1. Get pre-approved to borrow in France

French banks have a very different approach to underwriting compared to other countries therefore it is necessary to understand your complete financial situation to give you an accurate analysis and know which banks to quote. Based on the property you have chosen and your personal financial situation, our French mortgage brokers will help you choose among all the options to find the most advantageous product for you. 

2. Send your French mortgage application file

Your dedicated mortgage broker will send you a list of documents needed to apply for your French mortgage. Be sure to only send copies by scan or fax. Original documents are not required. You will also need to complete a medical questionnaire to apply for the required life insurance for the mortgage. For mortgages over 230,000 euros, you may need to complete a medical interview with a doctor, blood test and in some cases an electro-cardiogram to get life insurance. This is easily accomplished in France as there are special medical centres that offer one stop shop appointments especially for this purpose at no charge to you. It is also possible to complete the tests in your home country.

3. Open a French bank account

You are required to have a French bank account from which the lender can automatically debit your mortgage payments. If you do not already have one, your French mortgage broker will help you set one up. Normally this can be done from abroad without meeting the French bank in person. In most cases, you will be asked to provide certified copies of your ID and an original home utility bill to justify your primary residence.

4. Accept your French mortgage and life insurance offer

France Home Finance will be in close contact with the mortgage banks to ensure you receive the best possible terms and conditions. Once the bank has studied your file and is ready to tender your offer, the mortgage offer is sent to you and to your notaire. Consumer protection law states that you must wait a minimum of 11 days before accepting the proposed mortgage. French mortgage offers are usually valid for 30 days after reception. Once you have accepted the mortgage, you typically have 4 months to complete the sale. In most cases, the French life insurance is sent with the mortgage offer and also needs to be signed and returned.

5. Obtain French property insurance

When purchasing existing French property, you must insure your home against damage and loss with an effective date before or on the day of the signature of the act of sale or the French notaire can refuse to complete the transaction. When purchasing a French leaseback, property insurance is usually taken care of by the management company however carefully check your contract to be sure.

6. Complete the act of sale

You can either travel to France to complete the act of sale in your French notaire's office or you can sign a power of attorney to allow your French notaire to sign for you. In either case, your notaire will send a financial breakdown to you in advance detailing the property price, your reservation deposit paid, the mortgage amount, your down payment and a breakdown of the legal fees. You are required to send the balance of funds due to your notaire by wire transfer before the signing can take place. The French notaire will call for the remaining balance due directly from your French mortgage bank and will then be ready to complete the transaction.