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> Holiday
Homes > France
How much
can I borrow &
what proof of income
is required?
There are no non-status/
self-certification
mortgage facilities
available in France,
however renting
out your property
is permitted, therefore
all loans need to
be supported by
a minimum of, proof
of income. If you
are employed, you
will need to produce,
your last three
months payslips,
P60/employers reference
and your last 6
months personal
bank statements.
If you are self-employed
you will need copies
of your Audited
Accounts together
with you last 12
months business,
and 6 months personal
bank statements.
The Lenders in
France will not
take into account
any proposed rental
income from the
property that you
wish to buy.
Your loan will
be based on your
personal (or joint)
'net' pay, and is
calculated on an
affordability basis.
For you to be considered
by the lenders in
France you total
out-goings must
not exceed 40% of
your net monthly
income.
A simple example;
If your total net
monthly income is
£1,000, your
total out-goings
must not exceed
£400, you
must have £600
per month to be
put towards the
mortgage repayments
to be considered.
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