Normandy Home and Income For Private Sale
 

A light and spacious 5 bedroom, 3 bathroom modern Normandy property set back from the road in an acre of mature private garden.

Fabulous location, south-west aspect in a quiet village setting with easy access to local shops. Well placed for UK transport links (ferry ports, airports, motorway network and Channel Tunnel) making the property easily reached all year. There's even space for a helipad.

The house has all modern amenities including double glazing throughout and would make an ideal family home, holiday home or investment for a couple wishing to run a B&B. 

20 minutes from the regional capital, Caen, with its wide variety of employment opportunities and 30 minutes from the busy international tourist centres of Deauville and Honfleur.

Well presented and ready to move into with no renovation required, this property has been pre-approved for a mortgage at low Euro rates (subject to status). Latest Rates

  
 

Need a Mortgage?

Well, we're not mortgage brokers but one of our consultancy's clients is an online French mortgage broker and we have checked out the mortgage options for you. The information below is only a guideline but if you would like our client to provide you with a personal mortgage quotation just ask us and we will get them to contact you.

Best French Mortgage

The Mortgage Terms Available

In France you have a choice between a fixed rate and a variable rate mortgage. The mortgage term is normally 25 years or less but can be until the youngest borrower reaches 70.

Presently (September 2007) mortgage rates are around 4.50% (variable) to 4.80% (fixed) which seems to us to be extremely good value.

How Much Can You Borrow

In France mortgage lending is a little more controlled than in some other countries and the idea of "long term affordability" is very important to French lenders. Broadly the options are:

  1. If you are non-resident in France and buying a second home you will be able to borrow up to 80% of the property price subject to the upper limit that your total annual structured debt repayments (including the prospective mortgage repayments) are no more than 33% of your annual income.
  2. If you are resident in France and buying a main home you will be able to borrow up to 100% of the property price plus notaires fees subject to the upper limit that your total annual structured debt repayments (including the prospective mortgage repayments) are no more than 33% of your annual income.

In both cases please remember that you will not be allowed to include any future income you expect to earn from the property (such as B&B income) in the income calculation to support your mortgage application.

Help in Structuring Your Mortgage Application

As always in France, going about things in the French way brings enormous benefits and can save a great deal of time. If you don't think you can easily meet the above criteria don't give up, just contact us. We will try to help you present your case in the right French way so that the seemingly impossible may only takes a few minutes!