How to seduce your French Banker
If you want to win the heart of your French banker and get the right financing for your French real estate purchase you will want to incorporate the following tips into your seduction:
One
Prepare for your application
Make sure you do not owe any money a minimum 3 months before you apply for a loan since your banker will verify your credit history.
Two
Prepare your deposit
You need to save a minimum of 10 to 15 percent of the amount that you will to borrow to demonstrate you ability to save. The more the better. Remember you need to budget not only for the down payment on the real estate, you also need to pay the notary fees.
Three
Choose well your bank
Some banks look for certain borrower profiles. For example, some lenders work more with foreign borrowers and some not at all. You may wish to choose a mortgage broker to assist you in finding the right bank.
Four
Remember Banks can be very regional
In France banks can have different interest rates depending on the area you are buying in so make sure you know where you are going to buy before you ask the bank for a simulation of your financial ability.
Five
Show your income is regular
In France having a long term employment contract (CDI) is ideal for lender security. If not, if you have consistent short term contracts that show a regular income over 3 years you can present this to your bank you may still have a chance to borrow.
Six
Remember Bankers like security in the relationship just like you
French banks are more likely to loan money to you when they feel their money is not at risk. So the more your deposit, the more your income and the more secure your job the better.
If you need to contact an English speaking French mortgage broker we can guide you to one today. Contact us here.
