Our Going Direct French Mortgage Service is designed for clients wishing to borrow € 50 000 or less to finance a property transaction in France.

The Going Direct French Mortgage Service is equally suitable for any potential borrower who would like help in taking their own application direct to a French lender regardless of the size of the sum required.

Finally, the Going Direct French Mortgage Service is available to help you get your French mortgage application back on track whether you have encountered difficulties with a direct application or a broker managed application, including arbitration concerning disputes over fees (a problem you will never encounter if you use our French Mortgage Service).

How does the Going Direct Service Work?
In many financial services markets, notably Anglo-Saxon markets, there is a clear distinction between fee based and commission based financial advice.

This service is fee based. We will send you a quotation of the likely costs of the service calculated from our standard hourly rate, just as you would receive from a lawyer or solicitor.

Because we bill in 15 minute time periods this service can be remarkably cost effective. Furthermore, if we receive any commission payment in the course of helping you, this commission is remitted to you after the deduction of our fees. In some cases this service can net you a profit! For an explanation of the different ways of charging go to our Consumers Guide page.

For clients who are seeking a € 50 000 plus mortgage click here to go to our French Mortgage Services page unless you are sure you want to go direct.

How to Proceed
Simply complete the Enquiry Form and we will contact you to discuss your needs.

Background Information
Because the French mortgage process is so different from the British process, we suggest that you start by securing a mortgage quotation. This will reassure you that the mortgage you require is affordable.

Conventional Purchase, Buy-to-Let (Leaseback), Buying off Plan (VEFA)
Whether you are refining your property search or merely have a budget in mind, establishing an understanding with the lender now will strengthen your hand in the negotiation process and show the agent and vendor you are serious. When you are ready to sign a compromis de vente (preliminary sales agreement), you should already be in a position to specify the lender whom you have approached for your mortgage offer. 

Loan-to-value ratios (LTV)
Loan-to-value ratios are typically 70% or 80%, but can be as high as 85%, of the net purchase price of your French property. Indirect purchase costs (legal fees, mortgage registration, etc.) can total 8% or more of the purchase price: For non-residents these costs are not financed by the lender.

Mortgage Types
Most standard mortgage contracts are repayment mortgages, with a monthly payment of principal and interest. Interest-only options are limited, although certain banks are now developing partial interest-only products.

Borrowing Limits
Consumer protection law requires the banks to limit the level of your repayments (including existing debts) to approximately one-third of your gross income.

Life Assurance
Term life assurance cover is mandatory. Property insurance also needs to be arranged prior to completing the purchase.

Funds Release
The process of issuing the funds, once the loan is approved, can take time. It is advisable to allow up to 12 weeks to complete the process. We can help to move the process forward and ensure your application is not left in a backwater. 

Interest Rates
Lenders offer loans with variable, fixed or capped interest rates. The exact rate depends on the type and period of loan you choose and on the loan-to-value ratio. Because interest rates have been low recently compared to the UK, many of our clients have chosen variable-rate mortgages with an option to switch to a fixed-rate loan later, if interest rates change.

Statutory Warning
Your home is at risk if you do not keep up repayments on a mortgage or other loan secured upon it. The sterling equivalent of your liability under a foreign currency mortgage may be increased by exchange rate movements. A life insurance policy will be required for each mortgage. All mortgages are subject to status and are not available to those under age 18 years.

Whatever the mortgage question, the answer is BestFrenchMortgage