Buying your home in France might mean taking up a euro mortgage if you do not have the savings to finance your dream. If you do require a loan, you should start early so you know you have the finance and can plan with confidence your expenses whether that is for the kind of property you can afford or other related costs. Starting early, means you can research and find a mortgage with a more favourable borrowing rate, rather than planning it late and compromising with something less ideal. Especially, when it comes to purchasing a property abroad, having your finances in place means that you will be a more appealing candidate to those searching to sell their house rather than if you were still looking for a mortgage.


Buying in France is considered a good investment due to the country’s healthy economy. If you are borrowing from a French institution, bear in mind that you will be allowed to borrow one-third of your total gross monthly income. If you do not have a stable monthly income, it will be very difficult to secure a loan, as salaried employees and especially those working for the same employer the last three years are preferred.

For a French mortgage, you can get variable or fixed rates from 1.50%-2.50% and deposit 15% to 25% of the property’s purchase price. The maximum for a repayment loan is 85% with 25 years maximum term, or 75% maximum for an interest-only mortgage and 15 years maximum term. Interest only requires the client to have a lot of assets and is more difficult to obtain. The minimum for a loan is usually around €150,000.

Fixed- or variable-rate?

While a fixed-rate mortgage might offer the security of standard and consistent payments, it is usually more expensive than a variable one whose rate fluctuates depending on the movement of interest rates. This means it can be to your benefit or go against you, making for example a monthly payment of €400 increase to as high as €600, even though this is rarer. In France, most mortgages are fixed-rate ones.

Life Insurance

Apart from getting a building insurance, which your bank might also arrange, you will also need life insurance, again also a product that can be offered by your bank. This depends of course on the lender and the value of the mortgage. Life insurance will guarantee that you can repay the loan and in some cases you might be asked to provide further documents such as a general medical examination certificate or blood analyses. If you are travelling regularly, your bank might also request to sign a document where you explain where you have travelled the last 24 months, or where you will be travelling the following 24 months, so they know your life is not threatened.

While you have the option to borrow from a UK-based bank, this won’t be easy and going to a French bank is the usual option with different banks having their own criteria.

Getting in touch with a French lender that specialises in offering mortgages to British expats might save you a lot of time and aggravation, as they will tell you exactly the requirements and help you get the best possible deal.

Use a currency specialist

Similarly, getting in touch with a specialist currency broker will also save you lots of money in the long term. Transferring sterling to euro can cost you bank fees, whereas a currency transfer specialist such as UPFX will do so without extra costs while offering you competitive exchange rates.

If you are a British buyer, and want to save money while buying your dream home in  France, now is the time to get in touch with your currency broker. A currency specialist such as Universal Partners FX can help you navigate the current market while taking into consideration your specific needs, goals and your budget.