What’s the Difference between a French and UK Mortgage ?
The types of mortgages available from French lenders are very close to those offered in the UK, with both offering fixed and variable interest rates. The interest rate payable is normally decided by how much you need to borrow compared to the value of the property you are buying. Interest rates are set by the lenders, which are in turn influenced by either Euribor for French lenders or the Bank of England base rate for UK lenders. But normally in France you will find that access to more competitive mortgage deals will be helped by a larger deposit.
TSG Insurance Services S.A.R.L.
Siège Social: 34 Bd des Italiens, 75009 Paris
« Société de Courtage d'assurances » R.C.S. Paris B 447 609 108 (2003B04384)
Numéro d'immatriculation 07 025 332 - www.orias.fr
As with the UK, the property is used as security for releasing funds, and lenders have set criteria regarding eligibility requirements for obtaining a mortgage. Generally you will also find with French mortgages, variable rate loans tend to have no early redemption penalties, whilst fixed rate loans tend to charge an early redemption penalty.
Each individual case is different and you are strongly advised to seek the help of a specialist in this field. At Spectrum IFA Group, our advisors are trained in this area and will be able to provide you with free, impartial advice, relevant to your particular case. Financial Expat is registered and licensed in France under the European wide “umbrella group” of TSG insurance Services (The Spectrum IFA Group).TSG Insurance Services S.A.R.L.
Siège Social: 34 Bd des Italiens, 75009 Paris
« Société de Courtage d'assurances » R.C.S. Paris B 447 609 108 (2003B04384)
Numéro d'immatriculation 07 025 332 - www.orias.fr
