how much down when buying?

[Al]

Moving to region 40 in march and havehouse rented . Just wondering if buying what % of property u can mortgage?

[Eslier]

The following is quoted from the Credit Agricole Britline website:

A BRIEF OUTLINE OF MORTGAGE A LA FRANCAISE

Purpose and amount of the loan Purchase, renovation, construction, leaseback (80% of HT), equity release (for a purchase made in the last six months)

A maximum of 80% of the investment cost in Euros (excluding Notaire’s fees).

Currency Euros.

Interest rates A choice of a fixed rate or a variable rate.

Term Maximum term 25 years. Minimum term 2 years. Loans must be repaid by the borrower’s 70th birthday.

Conditions Borrowers are required to take out :

·  Loan repayment insurance through the bank, providing life cover.

·  Buildings insurance. Proof will be required that the building is fully insured. This can also be done through the bank.

Income criteria Your total monthy loan, credit commitments (including the new loan) and any rent should not exceed 1/3 of your net

monthly income.

Type of mortgage A capital and interest straight repayment mortgage secured on the French property.

Mortgage procedure The procedure takes approximately 6 to 8 weeks until the funds are released.

Arrangement fee A fee of 1% is charged; this amount is payable from your Britline current account on release of the loan funds.

Repayments Monthly repayments are debited automatically from your Britline account. Early capital repayments can be made, but this will incur a penalty of 3% on fixed rate loans. Variable rate mortgages offer an annual early repayment option without penalty at a set date fixed by the bank.

Please note :

·  Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.

·  The Sterling (or other currency outside the Eurozone) equivalent of your liability under a foreign currency mortgage may be increased by exchange rate

Source:   http://www.britline.com/g1/pdf/mortgage_application_form.pdf

[Nick Trollope]

100% mortgages (excluding fees) are available. I've had (got!!) 2. The 10% "deposit" will cover most of the fees.

[Will]

But in general you need a comparatively high income in France to borrow higher percentages.