• Buying in: Les 2 Alpes
• Property price: €970,000
• Loan Amount: €820,000
• Mortgage Type: Amortising
• Mortgage Term: 20
• Interest Rate: 2.25%
• Loan-to-value: 85%

The background

From the first call, the client made it clear that he was very sensitive to getting the highest LTV as all his savings were not available at the moment (mainly pension funds). The client was purchasing through a French company as well, the SARL de Famille.  

Our approach

One of our main lenders offer up to 85% without collateral (assets under management) which means that the deposit is only 15% (plus fees involved in the purchase). While we can get you rates in the Alps as low as 1.50%, it generally means that the LTV is around 70%. In this case, as the LTV was 85%, we had to settle with a rate of 2.25% fixed over 20 years. It is still amazing as you never will have to refinance (unless you get a much cheaper rate) Also, while the other banks would require a life insurance (mortgage cover), this bank makes it optional so if you already have a policy in the UK, you can get save some euros here. It is however important to be insured one way or another (in France or somewhere else). 

The client was very organised, the bank was, as usual, on top of its game so from the moment we sent the complete application to the bank to the day we got the mortgage offer printed, it took only 25 days!