Five tips for purchasing French property
France remains the number one location for UK overseas buyers.
Follow the following tips from overseas mortgage specilaist Conti if you are thinking of buying property in France:
- Obtain an Approval in Principle This will confirm that you can obtain the necessary funds before signing any dotted line and prove to sellers that you’re a serious buyer.
- Consider exchange rate fluctuations We generally recommend that an overseas mortgage and the income used to service the mortgage repayments are in the same currency, thus avoiding exchange rate issues.
- Open a French bank account To receive your French mortgage, you’ll need to open a French bank account, from which your mortgage payments can be debited.
- Factor in additional costs Bear in mind that bills don’t end at the asking price. Lawyer’s fees, local and national taxes, insurance, and so on, can often add at least a further 10 per cent to the cost of your acquisition.
- Seek professional advice Take independent advice from an English-speaking lawyer who is not connected
Tagged: Top Tips
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