Buy Your Dream Property in France With a French Mortgage
*PLAN AHEAD when it comes to financing your French property purchase
If you need to raise finance for the purchase of a French property then it is wise to sort this out before you start to view properties. Without knowing how much you can borrow for your house purchase it is really impossible to start looking at property in any kind of focussed way. Knowing your budget and knowing that you have an ‘offer in principle’ from a lender is reassuring as you start your search for the French house to suit your needs.
Where and how to get a mortgage?
If you are planning to buy a property in France in the near future it really is important to sort out your finances urgently. Most people need to borrow money in some way or another, to finance their purchase but many people automatically think in terms of raising a mortgage on their U.K. property. This may not be the most sensible way to finance your purchase as it puts your home at risk should anything happen that means you cannot make the repayments
The alternative possibility, is to raise a French mortgage on your French property. At Healey Fox we work closely with BNP who have a dedicated section of their bank for non-French buyers of property in France. All the staff speak English and will help you through the whole application process. They will discuss the various mortgage products they offer leaving you to decide which suits you best. You will then need to complete the application forms and submit a full set of supporting documents to request a full financial ‘agreement in principle
Why get organised so soon?
It’s important to recognise the advantages of the agreement in principle. From an agent’s point of view it shows that you are a serious buyer. Sometimes this can result in the Agent showing you a house that is really special but which they know will sell quickly. Seeing that you are in a position to buy makes you a very serious buyer and one who the agent will judge to be worth showing a fast selling house to.
Similarly the vendor will see you as a buyer who is in a position to proceed to a quick and smooth sale of their property. The fact that you possess an agreement in principle sends a very clear message that you are a serious buyer. This can add considerably to your negotiating power when it comes to agreeing the purchase price.
Finally, getting an ‘offer in principle’ puts your mind at rest when you find that special house that you want to call your home in France. You can head out to France and enjoy viewing properties without worrying if you can afford what you see. Get organised now and head out to France with a clear idea of your budget and knowing that you have the ‘offer in principle’ that will allow you to say “ yes….I will buy the house”.
For more information please contact us on +44 (0)1306 775 008, or you can request a quote here:
from the Healey Fox team