| How much can I borrow?
This can be found using our affordability calculator. This gives an estimate of the amount of money a French bank is willing to lend. Most banks will lend 80% of the price, with some lending 100% and the purchase costs.
Currently, all mortgages are status mortgages, meaning that the banks will look at your income and outgoings. Banks will allow you to spend up to a third of your gross monthly income, less any existing monthly repayments on loans. They will also take a proportion of existing and future rental into consideration.
Click here to know how much you can afford.
What are current French rates?
The rates are generally 1%-2% lower than UK interest rates. The Euro Interbank Offered Rate (EURIBOR) is used as the base rate and generally there will be a margin of 0.5%-2% above this.
Please see below for a snapshot of current rates.
What is the mortgage application process?
The process to receive an offer can take anywhere from a few days to two or three months depending on how fast we work together.
Once you have decided on your French mortgage, you will need to send us the required supporting documentation. Once the bank has a complete file, they will send a final simulation before sending the file to their lending committee for approval to send the loan offer. Once you receive the offer, you must wait a minimum of 10 days before sending it back as a cooling-off period. The offer is valid for one month until accepted. After you have accepted the offer, it is valid for up to eight months depending on the bank.
What is the Euribor?
The Euro bank inter offered rate is the rate at which French banks and institutions lend money to each other. This is usually the base rate at the time plus a margin: for one month (+ 0.1), three months (+ 0.2), six months (+ 0.3) and 12 months (+ 0.4).
Most French banks with a variable rate base their rate on the Euribor 3 month plus their margin.
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