Guides
Five tips for purchasing French property
Written By:
Clare Nessling
Posted:
Updated:
20/01/2017
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