Basic Criteria for French Mortgages
Outline of main mortgage conditions
• Mortgage Type:
Euro mortgage – Interest and capital repayment.
• Maximum Loan Amount:
Up to 85%* of the net purchase price for loans of €75,000 or more and 80%* for lower amounts.
• Minimum Purchase Price:
€62,500 The property must be habitable. Some works may need to be financed by Mortgage City International depending on the results of the valuation.
• Minimum Loan Amount:
€50,000
• Valuation:
Arranged by the bank at no expense to the borrower.
• Term:
Between 7 and 25 years.
• Payment Method:
Monthly direct debit from a bank account in France. Preferential conditions available for transfer of funds from the UK to France (service subject to conditions).
• Life Assurance:
Life assurance is mandatory.
Arrangements may be made through the bank or any other provider.
• Security:
First legal charge on the French property.
• Purpose of Loan:
Residential property purchase (main residence, second home, property to be let). Construction of a new property, re-mortgage, and home improvement loan.
• Lending area:
Mainland France.
• Arrangement Fee:
1% of the loan amount (minimum €700, maximum €1,500).
New Mortgages
If you have just started looking in France or have already fallen in love with your dream house, contact us for help with you new mortgage needs.
• We can help you by refinancing your existing property in the UK or find a suitable
product for you in France.
• Hundreds for different products to choose from to suit your needs.
• Interest Only mortgage rates starting from 4.85%
• Repayment mortgage rates starting from 4.65%
• A minimum loan amount of € 50,000
• Maximum term of 25 years
• Maximum loan to value 85%
Re-mortgages and Equity Release Mortgages
If you are looking to refinance your current mortgage or release what funds you have in your current property we have just what your looking for.
• Repayment or Interest Only mortgage rates starting from 5.35%.
• A minimum loan amount of € 75,000 (for re-mortgages)
• A minimum loan amount of € 50,000 (for equity release)
• Maximum term of 25 years
• No early redemption fee after 5 years (re-mortgage only)
New Builds and Renovations.
If you are currently looking to build a new house or renovate and old house in France then you may benefit from being able to defer your capital or interest payments for up to three years whilst your project is in progress. This gives you:-
• The flexibility to choose the best payment option for your needs
• A minimum loan amount of €75,000
• Term of 7 to 25 years (including the deferred payment period)
• Maximum loan to value of 85% of the property
Leaseback Mortgages
If you are investing in France but are only intending you visit you property for a few weeks of the year, then this is a great solution:-
• Possibility of deferring your capital and interest payments for up to 2 years if
building works are needed.
• A minimum loan amount of € 50,000
• Term of 7 to 25 years
• Maximum loan to value of 80% of the total price (including acquisition price
+ TVA + furniture + legal fees)
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