borrowing money in france

[maxsan]

Can anyone tell me if they have borrowed money in France, apart from a mortgage, and what the criteria were. Did you have to be working? a house owner? I know about the amount of your income that you can borrow but wondered, if I wished to take out a home improvement loan whether or not that was possible. 

[Agenais]

Did apply for a loan which was granted then we declined in the end, not for any bad reason, just decided against it.  Income was indeed taken into account, also a health questionaire.  Generally banks and loan companies in France seem less keen to loan money, unlike the UK where folks obtain loans hand over fist and have no way of paying it back, which is a good thing.  Working or retired, didn't seem to matter, as long as there was sufficient income each month.

Most banks offer loans for home improvements or large purchases, worth talking to them, never enquired,  but they may offer secured loans with the house taken as capital as in the UK, or you can go to an independent loan company.  Have linked a couple to have a nosey at.

http://www.sofinco.fr/

http://www.cetelem.fr/index.php?apporteur=P1004453635

 

[Jc]

Most loans in France are made against earnings rather than property.

[maxsan]

Thank you both for your excellent and concise answers. That was exactly what I was looking for. The rule that earnings are the main thing tells what I can do.

 

[mascamps.com]

I did get one very small loan last year and was very surprised that they do absolutely no checking of the information that you give them. We genuinely didn't know how much our income would be over the course of the year and basically just made up a number.

No documentation was asked for in our case but I gather that they normally ask for your last tax statement.

The over-riding limit is that all your loan payments added together can't total more than 30% of your total income.

 

Arnold