1. Purpose: Why are you buying? (main residence, secondary/holiday residence, investment/property to let)
2. Is it an old property or a new one?
3. What are your personal family circumstances? Will I be financing the property alonw (single), or as a married couple, or is the acquisition through a company
(“Société Civile Immobilière”)?
4. How many persons will be registered as living in the property with me (for tax
purposes see the French “Avis d’imposition" No.2)
5. How many persons do I support (financially) today?
6. What is my income (annual or monthly)?
7. Do I have other income (from capital/property, alimony ...)
8. What loans do I have currently and when are they due?
9. Do I have other debts or financial obligations (e.g. alimony)?
(Tip: Generally the instalments to repay your loan/mortgage should not exceed 33% of your available income)
10. What funds do I have available for a down payment?
(Tip: Consult your financial advisor or banker if you intend to buy a property and
nevertheless wish to preserve all or part of your savings or investments - it
will confirm your seriousness and savings acumen.
Who can help me “run through the numbers” of my property financing - how to choose?
The bank where you have your (current) account(s) should in principle
except in particular cases be able to
prepare a study of the financing and certain establishments even offer
“on-line” simulations. But, as indicated above, a serious borrower owes it to himself to compare several options, and
to negotiate when he can and get offers from several lenders.
He may choose to consult various credit providers or banks, or consult a
professional, a specialist in property-financing credit: a Mortgage Broker.
What are the principal advantages of using a Mortgage Broker?
- An enormous saving of time because - once the broker has all the details - it
he who will approach the different institutions that he believes best capable
of fulfilling the client’s particular financing requirements. It will be very
easy to compare the various available options with him.
- Quick action: Usually it is not necessary to wait a long time for a productive
appointment with a broker.
- The advice of an independent professional who is up to date regarding the
latest legislation and commercial policies of the various banks and lending organisations
and who will be able to highlight the advantages and drawbacks of the different
proposals they may submit.
choice of a competent professional.
If you are contemplating the purchase of a property proposed by the
Agence Genérale de Sablé, 19 & 21 Rue Carnot, 72300 Sablé-sur-Sarthe (Real
Estate Agents since 1926), we will naturally be able to advise you in your
approach to financing your acquisition.