Jmartin Posted July 17, 2004 Share Posted July 17, 2004 Hello,Wonder if anyone can help us find a mortgage provider? My husband and I plan to move to France in 12 months or so and will be looking for a mortgage, probably for a property in the region of 100,000 - 140,000. We need to know what options are available in terms of what percentage of the property price we will be able to borrow and how much we would be likely to need to budget for fees etc. At the moment our research indicates that we will need a lump sum of around 30% of the property price and we are keen to know whether there are other options which will require less capital - as if not we may need to scale our plans down!Many thanks,Jonine Link to comment Share on other sites More sharing options...
Rita Posted July 17, 2004 Share Posted July 17, 2004 Hi,We have been using a guy called David McDonald regarding mortgages he has been absolutely brilliant. He is based in France and his e-mail address is:[email protected]Just e-mail him and tell him Rita says Hi! By the way I have no affiliation with him other than he helped us with our Mortgage and I do not gain anything by recommending him, however I know what a mine field this can be.He got us a great rate of 2.75% and this is putting down 20% deposit. I know I recommended him to someone else a few weeks ago on this forum and they were really pleased with his service. He is currently on Holiday at the present but he is due back the middle of this next week.Hope he can help, Good Luck.Rita Link to comment Share on other sites More sharing options...
Richardbk Posted July 18, 2004 Share Posted July 18, 2004 LAST EDITED ON 18-Jul-04 AT 10:50 AM (BST)Note also that the limit set by all banks/lending companies in France is that your total credit payments (including mortgages) can not exceed 1/3 of your net income. I.e if you earn 6000 month net you can not have more that 2000 / month in credit payments. Some will even apply 30% in credit payments, rather than 33%.Also bear in mind that most mortgages have a default 3% penalty if you pay it off early -e.g with a lump sum when you move or sell up. This is not a problem if you stay with the same bank (I.e this would be waived), but if you sold up and say either didn't take up another loan and/or changed bank then this 3% penalty would apply. If possible you should try and negotiate this penalty clause out of the mortgage contract. regsRichard Link to comment Share on other sites More sharing options...
Shanks Posted July 29, 2004 Share Posted July 29, 2004 Hi you might want to try www.french-mortgage-advice.com they sorted our mortgage and were really first class and helpful. Link to comment Share on other sites More sharing options...
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