Main Home Purchase, Alpes Maritimes - 525.000€ purchase price
This was a good challenge again, as it was an English client that had his own company based down here in France, that had just arrived passed the critical 3 years of activity, so the client was able to provide 3 years of company accounts.
What was needed?
The client was looking for 100% finance of the purchase price for the apartment in Nice, he had approached his own bank and they would only lend 70% of the purchase price.
What was the challenge?
That is when he came to us here at HB Property, as he wanted to keep his savings for renovation and not have to draw extra money as income from his company. After approaching a number of banks, the issue was the client’s company turnover had more than tripled from year one to the third year and his income had tripled also. So, it was a challenge to find a bank that would take into account the income increase and the company turnover and not take an average over 3 years, but see the strong constant increase and future growth potential for this young client.
The HB Mortgages solution
We managed to find the client a 100% LTV over 25 years with a fixed rate of 1.8%, so the client only had to cover the notary fees. These conditions were obtained because the client was a French tax resident, with three years of company accounts and three years French tax returns.
So, if you are a resident here in France and would like to explore all the options available to you for financing your property purchase here on the French Riviera please do not hesitate to get in touch we would be happy to help.
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