• Buying in: Bourg St Maurice
• Property price: €345,000
• Loan Amount: €310,845
• Mortgage Type: Repayment
• Mortgage Term: 25 years
• Interest Rate: 2.35%
• Loan-to-value: 90%

The background

Our client, a successful French expat living in London, was looking for a mortgage with the highest LTV possible and the longest term possible. The reason? He is planning to buy other properties in the future and did not want to affect his debt-to-income ratio too much (hence the longer than usual duration) and did not want to dip too much into his savings on the first property to keep his options open (hence the high LTV).

Our approach

Most lenders currently lend at 75% or 70% at the moment because of the COVID. However we managed to get one of the last high LTV deals on the non-resident market with a pinch of luck: the valuation came back slightly higher than the purchase price so the 85% applied on the valuation actually became 90% of the purchase price. By the way, no collateral was required with the bank which makes the deal even more impressive. 

Well done sir, you’ve got yourself ‘’le beurre et l’argent du beurre’’!