• Buying in: Les Gets
• Property price: €721,120
• Loan Amount: €515,000
• Mortgage Type: amortising 
• Mortgage Term: 20
• Interest Rate: 1.40% fixed
• Loan-to-value: 71%

The context

Our client is an Irish citizen living in the UK. He was looking to buy a new build property in Les Gets in the Alps. He wanted the lowest rate possible and FPF made its best to fulfil his will.

Our approach

This June, Covid-19 was striking the economy and our client found himself under the furlough scheme. We worked together to make his situation clear in the eyes of the lender, as changes in professional situations are sometimes seen as an alarm on the bank’s side. The application took longer than usual but we finally managed to sort this out and lock a fixed rate of 1.40% over 20 years that we had negotiated with the bank earlier this year, pre COVID-19. Our client was very happy with the result and was aware of the necessity in extending the application duration.

It shows that some French banks are still willing to work with non-residents. However, more than ever, applications have become more of a case by case situation.