, we’re based in France – just 10km from Cannes and Nice.

2. An experienced Independent Mortgage Broker in France has a panel of lenders which he or she uses to place your French Mortgage loan application with.  These lenders will almost certainly have international departments specialising in dealing with UK and other non-French residents purchasing a property in France. This means that the underwriting teams of these banks will understand non-French tax situations and other documentation that a French High Street bank might simply not know what to do with.

3. Brokers such as French Mortgage Xpress do not charge a brokerage fee. They receive their compensation from the lending bank on completion of the French Mortgage loan process. This fee is not added on to your application. The bank pays this directly to the Broker. The interest rate you receive in your offer will not be higher than if you applied directly to the bank in question. In many cases, the rate will be lower owing to the volume of business that the broker conducts with the lending bank.

4. Owing to the privileged relationship between the broker and the lending bank, your loan application is more likely to be treated within a faster time frame and with more consideration than if you were applying on your own or through a bank branch. The underwriting teams within the French Bank will probably prioritise the applications from your Independent Mortgage Broker.

The above 4 points are crucial to making your whole French Property purchase go as quickly, as smoothly and with the least amount of pain as possible. Plus, you will be getting a French Mortgage product that is matched specifically to your needs and requirements.

Complete the on-line Quotation Request Form now and receive a response within 1 working day!

or call Matt and Gael on +33(0)4.92.98.80.70

Are you working on a Superyacht and looking to purchase a family home, apartment or an Investment Property in France?

2.45% repayment loan, minimum 20% deposit

Captain, Engineer or a Crew Member on a Superyacht

looking for a French Mortgage?

French Mortgage Xpress has been working within the French Mortgage field in France since 2004 and has assisted many clients within the yachting industry to purchase properties in France. Knowing some of the difficulties that a ‘non-tax status’ can bring, French Mortgage Xpress are perfectly placed to offer you a bespoke product designed specifically for people working within the yachting industry and looking for a French Mortgage.

Loan Characteristics
Minimum Loan Amount: €100,000  Maximum €1,000,000
Minimum Down-Payment: 20% of Purchase Price
Interest Rate: 2.45%
Term: 10 to 30 years

Documents Required:

• A photocopy of each borrower’s passport.
• A photocopy of each borrower’s birth certificate.
• Photocopy of marriage certificate if applicable.
• A letter from your captain or management company specifying your position, length of service, and monthly income. If you have been there less than 2 years please also provide a copy of   your previous work contract .
• Justification of your personal contribution (proof of down-payment) eg. bank account statement, building society statement showing you have the funds for down-payment,
• Photocopies of the last 6 consecutive monthly bank statements showing income, loans, mortgages & regular outgoings .If you have more than one bank account please indicate clearly where your salary is deposited each month.
• Details of any existing loans and mortgages (schedule of repayment),
• A copy of your “Compromis de Vente” or Reservation Contract of the property you intend to buy.
• Signed completed application form and health questionnaire.

LOAN APPROVAL WITHIN SEVEN WORKING DAYS

• All Documentation in English
• Experienced Bi-Lingual Staff
• Lowest French Mortgage Rates
• NO brokerage fees
• Unrivaled relationships with the leading French lending banks
• Get a Quotation in 1 working day for your French Mortgage
• French Mortgage Approval Decision within 7 working days

The Cote d’Azur real estate market is showing signs of recovery. Figures released in March by the Chamber of Commerce and Industry, reveal new home sales were 3,598 during 2009, that’s a jump of 45%. Government initiatives and lower French Mortgage interest rates are believed to be behind the revival. Almost 75% of Alpes-Maritimes property deals involve existing homes; with 9,750 transactions in 2009, this sector remained virtually unchanged from the year before.

Unlike the UK, France has a long history of prudent lending. The French banks have not suffered like their UK counterparts, meaning they are more inclined to lend to the foreign Property Investor looking for a French Mortgage who might not have considered France before. This all means a French Mortgage is still readily available and great value.

Considerable French Mortgage product innovation by some leading banks and interest rates at historical lows are driving the UK property investor to look across the channel. Properties in the South of France remain in the buyers favour for 2010.

For further information on financing your French property contact French Mortgage Xpress

or simply complete the Online Quote Request form and get an answer in 1 working day!

