Getting a mortgage in France is easy if you contact the right people. Indeed, several banks are specialized in helping foreign buyers, as well as French expatriates.
Banks to contact
If you’re buying a property in France and look for a mortgage lender, contact:
- CAFPI
- French Mortgage Expert
- Banque Transatlantique (max LTV 70%)
- BNP Paribas International Buyers
- BlueSky Finance
- HSBC
- AB Private Finance
Maximum LTV (Loan to Value) ratio is said to be 100% for French tax residents and 85% for French non-residents. However, do not be surprised if some banks only offer a 70% LTV, especially post COVID-19.
So, one solution that I heard of (but didn’t do myself) to get fully financed by banks, is to do the following:
- Get a consumer credit (up to €70,000 normally): this will finance the downpayment
- Get a mortgage
- Obtain a loan consolidation with CFCAL (Credit Mutuel ARKEA) : however to work with them, you must contact an intermediary such as CAFPI, MeilleurTaux, Partners Finances, La centrale de Financement, la bourse des crédits. Indeed they don’t take care of incoming requests, so it’s useless to contact them through their website.
Again, I do not recommend this solution, but I heard that many foreigners or French-expatriates have used it over the years. Therefore it might be something to consider, if you do don’t want to finance the downpayment with your owns savings.
Mortgage interest rates
To know more on the mortgage interest rates., check the following:
Mortgage calculator
Another useful resource, is to use a mortgage calculator. Indeed, this will give you an idea of what your monthly fee will be. Check:
Mortgages for foreign buyers
Over 65,000 foreigners purchased a French property in 2018. So you’re not the first foreigner buying a property in France. However, it could be difficult to finance your acquisition…. unless you know who to contact. Indeed, not all mortgage brokers help non-resident buyers, or foreigners.
French Mortgage Expert
French Mortgage Expert helps foreigners and expatriates get a mortgage to buy a property in France. I came to discover their services in 2019, while looking to help two friends, both living outside of France and who wanted to do a rental investment in France.
If you’d like to be in touch with the right person at French Mortgage Expert, fill out the contact form below mentioning as many details as possible:
- Geography (where do you want to buy)
- Budget (how much do you intend to spend)
French Mortgage Expert is a mortgage broker firm that deals with non-residents and expatriates to secure the loan of your dream property in France
french-mortgage-expert.com