All types of building projects can be catered for the overseas client.

Own an existing property and would like to improve it via some renovation works – no problem.

Looking to buy a new apartment ‘off-plan’ that has not yet been built – no problem.

Purchased a piece of land and want to build your dream home on it – no problem.

Even though a lot of “building related paperwork” will need to be submitted to the bank, ICE Finance can guide you through the process.

Attractive mortgage products are available, with deferred mortgage payments of up to 24 months whilst the build is taking place.

Note that any individual/company undertaking the building works MUST be registered in France.

You will need to submit building work quotes with the mortgage application.

Bank will either pay the final invoice directly or reimburse the client is already settled.

Construction / Home Improvement mortgages in France are now available for up to 75% of the future final market value of the property.

French mortgage interest rates are generally 1-3% below the UK/USA equivalent, so it may be cheaper to borrow the money in France.

Also, it is generally accepted that it is safer to have your exchange rate risk based on the monthly mortgage payment of the value of the entire property.

For example, it would be better to pay 20% more for your mortgage payment on a monthly basis, than being forced to sell through a change in circumstances and finding the value of your property is 20% less than the mortgage used to buy it.

In addition, if applicable to your circumstances, if you receive rental income in Euros it makes sense to have a loan that is also paid in Euros which also lessens exchange rate risk.

By taking on a Build-type project mortgage in France, you will have to pay mortgage registration taxes which vary depending on the loan amount and what the mortgage monies are used for (e.g part funding for purchase of existing land + part funding for construction of new house).

A French Notaire may charge up to 4% for the mortgage to be registered as a legal charge, known as a ‘PPD’ / ‘Hypothèque’.

French banks will charge up to 1.5% as a fee to set up the loan, though generally the amount will be lower if you apply directly via ICE Fiance.

ICE Finance charges a fee as specialists which will be payable on acceptance of your mortgage offer. Enquire within.

The first step is to speak with a professional French mortgage broker like ICE Finance who will ask a few important questions to establish your eligibility with a number of different banks.

Initially we will want to understand your existing debt to income ratio. This is calculated by dividing your outgoings for debt payments by your gross income and should not exceed 33%.

Request a pre-approval decision now and let us work out how much you could borrow.

French mortgage products for second/holiday homes are designed to maximise security for both the borrower and the bank.

Therefore the majority of loans in the French mortgage market will be on a long term fixed rate or a capped variable rate.

Consult our dedicated webpage on the different types of mortgage products available here in France.

Click here to view the latest interest rates available for overseas clients, be the mortgage in Euros, Swiss Francs or US Dollars.

Following the changes in the mortgage application process of certain EU countries, obtaining a mortgage in France is no longer harder to do than in neighbouring countries such as the UK.

Of course, the French are still very protective over the financial markets, including those relating to French second home mortgages products but in many ways this is why it is possible to source such favourable rates over such long periods.

This security means however that non-status lending and self-certification mortgages are not available.

Each of the French banks has a slightly different underwriting criteria and so requires a slightly different set of supporting documents.

Some banks may also require documents to be certified by a finance or legal professional – we will advise accordingly based upon your own personal circumstances and French property project.