First Hibernian - Foreign Mortgages 2005

First Hibernian brings together 4 different services vital for successful property investment, in conjunction with our French partners.
	Specially selected property development schemes in France’s largets cities resort areas satisfying stringent criteria of quality and location

	Property management services provided by the most competent professionals in each region

	Insurance cover: guaranteeing against rental arrears, neglect and vacancy

	Tailor made financing solutions with up to 80% finance available

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First Hibernian work with a number of partner banks in France to get you the best possible financing deal. We can look at a variety of financing options to suit your requirements.

It is normal for the buyer to take out a mortgage in France to finance their investment. This will ensure that the buyer is best positioned to obtain a tax deduction for the interest borrowed against any rental income. French banks typically lend 70% of the purchase price (although 85% can be arranged in certain circumstances). You can expect to pay a mortgage arrangement fee of approx. 1%. In the case of a new property development a staged loan drawdown can be arranged usually with minimal repayments until the loan is fully drawn down.

Mortgage protection insurance will be required and is normally arranged through the bank.

If you intend borrowing to finance your investment it is important that this is disclosed when you sign the preliminary purchase agreement. (Compromis de Vente)