Holiday home in France for British clients

THE SCENARIO

When it comes to buying a holiday home in France, it can be difficult to know where to start with securing a mortgage and dealing with the technical side of the process—especially if you aren’t fluent in the language. Fortunately, our multi-lingual team is very happy to go above and beyond in assisting such clients, as we proved on a recent case.

My clients were looking to purchase a beautiful property in a desirable area of France, valued at €925,000. They had already spoken to a lender but unfortunately, the service they received was slow and inefficient—and as it turned out, the mortgage they were eventually offered was not a particularly attractive product at any rate.

My clients therefore found Enness International after researching mortgages in France online. We are very experienced in securing finance for global clients looking to finance a holiday home in France. I was happy to outline the options for these clients, highlighting that their profiles would make them desirable candidates for a private banking relationship, enabling them to access a far more favourable mortgage deal.

OUR SOLUTION

They had been offered 70% loan to value (LTV) at an average rate; I was able to secure terms for 100% LTV, with 30% placed as assets under management (AUM). My clients were savvy investors who felt this would be a preferable option, as this meant their investment would grow and generate a return. This was offered at a rate of 1.6% + EURIBOR, on an interest-only basis, over a 3-year term with an option to renew.

This is an excellent offering, but I was also able to add significant value to the transaction by acting as a conduit between my clients and the Notaire, who did not speak English. The Notaire is an essential point of contact during any property transaction in France, and the language barrier can be problematic for British clients buying in France. If this is a concern of yours, rest assured that we can liaise with contacts in the region on your behalf; during this case, I flew out to France to assist my clients in person.

Buying a holiday home in France can be a complicated process, but having the right team in place can make a significant difference. If you’re currently researching a transaction in the region, I would be delighted to talk you through your options at your convenience.

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