BNP Paribas is offering a range of fixed and capped mortgages to enable British and international buyers to purchase properties across France.
The lender provides mortgages up to 85% loan-to-value when they are taken on capital repayment or 75% on interest-only. The minimum loan size is 100,000 euros for capital repayment or 200,000 euros on interest-only. The mortgage term can run from seven to 25 years and up to the age of 80.
Mortgages start from 2.05% for capped rates linked to EURIBOR which is currently -0.31% and ten-year fixes are not much more expensive. They have a 1% administration fee which has a minimum of 700 euros and a maximum of 1,500 euros. This includes the valuation fee and is not payable if the mortgage is declined.
The lender assesses mortgage affordability by adding up the clients existing mortgages and loans, and dividing the monthly gross income. The total should not exceed 45%. To qualify clients will need to pay tax in a European country, or Australia, Canada, South Africa or New Zealand.
Aaron Strutt, product director at Trinity Financial, says: “BNP will lend on properties across France including the fantastic houses in Nice or apartments in Paris. The bank provides buy-to-let, holiday homes and remortgages to secure better rates. It can provide funds to complete a renovation and also offers interest-only.
“BNP is one of the few lenders in France where they do not need to have life insurance and it can lend the funds to cover the stamp duty, estate agent and notary fees which can be around 8% of the purchase price. The lender sends mortgage offers by recorded delivered using DHL.”
The bank also provides leaseback mortgages which are unique investment schemes in France enabling buyers to purchase new build properties which are typically let the property for nine years.
BNP is one of the few lenders in France where they do not need to have life insurance and it can lend the funds to cover the stamp duty, estate agent and notary fees which can be around 8% of the purchase price. The lender sends mortgage offers by recorded delivered using DHL.
Call Trinity Financial on 020 7016 0790 to secure a mortgage to buy in France or remortgage