Rent­ing a French prop­erty be­fore buy­ing it

French Property News - - Q&A -

Iwas con­sid­er­ing ask­ing the ven­dor if they would con­sider al­low­ing me to rent the prop­erty with a view to buy­ing once I’m es­tab­lished in France. Is this some­thing that can be done in France? I ask as I have also been told that once I am a French res­i­dent, pay­ing into the sys­tem, I will be en­ti­tled to a 100% mort­gage. Karen Davis

Fiona Watts, Man­ag­ing Di­rec­tor of In­ter­na­tional Pri­vate Fi­nance (in­ter­na­tion­al­pri­vate­fi­nance.com) replies: Yes this is pos­si­ble, sub­ject to the ven­dor agree­ing to it. This is be­com­ing in­creas­ingly com­mon with buy­ers want­ing to ‘live in’ the prop­erty be­fore they buy it; and is a great way to get to know the lo­cal area, noisy neigh­bours etc!

Once you are a res­i­dent of France, you will be able to ac­cess more prefer­able rates and a higher loan to value.

A 100% mort­gage is still pos­si­ble but the banks will have very strin­gent fi­nan­cial cri­te­ria that you will have to meet and they will ex­am­ine your pro­fes­sional sit­u­a­tion as well as the lo­ca­tion and con­di­tion of the prop­erty you wish to buy in great de­tail. Re­mem­ber they re­serve their best rates for those that can put in at least 20% eq­uity.

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