Mortgage Services Provided by Charles Hamer
NEW SERVICES AVAILABLE.
SPANISH MORTGAGES NOW AVAILABLE, LTV 70%.
PLEASE CALL JAVIER ON 01844 261886 FOR FURTHER DETAILS.
MARKET LEADER STERLING MORTGAGES NOW AVAILABLE, SECURED ON THE FRENCH PROPERTY.
PLEASE CALL JAVIER ON 01844 261886 FOR FULL DETAILS AND RATES.
What services do we offer?
Interest Rate Savings
As independent brokers we have access to the more competitive interest rates in France and the UK through both lending institutions represented in the UK (Typical APR 2.68%) and those exclusively found in France. We have computerized connections to the market as a whole in the UK and long standing relationships with the indigenous lenders of France. This access gives us the opportunity to provide you with a true comparison of the most appropriate means of finance of the day and we are able to provide significant interest rate savings (Typical APR 2.68%) compared with those lenders at the forefront of the market.
A SAVING OF 1% PER ANNUM ON 100,000 EUROS, EQUATES TO A SAVING OF 20,000 EUROS OVER A STANDARD 20 YEAR TERM MORTGAGE
We can obtain mortgages in France equal to 85% of the purchase price including renovation and agency costs for non residents. We can also achieve advances to 100% for those resident in France. High income multiples and flexible attitudes by lenders to ancillary income sources allows us to consider applications outside the strictest lending criteria of the mainstream. Including gites, residential/rental ventures and buy-to-lets.
SERVICES PRIOR TO PURCHASE
In addition to the possible cash savings generated by our broking expertise, we can also provide pre-qualification for a mortgage before you go out and find your property. Once instructed by you we include the following services over and above obtaining the mortgage agreement.
CONVERTING STERLING TO EUROS
It is important to choose the right company when looking at converting £s into Es prior to paying your holding deposit on the French property, and even more importantly, prior to paying your final cash contribution to the purchase, just prior to completion of the sale. The sums involved are considerable and therefore any saving in the exchange rate should be extremely helpful toward the purchase costs or the purchase of any incidental costs associated with the French purchase. Main stream banks,(including your own) do not specialize in foreign currency exchange, therefore it is always advisable to speak to a specialist company in order to maximise savings over those available through UK based banks. Our partner SMART FOREIGN CURRENCY EXCHANGE not only offers the assurance of being registered with the UK regulator – the FCA - but also from experience offers an excellent professional service to our clients.
SMART CURRENCY BROKER – to arrange a call back or to request a quotation to exchange Euros into sterling (at their exchange rate), please use this link: Smart Currency Exchange
We establish immediate contact with the notaire(s) informing them of your application for mortgage funds and ensuring that the "Condition Suspensive" concerning obtaining funds is adhered to, thus safeguarding your deposit.
During the course of the application, and once the mortgage offer has been issued, we provide an estimate of the purchase costs, verified by the notaire, giving sufficient advance notice of when and how much your contribution will need to be at completion, in addition to the mortgage funds and deposit already paid.
French bank account
We open a bank account on your behalf and oversee the initial deposit of funds to cover the first month's mortgage payment. If required a cheque book will be obtained, and subject to status, a Carte Bleue (equivalent to a UK credit card) may also be given.
Our role is limited to that of providing financial advice, and we recommend specialist legal advice be obtained regarding your contractual rights and obligations. We are in a position to oversee the completion of the Compromis in respect of the terms and conditions to obtain a mortgage, and confirm the estimated notaire's fees.
French Buildings Insurance
We will introduce you to insurers both in the UK and France and arrange for any existing policy held by the vendor to be abolished, if required.
We will organise suitable life policies in either the UK or in France, as is required, in association with the loan. In certain cases we can ask the banks to waive the requirement for life ansurance or allow the use of existing/external policies which can offer French inheritance tax benefits.
Power of Attorney
If completion is to take place by Power of Attorney we will liaise with the notaire to confirm that the document is suitable for the mortgage contract, and provide instructions for legalising the document in the UK.
SERVICES AFTER PURCHASE
By means of a quarterly newsletter, to which subscription is free, all our clients receive up-to-date information of financial developments both in France and the UK which may have a bearing on French property ownership.
Complimentary Tax and Social Security Reports
Many buyers of French property either wish to generate an income via holiday or long term lettings, others intend to immediately or eventually retire to France. Charles Hamer has several introductory reports covering a wide range of topics from French taxation of furnished holiday lettings, to the cost and obligations of adhesion to the French Social Security system. All are available to our clients on request and without charge.