What is new with the French mortgage market in La Rentree 2023? Well, let’s find out the good, the bad and the ugly.

The French tax office requires a new reporting request called “déclaration d’occupation”, “declaration of usage”

A bit of sunshine on the French mortgage market coming your way! One of our main lenders is coming back after a hiatus to finance existing and off-plan properties all over the country.

Following the recent difficulties for the banks to be profitable (40% of the mortgage applications were / are being turned down), the Banque de France has decided to review its system.

France has not escaped the rise of rates over the last few months. Yet these increases have not been to the level seen in countries like the UK.

In France, as the rates were extremely low to begin with, the recent rise puts them back in the realm of normality, which you can see here.

As you can see, rates have been extremely low (under 2,5%) in France for around half a decade. During this period we’ve seen a gradual constriction of the market, with fewer mortgage products on the market and even fewer banks offering non-resident mortgages at all.

Yet with such low rates, is anyone really surprised the market has ended here? As much as many consumers are programmed to loathe banking institutions (unless it favours or benefits them), if there is such little money in a market, is it a surprise that the products within that market have dwindled?

An increase of the ‘’taux d’usure’’ may increase your chances of being financed!