• Buying in: Morzine
• Property price: €452,500
• Loan amount: €384,625
• Mortgage type: Repayment
• Mortgage term: 20 years
• Interest rate: 2.25% fixed
• Loan-to-value: 85%

The Background

Our client, a UK resident, was looking to purchase a property in the French Alps. He initially went through a first application with a local bank (through us) in order to achieve an excellent rate. Unfortunately, Brexit came into the equation and the lender stopped financing UK residents.

Our Approach

We had to seek another mortgage solution! Thanks to years of experience and close relationships with many mortgage lenders on the French market, we could find another bank for which Brexit was nothing but an administrative inconvenience…

We could find a new offer for the client. Yes, the rate was higher… but on the other hand we could reach the highest LTV for such a profile (85%) and in addition to this, contrary to the first solution, subscribing to a life-insurance was not mandatory (which means that the overall cost was not so different in terms of APRC). The client was already insured in the UK so he could use his existing policies. It is important to always be insured though, in France or elsewhere.

The client was very pleased and decided to go for this mortgage product! From the date we sent the application to the bank to the day the mortgage offer was printed, only 24 days had passed!