How Will You Buy ?

It sounds simple enough, doesn't it ?

But, oh no it's not ...... Once money is put into property in France, it can be difficult, if not impossible, to get your hands on some of that capital ..... Think Very Carefully.

There are three possible answers.

1 If you are fortunate to have the cash available to purchase the property, that is by far the easiest way. But problems can arise later ......

2 If you are a home owner in a country other than France, it may be possible to re-mortgage your main home to raise the cash to buy your French dream home. Again not so difficult, except that you may be putting your main home at risk for the sake of your holiday home, and problems can arise later ......

3 The third solution is to apply for a mortgage with a French bank. Of the three options, this is probably the most daunting ......
Which French bank do you choose? Which bank provides the most suitable mortgage for your requirements? Which bank offers the lowest interest rates and charges? Which bank is the best for its standard or service and staff that speak and understand your language? Don't forget, we're dealing with French banks - you wouldn't expect a UK or American bank to speak French.

Buying a property in France with a mortgage from a French bank gives you more control of your future finances. Think before you buy for cash. Once you have completed on the purchase of your property, you may be closing the door to any future financial help.

Did you know that ......

Unlike many other countres, equity release on property in France was impossible until some 2 years ago, and there are still many banks choosing not to involve themselves with it. Those that will offer equity release have some very strict criteria and conditions. Many people find that they do not qualify for an equity release mortgage.

Income and age are the main problem areas, although self-employed people can find it difficult too, as can those who have bought through an SCI (a French company for buying property), and the list doesn't stop there.

It pays off to think carefully about how to buy ....