Unless you are able to pay cash your chosen property, you will need to arrange finance. French bank partners will provide a mortgage to an expatriate providing regular income can be proven. French law imposes that the sum of all mortgage payments you are liable to worldwide must not exceed 30% of your total income. You have to have mortgage protection insurance to cover a large mortgage and also undergo a medical test, at the bank’s expense. Subject to status, you may borrow as much as 75% of the property purchase price.
The bank asks many documents ( as Salary, employment agreement, last 5 months bank statement of your bank account where you receipt income, Copy of 2 ID documents...) ALL DOCUMENTS ASKED ARE TOTALLY CONFIDENTIAL.
1: The developer gives the price of the purchase, and the bank make an offer
2: To fill in the application form with all information
3: To supply all documents asked by the bank. Everything stays confidential by the bank
4: To send everything to the bank by mail or fax or post
5: The bank takes 2/3 weeks to examine your mortgage purchase, and can ask complementary documents or informations
6: When the bank has all document and info, it gives its decision. If yes, the bank open for you a bank account.
7: The bank sends you the contract of the mortgage, and the insurance document
8: You have to keep it during 11 days, and send it back 12 days after with the mortgage insurance document
9: At the signature of the definitive contract in the notary office, the bank sends the money to the notary.
10: Every month, you have to pay the mortgage.