Thousands of French property owner’s who were approved for a mortgage last year would NOT qualify for the same mortgage again this year according to this article in French in LeFigaro.
200 000 French property home owners of the 1 200 000 who obtained French property mortgages last year (that is not a small portion of the new French property owners) would not get the credit they got if they applied again this year and the reason why they would not qualify one year later is because their qualification was so tight last year that with the small increase in mortgage rates makes them not qualifed this year.
This is a big risk to take to purchase a property so close to one’s maximum power to purchase.
One of the recommendations in the article is to make sure that you have a larger down payment to reduce the amount of the mortgage you are using to buy your French property, a simple but effective way to protect yourself again rising interest rates.
In addition, buying a less expensive French property can also reduce the likelihood of you being financially stretched.
Remember, it is important to not spend too much on your French real estate purchase so that it does not become a stressful ownership experience.
Before you request the free ebook below read what people are saying about ESREA France – some examples:
Cynthia Sadler wrote ” I am so grateful to you for your help, and I have already spoken to friends who are planning to retire in France after their children graduate from college in 5 or 6 years, letting them know about the wonderful support that ESREA France will be able to provide when they start looking for a house to buy. You can be sure that I’ll be referring other friends who are thinking about relocation possibilities to you as I learn of that interest!I”
Tanya Coletz wrote “I can’t recommend David enough, such a refreshing experience after months of trying to find suitable professionals myself he managed to find English speaking, qualified and responsive recommendations immediately. He also responded to my emails on a French holiday and followed through on every promise at a very reasonable price. I’m very grateful for his help and highly recommend his professional service”
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