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French and Spanish Mortgage Brokers
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French mortgage deal of the week, funding to purchase a French chateau

Friday, 26 July, 2019



Repayment Mortgage                      1 750 000
Fixed interest rate                                 0.89%     
Mortgage payment pm                        10,389 
Estimated French life assurance pm  waived 
APRC                                                  1.00%



Our client found a beautiful French Chateau and his offer to purchase was accepted.   He had been gazumped on an earlier purchase , which as it happens he was considering purchasing .   He had found that the majority of French banks would not consider funding for the purchase of a chateau.  .  He had therefore resigned himself to purchasing for cash reluctantly as this would have mean't that he would not  have benefitted from offsetting the interest paid on a French mortgage against the French Wealth Tax that he would have to face .
After the disppointment of losing the First purchase , his offer was accepted on another Chateau . He approached us and we obtained funding from a French bank who is exclusive to Charles Hamer based on a French repayment mortgage of 1.750 000 E on a fixed rate of 0.89% over a term of 15 years.
The bank requested a sum of £800,000 to be be placed on either a savings account. in shares or an assurance vie .   

The APRC (annual percentage rate of charge) serves to illustrate the anticipated cost over the full term of the mortgage taking into account :


The bank arrangement fee           500 

Charles hamer arrangement fee         12300  

The mortgage regisration fee                7320  

The interest paid over the mortgage term 

The bank did not require a life assurance policy to be taken out