French Mortgages and the French Property Market

French Mortgages

France is in an increasingly popular destination for investors from the UK who are looking to purchase abroad. The country’s popularity is partly due to accessibility and partly to the comfort that British people feel with the French legal and financial structures.

Get a Free Quote Introduction to French Mortgages

France is in an increasingly popular destination for investors from the UK who are looking to purchase abroad. The country¡¦s popularity is partly due to accessibility and partly to the comfort that British people feel with the French legal and financial structures.

France has been a favourite investment location for many decades. This has led, in some people¡¦s opinions, to an over-saturated property market that no longer provides the high financial returns currently offered by some of the less developed regions of Eastern Europe, for example.

Although this is true to a certain extent, there are still pockets of France that remain underdeveloped. In fact, there are some excellent financial deals on offer from French developers and banks to make investment a very worthwhile prospect.

Advantages of the French Market
France is a well developed country with a very similar property investment system to the UK. For this reason, it is generally considered safe and easy to understand. The French market and property purchasing process is similar to the process that we are used to in the UK, with a few notable added protections for the buyer.

There are two inherent ¡¥cooling off¡¦ periods built into the mortgage process; this is mainly because banks in France are rather more cautious when it comes to estimating income and the size of repayments that can be reasonably made. As with the UK, any mortgage lender will also take into account other loans which you may have, as well as other regular outgoings.

Because of the strictness of the French market and the fact that land is registered, many English banks are prepared to offer mortgages on French properties. This gives the borrower a much wider range of providers to choose from and allows the borrower to stick with well known names if that gives greater security.

It is worth bearing in mind that the French purchasing process takes slightly longer than in the UK, primarily due to the cooling off periods which delay the movement of funds needed for completion.

Summary
Bullet Point The French property market is relatively mature, meaning that it is harder to find the windfall gains that can be obtained in some less developed countries;
Bullet Point despite this, France remains popular with UK investors as it is considered a secure and easily understood jurisdiction;
Bullet Point the mortgage market in France is particularly strict and this has encouraged many British banks to offer French mortgages, thus increasing the options for borrowers.

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