Mortgage Advice

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zazou
Posts: 3
Joined: Sun Jun 11, 2017 8:42 am
Location: Pays Bigouden

Mortgage Advice

Post by zazou »

Hello all, first post here! I've just had an offer accepted on a house in Brittany, and signed the compromis this week. Unfortunately, this week I also received an email from France Home Finance telling me my mortgage application was turned down because a) I have a student loan (11k so a pittance compared to more recent graduates, I know!) and b) because I work 4 days a week, which confused them. This is in spite of me asking for just half the price of the house as a mortgage and having decent savings.

Quite frustrating, so now I have to start the application process all over. I have a French passport and bank (LCL), so I will try them first, but I was wondering if you:

a) had any banks to recommend that would accept a mortgage of 75k or less

b) have found a good way of explaining the UK student loan system in France

Thanks for any help or advice!
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Moliere
Posts: 4753
Joined: Thu Mar 08, 2007 10:45 pm
Location: Magalas, Languedoc

Post by Moliere »

Welcome, Zazou. French mortgage rules are, as you are discovering, pretty restrictive. By all means try LCL, but otherwise, why not go to a broker, who could give you professional advice and moreover will be able to explain things on your behalf?

https://www.frenchentree.com/french-pro ... -property/

If you Google "French mortgage broker", you'll find lots of possibilities.

Bonne chance

Mols
Jumping is just dressage with speed-bumps.
zazou
Posts: 3
Joined: Sun Jun 11, 2017 8:42 am
Location: Pays Bigouden

Post by zazou »

Hi Mols, yes, I had used a broker initially (France Home Finance) but they abandoned me quite abruptly this week, so not a great experience there!

Thanks for the link, will take a look
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