4. French Mortgage Lenders & Brokers

1. 4.1. General Banks
2. 4.2. Mutual Banks
3. 4.3. La Banque Postale
4. 4.4. Specialist Property Banks
5. 4.5. Foreign Banks
6. 4.6. French Mortgage Brokers
7. 4.7. Comparison of Mortgage Rates

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4.1. General French Banks

Credit Lyonnais, BNP-Paribas, Societe Générale and CIC offer loans to their clients. So, if you are not a client, you will need to open an account.

Their rates are not always the most competitive, but if you are an existing client, then there may be scope for negotiation of a preferential tariff.

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4.2. Mutual French Banks

Crédit Agricole, Crédit Mutual, Caisse d’Epargne, Banque Populaire also offer loans to clients.

They differ from the national banks in that they are mutually owned, and their regional nature gives them a degree of autonomy that allows some variations in the offer from region to region.

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4.3. La Banque Postale

This is the banking arm of the French post office, La Poste, which also offers mortgages and is an underused source of finance.

It has only been since January 2006 that they have been granted the unlimited right to offer home loans, and they are determined to make a presence in the market place with low rates and charges.

Accordingly, you are likely to find they will beat the rates and fees of most lenders, but their lending practices may well be more conservative, and the application procedure more long-winded.

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4.4. Specialist French Property Banks

The banks Entennial, l’UCB, Crédit Foncier, Credit Immobilier are not deposit banks, but often offer more interesting and competitive solutions to the nationals or the mutuals.

Crédit Foncier has opened a branch office in the city of London, with an English language website at Crédit Foncier.

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4.5. International Banks

Some of the main UK based banks who lend in France are, Abbey National, Barclays, HSBC, Halifax and Royal Bank of Scotland.

They are all quite aggressive in search of new clients and are certainly worth investigating.

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4.6. French Mortgage Brokers

A growing and potentially interesting source for securing a mortgage is to go through a French broker.

Brokers can often obtain better rates and conditions because of volume discount, or simply because banks do not advertise the rates to which they are prepared to go to.

Brokers also often have good relationships with insurance companies and so can achieve a better deal.

The larger broking firms have bilingual staff, with forms in English and a strong presence throughout France.

Some of the larger national brokers with a good network of lenders are listed below.

The French internet broker CAFPI might be of particular interest to non-French speaking Anglophones as it operates an English speaking office operating out of Basse-Normandie.

• Templeton Mortgage Brokers
• CAFPI

You need to check fees and how they compare to the arrangement fees that may be offered directly by the lender.

As usual, you need to take your time, do your research, shop around, and negotiate.

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4.7. French Mortgage Rates

There are a number of good sites with access to the rates offered by French lenders and with online calculators which simulate loan costs and repayments, giving you general idea of what is available.

Probably the best one available for comparing different offers can be found (in French) at Guide de Credit .

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