| Mortgages |
|
The mortgage market in France is similar to the UK's - it is mature and sophisticated, with a wide array of financing available, including fixed and variable rates, repayment and interest only options. One of the benefits of a mature mortgage market is that you are able to find out if you can get mortgage pre-approval relatively easily. As mortgages in France are status based the options and products available to each buyer are dependent on individual status. However general guidelines of terms are as follows:
INTEREST-ONLY OR REPAYMENT Interest rates from 4.2% Terms up to 25 years Up to 90% loan-to-value Some French mortgages work on a variable rate and variable term basis. So if interest rates fluctuate the term of your mortgage is extended or shortened in order to keep your monthly payments the same. Investors buying off-plan in France are also protected by a raft of legislation, making it an extremely safe place to buy property. Some mortgage lenders do charge a fee for mortgage setup. In addition you will need to setup a French bank account to both pay local utility and tax bills and make mortgage payments. Most lenders will help you open one directly with the lending bank. You are free to source your own mortgage provider.
OUR MORTGAGE PARTNER We have an excellent relationship with the UCB, formerly known as Abbey National France, who are one of the leading mortgage specialists in France and have the unique advantage of being bi-lingual. The UCB study and pre-approve all of our projects which saves a tremendous amount of time and paperwork when applying for a mortgage. Please note that the level of loan-to-value and interest rate available to you will depend on your financial circumstances as French mortgages are status-based.
For further details please contact Delphine Portier directly:- UCB Delphine Portier International Buyers Department
5, rue Sommellier
P 50378 |
Client Login
Testimonials
Thank you very much for making our dream of a chalet in the French Alps so painless. We are thrilled with the result. you have made the whole process so much easier for us, and we would certainly recommend you and Savoie Chalets to friends and family if and when you do another development. We look forward to having many happy times in St Jean d'Aulps. Ian & Julie Dormer |