Latest transaction: €1.2M mortgage for a property in Grasse

Posted on 10 Mar 2021 in Transactions
Latest transaction: €1.2M mortgage for a property in Grasse
  • Buying in: Grasse
  • Property price: €1,700,000
  • Loan amount: €1,200,000
  • Mortgage type: amortising
  • Mortgage term: 20
  • Interest rate: 1.5%
  • Loan-to-value: 71%

The Background

Our client is a young yet successful investment fund manager / company owner. He was interested in getting the lowest rate possible to finance his property in Grasse, on the French Riviera.

Our Approach

As the deposit was not an issue, we discarded our lending partner offering 80%+ LTV because the rates are a bit higher. We instead focused on getting the best fixed rate available on the longest duration possible. Thanks to our contacts on the French Riviera, we managed to negotiate a rate fixed for 20 years at 1.50%! The total LTV of 70% is not too bad either, so the client didn’t have to compromise the LTV for the rate too much. We also used an insurance broker we work with very often to secure a mortgage cover with an averaged annual premium of 0.1%! 

A 1.2M€ repayment loan with a rate of 1.6% including insurance, 70% LTV without any Assets Under Management required? I say ‘’Mission Accomplished!’’. It took 57 days to get the mortgage offer which is quite fast as well.

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