Please call us now: +33(0)4.92.98.80.70 or email: info@frenchmortgagexpress.com

The 6 best reasons to get a Loan Pre-Approval for your French Mortgage

1. Getting a formal pre-approval letter from French Mortgage Xpress can tell you the maximum a lender is likely to loan you for your new French Mortgage, which will help you narrow down your property search to within the price range you can afford.
2. You can get an idea of what your monthly re-payments will be for your French Mortgage on your new property in France.
3. You’ll have more credibility with the real estate agents and with vendors if your French Mortgage is pre-approved. Some agents won’t take you seriously until you have the pre-approval. They don’t want to waste their time, or yours.
4. French Mortgage loan approval takes time. If you wait to apply for a French Mortgage after you’ve actually made an offer, you could lose out on the property to someone else who already has the finance in place or has their French Mortgage pre-approved.
5. The lender can often lock in an interest rate, which protects you if rates rise while you are looking for your new property.
6. Pre-approval gives you at least some peace of mind, which you will appreciate during the often stressful process of buying a home, especially one in another country.

Don’t confuse loan pre-approval with pre-qualifying for a French Mortgage. Lenders will often pre-qualify a would-be buyer based on what you tell them about your income, employment and basic credit information, like how much you currently owe on credit cards or other loans. The lender is not agreeing to loan you money or committing to an interest rate. But the process can tell you whether it makes sense to move forward in your home search.

Loan pre-approval is a more formal process. You’ll need to provide your Independent French Mortgage Broker a lot of information about yourself, especially about your income and outgoings and general spending and saving habits.

If you get pre-approved for your French Mortgage, you’ll receive a letter telling you the maximum loan you can get and some sample interest rates you could qualify for.

The first step in arranging this Pre-Approval letter is to complete the on-line French Mortgage Quote Request Form or give us a call on +33(0)4.92.98.80.70

You find a property in France and intend to finance the purchase with a French mortgage using no less than a 20%down-payment from your own funds. The whole process of completing on a French property from the moment you sign the compromis de vente takes around 60 days. Under normal circumstances the formalities for a French mortgage can be in place with a 40 day period.

Consider appointing your own English-speaking notary to coordinate the transaction

Step 2

You will sign the Compromis de Vente (sales agreement), ensuring that it contains the ‘Clause Suspensive’ stating that the purchase is dependant on the obtaining of a French mortgage. If the bank declines the loan then all monies including the deposit will be returned to the buyer in full. There will be a time limit for applying for the mortgage stipulated in the ‘compromis de vente’. Normally this is around 30-45 days.

Normally the date set for signing of the title deeds of the property are set around two months after signing the compromis de vente. This is the time it takes for the notaries and the authorities to take care of all the due diligence procedures associated with transferring the title deeds of a property.

It is important that the financial details of the operation: the loan amount, the name of the lending bank, the interest rate, the length of the loan are defined in the compromis de vente to avoid problems later. In many cases we suggest you fax a copy of the compromis de vente to French Mortgage Xpress so that we can ensure that the financial details of the purchase are correctly defined to protect your interests.

If you do not intend to obtain a loan, you are expected to write in your own handwriting that you intend to give up your rights under the law. This is not always wise, since should you subsequently decide to obtain a loan, and fail, then you will lose your deposit.

French Mortgage Xpress will describe the different types of loans available to you and will help you to select the best type of loan based on your circumstances and the banks’ lending criteria. French Mortgage Xpress will send you a quotation to give you an indication of your monthly payments and will ask you to provide some basic financial details.

At this point you may wish to appoint your own notary to oversee all aspects of the transaction. Contrary to many reports, the appointment of your own notary does not incur any extra costs. French Mortgage Xpress can recommend English-speaking notary services at no extra cost to the purchaser.

Be wary of signing a compromis de vente without an escape clause in the event of your mortgage not being approved.

Step 3

You complete the lenders application form provided by French Mortgage Xpress for a bank loan along with a medical questionnaire and send it to French Mortgage Xpress together with photocopies of the supporting documentation required.

The application form and medical questionnaire will need to be returned in original along with photocopies of all of the other documentation required.

Use the French Mortgage Xpress checklist of documents to be provided. The more complete the documentation, the faster your loan can be processed.

Step 4

French Mortgage Xpress staff check all documents and confirm receipt of documents by e-mail/fax and advise you of any documents still to be provided. French Mortgage Xpress then passes the documents on to the lending bank for a “first reaction.”

French Mortgage Xpress at this point can arrange the opening of a French bank account.

Step 5

The lending bank will provide French Mortgage Xpress with the first reaction. This usually consists of a conditional approval subject to the obtaining of any missing documents from the original list. French Mortgage Xpress conveys this report from the bank to you.

