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Languedoc Property:  Buying Property in the Languedoc: Mortgages

You can obtain a mortgage loan in France, much as you would in most countries, though of course the bureaucracy is marginally worse, the personal questions marginally more impertinent, the financial institutions marginally more incompetent, and you will pay an extra tax on your loan registration.

The considerations are much the same as well: term of loan, fixed or variable rate, early redemption fees, and so on.

Many UK banks and building societies have set up branches in France, and many people find them easier to deal with.

An alternative is to secure your loan on property outside France. If your property in the UK for example is valuable enough, you can mortgage or re-mortgage it. This effectively makes you a cash buyer in France, which can be useful (eg for auctions).

Another consideration is what currency to denote your loan in. With fluctuating exchange rates, this can be an important consideration. Depending on your temperament, you may chose to speculate, or to play safe - by ensuring that your projected income and expenditure are both in the same currency, whatever that is.

 

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