Issue No. 25

Everything you need to know about
French Mortgages
An estimated 84,000 UK nationals moved
across the Channel in 2019 – a 10 year
high. Traditionally most home buyers were
retired or looking to purchase second
homes, but France is an increasingly
attractive option for young families and
people in their 40’s and 50’s.
Affordable property, beautiful countryside
and coastline, great food, wine and good
quality health and education systems are all
irresistible temptations for a new generation
of Britons seeking a new life in France.
French house prices are considerably
cheaper than the UK. Although official
figures suggest the property values are
rising gently, there are plenty of
competitively priced homes for sale,
particularly in rural locations and smaller
towns.
The French mortgage market and
eligibility for a loan
Buying a property with a mortgage is
increasingly popular, helped by continuing
low interest rates. Mortgages can also be
taken out to pay for renovations, new build
construction (including both the land and
building costs), equity release or to remortgage.
Though, if you are thinking of remortgaging,
be aware that in France there
may be high fees.
There are a number of differences between
French and UK mortgages. Below are a few
examples:
Interest rates: In France rates are set for a
maximum 25 year term. A fixed term of 5
years is more common in the UK.