Expat Community > France

lostinspace
Joined 2001
Posts: 132

finding a mortgage

22 years ago

Hi everyone,

I just went through the process of finding a mortgage here in france and i thought i would share my experience.

I was refused by my bank (credit lyonnais) on the grounds that i haven't been with the bank long enough. I have a friend who just got a mortgage with them and he wasn't even a customer. They refused me even though I have over 25% for a down payment and my partner is french and we are both 'cadre'.

Other than being offended, this didn't affect me much since the interest rate was too high.

One thing to know when you choose a bank: you must have a normal account at the same bank from which you take a mortgage, and have your income directly deposited into that account. Also, it's worth choosing your bank wisely because when you open a PEL, after 3 years, the PEL helps you to get a good interest rate, but only at the bank in which you have opened the PEL. Actually, I don't know how helpful it is because if you end up choosing a different bank, you loose the benefit of having a PEL anyway.

so i almost signed with BNP for a rate of 4.95%, but we weren't happy with the assurance, so we went to an independent assurance office. We found out something: if you go to one of these without having signed a mortgage and you haven't been recommended to go there by a specific assurance company, then the independent assurer can help you find a better mortgage and assurance than you could on your own.

For us he was able to call BNP and immediately get a 4.70%. we also chose an assurance at 0.15% (well below the 0.40% that BNP offered).

So, to get the mortgage as an expat, I just had to provide a lot of papers:

last 3 pay stubs
last 3 months' bank statements
last 3 months' edf/gdf bills
an attestation from my company
the house papers (with specs on size)
passport with carte de sejour
my rent contract with proof of payment of rent

and that was it.

I hope this helps others of you trying to do the same thing.

GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

Living in France Guide

Guide to Living in France covering expat life, local culture, finding a home, diversity and more.

France Forum
Join our France forum to meet other expats and talk about living in France.

Contribute
Help other expats and newcomers by answering questions about the challenges and adventures of living in France.

Best Places to Live in France

If you're thinking about living in France, here are the 15 Best Places to Live in France in 2023.

Healthcare in France

Expats often ask if health insurance is free in France or if you need health insurance to go to France. Here is basic information about the French healthcare system.

Cost of Living in France

Expats offer insight into the cost of living in France.

Moving to France Guide

Expats all over the world dream of someday making France their next destination. As with other countries, there is a lot of planning involved, and a lot of decisions to be made.

Real Estate in France

Real estate listings in popular cities and towns in France.

Pros & Cons of Living in France

Take off your rose-colored glasses and learn what expats have to say about the biggest challenges and the greatest rewards of living in France.

Retiring in France

Advice for people retiring in France.

10 Tips for Living in France

If you've recently arrived in France, here are 10 tips for digital nomads living in France.

Additional Information:

Visit our France Index for a Full List

GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

GeoBlue

Top-quality coverage for people who live, work, study and travel internationally.
Get Quote

Contribute
Help others in France by answering questions about the challenges and adventures of living in France.

Login

Or, Send Login Link

Expat Community > France

finding a mortgage

Login