A French mortgage when you live abroad.

Contents

1. What French banks look at
2. The borrower's insurance
3. The loan offer and its 10-day reflection period
4. The timing
5. Simulate first
6. Frequently asked questions

Borrowing in France as a non-resident is possible, but the conditions are usually stricter than for a resident, and fewer banks take these files. A broker who knows non-resident lending often saves time.

What French banks look at

• Your income and its stability, often converted with a safety margin when it is in another currency.
• Your debts: French banks apply strict affordability rules, with repayments generally capped at about a third of income, insurance included.
• Your personal contribution: non-residents are usually asked for a larger deposit than residents.
• Your country of residence and the documents the bank can check.

The borrower's insurance

French banks usually require a borrower's insurance covering death and disability. You may choose an insurer other than the bank's, if the cover is equivalent. Depending on the amount and your age, a health questionnaire may be required.

The loan offer and its 10-day reflection period

Once the bank agrees, it sends you a formal loan offer. The law gives you ten days of reflection: you cannot accept it before the eleventh day after receiving it. Take this into account in your timetable.

The timing

Start before you find the property: a bank's agreement in principle makes your offer stronger. Once the compromis is signed with a mortgage condition, you usually have a few weeks to obtain the loan. If it is refused despite a genuine application, the condition protects your deposit.

Simulate first

To get an idea of the monthly payments, try my mortgage simulator (in French, the figures are easy to read). Then speak to a bank or a broker for your own situation. I work in English and French every day. I also speak Hindi, Urdu and Punjabi fluently, Persian (Farsi) very well, and good Greek and Arabic.

Frequently asked questions