Step 6

You supply missing documentation (if any) to French Mortgage Xpress, which is passed on to French bank. The dossier, once complete, then proceeds to the French bank’s lending committee for final approval.

Step 7

At the same time the bank will authorise an independent evaluation of the property to be purchased. It will be necessary to coordinate with the owner/real estate agent for the independent evaluator to access the property.

Make sure French Mortgage Xpress has the contact details of all the relevant parties in the transaction in order that we can short-cut any potential problems.

Step 8

Within 10 days of receiving all the required financial information, the lending bank will be able to give a decision on your French Mortgage loan application. Often the response is “Yes, subject to medical insurance.

Step 9

Once all the medical formalities have been taken care of the French Mortgage offer will be issued and sent by post usually to your normal address. A duplicate will be sent to your notary so that they can start drawing up the final documents for the title deeds. The notary needs a copy of the loan agreement before he/she can draw up the final documents and will at the same time be able to calculate all the notary fees including the land registry fee which is a percentage of the loan amount. The notary will be able to tell you the exact amount of these fees and you should be ready to pay them by French bank cheque on the day of signing.

Make you’re your local GP completes the medical forms provided by the bank. Most medical officers representing the banks will not accept medical information more than three months old.

Step 10

Once you receive the loan offer contact French Mortgage Xpress who will give you precise instructions on how to complete the acceptation letter and answer any questions you may have about the loan. Remember, under French law, there is an 11 day cooling off period before you can legally accept the bank’s loan offer for your French Mortgage.

Step 11

The loan acceptance offer has been returned to the French bank. The bank will transfer the funds you have borrowed to the notary usually in the 48 hours preceding the date set by your notary for signing the final act. You will arrange for the transfer of the down payment plus notary fees to the notary’s account. The notary is responsible for informing you of the precise sums. Make sure you leave sufficient time for the funds to arrive in the notary’s account; especially if the funds are being sent from abroad. You may wish to use the services of a specialist foreign currency provider to obtain the best exchange rate. French Mortgage Xpress can advise you on this issue.

Ask French Mortgage Xpress for advice on currency exchange and transfer procedures.

Step 12

Congratulations! Finally you sign at the notary’s office. Be prepared for a minimum of two hours at the office. Usually a translator is provided for a small fee, payable to the notary by French bank cheque on the day. It may also possible to sign by proxy; you should set up this arrangement well in advance with your notary.

Note:

Your first French Mortgage repayment will come from a direct debit you have set up with a French bank. Within six weeks the bank will also draw down any bank arrangement fee as stated in the loan offer (usually between 700 and 1200 Euro). You should make sure there are sufficient funds in the French bank account to cover both the first monthly payment and the bank’s arrangement fee.

Remember your property is at risk if you do not keep up your French Mortgage payments!

If you are Intersted in Finding out more about this

Incredible French Mortgage Offer

please call us now: +33(0)4.92.98.80.70 or complete the Enquiry Form

Loan Characteristics

• Minimum Loan Amount: €100,000  Maximum €1,000,000
• Minimum Down-Payment: 30% of Purchase Price
• Rate: 2.7%
• Term: From 10 to 30 year
• Minimum monthly revenue required of €6,000. 

Not suitable for retired applicants. This is an interest-only loan for the first 10 years followed by a second period of a repayment loan for up to 20 years.

Information Required:

• Name
• Age of Borrower(s)
• Nationality
• Monthly Salary (location, currency)
• Savings
• Details of any existing loans (amount, term and monthly payment)

Documents Required:

• A photocopy of each borrower’s passport
• A photocopy of each borrower’s birth certificate.
• Photocopy of marriage certificate if applicable.
• A letter from your employer specifying your position, length of service, and monthly income. If you have been there less than 2 years please also provide information about your previous employer.
• Copies of the last 3 month’s salary slips.
• Justification of your personal contribution (proof of down-payment) eg. bank account statement, building society statement showing you have the funds for down-payment.
• Photocopies of the last 3 consecutive monthly bank statements showing income, loans, mortgages & regular outgoings .If you have more than one bank account please indicate clearly where your salary is deposited each month.
• Details of any existing loans and mortgages plus, proof of ownership (title deeds, solicitors letter etc).
• A copy of your “Compromis de Vente” or Reservation Contract for the property you intend to buy.
• Signed completed application form and health questionnaire

LOAN APPROVAL WITHIN SEVEN WORKING DAYS