6. French Mortage Lending Terms

1. 6.1. Mortgage Application
2. 6.2. Loan to Value
3. 6.3. Income
4. 6.4. Interest Rates
5. 6.5. Fees
6. 6.6. Mortgage Protection

6.1. Application for a French Mortgage

It is clearly going to make sense to organise the finances as best you can before you get near to actually making an offer on a property.

We appreciate that this is not always easy if you do not have a clear idea of what you want to buy and how much you want to spend.

Nevertheless, whether you are remortgaging or proposing a mortgage on the French property, most mortgage lenders are able (sometimes reluctantly!) to indicate the amount they would be prepared to offer through a pre-approval mortgage certificate, which you can waive under the nose of the agent or seller.

If you actually want a firm offer of a French mortgage then you are going to have to sign the contract for the house before this can be done. Lenders will not grant a firm mortgage offer without a signed contract and they will be reluctant to hold an offer open for more than a month or so.

In terms of documentation the lender may well want to see, at least, the following documents:

• Passport;
• Marriage certificate
• Tax notice;
• Salary/Wage slips;
• Sale contract;
• Proof of deposit;
• Last three months bank accounts;
• Audited annual accounts (if self-employed).

If you are seeking to include renovation costs in the mortgage, then you are likely to be asked for estimates of work from professional tradesmen.

You can request a quote direct from IFP's Partners - French mortgage property