Fast French mortgage for US national

THE SCENARIO

I was recently able to assist a client arrange a French mortgage for a stunning chalet in Courchevel, with a purchase price of €5million.

My client was a dual French and US national, who has worked extensively across the energy sector and is now working as a contractor. Many of our clients are introduced to Enness International through word of mouth; in this instance, an existing client personally referred this case to us.

This case had already progressed to an advanced stage with an alternative lender, but unfortunately my client felt he had not received an appropriate level of service. My client expressed there had been a lack of communication and a non-schematic approach. Errors had been made when processing paperwork, which was far from reassuring.

Finally, my client’s nationality was raised as an issue late in the application process, when this should have been flagged immediately. Arranging loans for US citizens can be challenging, considering the power and reach of the Inland Revenue Service (IRS).

Having invested time in this process, my client was now under pressure as his completion date was fast approaching and it was looking unlikely he would be able to secure the finance in time.

OUR SOLUTION

Fortunately, we have a well-nurtured relationship with a lender I felt would be ideal for this case. This lender is consistently reliably, organised and responsive, providing the levels of service expected by high net worth clients. Their systematic approach is unusual amongst European lenders, who often have a ‘Mediterranean’ mindset.

Speed of completion was the absolute priority for my client. He was keen on securing a sub 2% rate, and was hoping to fix the rate for the long term. I was able to negotiate a rate of 1.98% fixed for seven years, something which is unavailable throughout the rest of the European lender market.

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