There are several avenues one can choose when getting a mortgage in France. The trick however is obtaining a mortgage which is specially targeted and tailored to your unique needs. High-value mortgages can be especially complex and require expert solutions and guidance from an experienced mortgage specialist. St Tropez House discusses high-value mortgages and potential solutions for how to obtain one with Fortier Finance CEO & Founder Liam Wilkinson in an effort to demystify the world of high-value mortgages in France.
Fortier Finance is a regulated French mortgage broker based in the heart of the French Riviera. They specialise in high-value mortgage solutions for UHNW individuals and pride themselves in offering the highest quality of service to their clients. St Tropez House highly recommends speaking to an independent mortgage broker when searching for the ideal property to purchase on the French Riviera. Benefit from their international banking network and problem-solving know-how to obtain a tailor-made mortgage solution.
St Tropez House compiled a number of pertinent questions asked by our clients and asked CEO & Founder of Fortier Finance to provide his insight.
Why should I speak to an independent mortgage broker if I already have a relationship with my bank?
All of our clients will have an existing private banking relationship. The difference in seeking the services of an independent mortgage broker is we can explore a broader range of options and consider alternative solutions – domestic and international. Private banks are limited in what they can offer.
Why should I use an independent mortgage broker to get my mortgage?
The lending market in France is buoyant with many domestic and international private banks providing high value mortgage solutions. An independent and local mortgage broker has access to these banks thanks to a trusted panel of retail, challenger and private banks. Your dedicated broker will provide independent guidance and client-focused solutions to find the perfect mortgage.
Why would someone get a mortgage if they don’t need one?
Not everyone will initially consider a mortgage as they might not need to; however, it is important to consider the day 1 leverage as lending rates remain historically low (circa 1,05% + Euribor floored at 0) and the potential to invest the liquid cash in other investments or business activities. It is also recommended to review the property wealth tax in France (IFI) and how a high value mortgage solution can ensure wealth preservation for UHNW clients.
What are the main objectives of a mortgage broker?
The common objectives include:
- Highest loan to value
- Best rate
- Minimum amount of pledged assets under management (AUM)
- Transparent fees and associated costs
How long does it take to obtain a mortgage in France?
It is important to consider the mortgage timeline in France which can take up to 12 weeks from sale agreement to legal completion.
What are the benefits of using U.K & European Private Banks?
Private banks can be pragmatic and provide out-of-policy solutions if the clients’ can present a clear road map to a wider private banking relationship – this can include ‘dry’ lending solutions with little to no assets under management.
It is also important to consider one’s global assets outside of France; thereby, it might be possible to raise debt against another property to support a large property purchase in France. This can include (and not limited to) Italy, Spain, Monaco and U.K.
What if I do not qualify to get a mortgage?
Many clients might not ‘fit’ the traditional credit underwriting process so it’s important to discuss your individual circumstances with an independent mortgage broker who can provide a bespoke lending solution in France and assess your global situation.
The most common situations include low or no fixed income entrepreneurs, asset rich and cash poor clients. Contact Fortier and we will provide you with an independent assessment.
The complex world of high-value mortgages is one which is much easier to navigate and conquer with the help of a dedicated specialist. Allow yourself the time and dedication required to find your perfect property and let your mortgage broker handle the rest.
To contact Fortier Finance, visit their website