If you are looking to invest in high end rental property,  found in purpose built resorts known as “Résidences de Tourisme” ,the benefits are very attractive.  Not only will your property be managed for you, ensuring contractually guaranteed income but you will also benefit from a full VAT refund on the investment property price.  And generally, you spend several weeks a year in your property for free!

If this type of investment is for you, Sextant French Mortgages will find the financial solution best adapted to your project. This is especially the case as we have a process of approval for development programmes which is a guarantee of their quality and means more security for you.

Your project in 5 easy steps

Step 1 – Contact Sextant French Mortgages

Discuss your needs with one of our bilingual personal mortgage advisors and  develop your financial plan together. You can also  find out exactly how much you can borrow.  You will then receive a detailed quote based on the information that you have given.

Step 2 – Find your French property

This step involves finding your dream property and ensuring that you have made the right choice. If necessary, call on professionals for advice. The next step will be to sign the preliminary sales agreement. Once you have signed this document no one else will be able to buy the property you have chosen. However, don’t forget that you  have a 7 day “cooling off period”, should you wish to change your mind.

Step 3 – Sign your reservation contract

The following step will be to sign the reservation contract. Upon signing it,  no one else will be able to purchase the property you have decided upon. However, remember that you have a 7 day cooling off period, if you want to change your mind.
You’ll also need to remember to insert a clause into the contract stating that it is subject to mortgage acceptance, otherwise, you will lose your deposit should the mortgage be refused.
Appoint a notary for the process (*). In France, the buying and selling of property is handled by a notary, who is a public official ensuring that all deeds of sale are authentic. Notaries are accountable for the drawing up of the deeds and, sometimes for the reservation contract too. The advice they give is objective and they must act impartially towards the various contractual parties.
Sextant French Mortgages will be able to give you details of English speaking notaries in France.
(*) Usually, the seller appoints a notary who must act impartially and ensure that the transaction is carried out correctly. However it is possible for the buyer to appoint his/her own notary at no extra cost to the buyer or the seller. The notary fees will be shared equally between the respective notaries.

Step 4 – Complete the mortgage application and life insurance forms

A simple process! Once these forms have been filled in, return them to your personal Sextant Mortgages  adviser. You’ll  also have to submit a certain number of other documents concerning personal details, income and any outstandings. Following acceptance of your application you will receive your Sextant French Mortgages loan offer of which a summary will have been sent to your notary.  By law, you must wait at least 10 days before accepting the mortgage. However, be careful not to exceed a 30-day deadline after which Sextant French Mortgages won’t be obliged to maintain the financial conditions of the offer.

Step 5 – Completion – more than just a dream!

In France it can take around two to three months from the moment you sign the preliminary sales agreement to the moment you sign the final deed of sale. The notary will make a written request to the bankto release mortgage funds and they will then transfer the agreed amount to the notary.
French law stipulates that the notary retains the original deeds of sale and you will be given an official copy.