THE KNOWLEDGE
The long-stay visitor visa is
the fi rst step to retiring in France
FRENCH MORTGAGES W
e want to buy a second home in the southwest of France and
will probably fund it using a mortage. Can British buyers still get a French mortage, and if so, are there any restrictions? How are interest rates faring? What would we need to provide, and what fees would be payable? Are there any advantages to using a mortgage over cash? Anything else we should know in advance?
JEEVANTHY NIVERT of Societe2Courtage (
societe2courtage.com): Foreign buyers can access French mortgages, but the approval process may vary depending on residency and income source. French banks often require a down payment and/or counterparts to fi nance for non-residents. This option is generally cheaper than equity release back home. There are no restrictions
and your all-important social security number. Towards the end of your fi rst
year in France, you will need to renew your visa, but you don’t need to return to the UK to do that, new residents are required to renew their visa with their local prefecture in France.
Fear not, we off er welcome
packages to new arrivals, and are your one-stop admin assistance shop for everything you’ll need, from the initial visa application to all the necessary paperwork required to transition well to your new life in France.
on non-EU buyers purchasing a property in France. However, the fi nancing options might diff er slightly, with more stringent requirements from the banks. For foreign buyers, the LTV
(loan to value) ratio typically ranges from 70% to 85%, depending on the lender and the buyer’s profi le. This means you’ll need to provide a down payment of 15-30%. On some cases, foreign buyers can avail 100% LTV. Interest rates in France
for the successful execution of your project. They understand the intricacies of French building regulations, zoning laws and safety codes, and they will navigate these complex areas of the French administration on your behalf. Your French architect will be familiar with the specific requirements and planning permissions needed, making it easier for your project to comply with legal standards from the start. Finally, architects oversee the
coordination with contractors, engineers, suppliers and other professionals to ensure that the
project runs smoothly. Their project management skills allow the project to stay on schedule and within budget. They handle unexpected issues that may arise, thus avoiding stress and disruptions. Although using an architect
might initially seem like an added expense, their input can actually save you money in the long run. Hiring an architect is an investment in the quality, efficiency, and sustainability of your project, ensuring a result that meets your goals and reflects your lifestyle while offering a more relaxed experience.
are generally low compared to other EU countries. Fixed rates are popular, but variable rates are also available. The rate off ered depends on your fi nancial profi le and the lender. As of January 2025, the 20 years fi xed rate is 3-3.5% which is 1% lower than UK and nearly 2% lower than in the US. The main fees involved are
the bank (€1-2k), loan broker (1% loan amount) and mortgage registration (case to case).
Get in touch!
Ask your questions about French property or life in France... Email:
karen.tait@francemedia.com Alternatively, you can post your question on our Facebook page
FRENCH PROPERTY NEWS: March/April 2025 95
Jeevanthy Nivert Typically, the documents you
would need to supply include proof of identity, income statements, bank statements, tax returns, and details of other fi nancial obligations. Non- residents might also need to provide translated and certifi ed versions of these documents. French lenders will accept
foreign income to qualify for a French mortgage, but they might apply an exchange rate buff er. Proof of stable and suffi cient income is required. Note that France imposes
property taxes and potentially capital gains tax. Using a mortgage can be an eff ective way to nullify the wealth tax and minimise your rental income (if relevant). The notaire ensures the
legality of the transaction, secures the buyer’s and seller’s interests, and registers the mortgage with French authorities. Their involvement is mandatory and critical. Mortgage brokers act as
intermediaries, connecting buyers with trusted lenders, tax advisors and notaries. They also assist in negotiating the fi nancial terms (downpayment vs collateral vs counterparts) and ensuring smooth communication throughout the process.
© SHUTTERSTIOCK
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