Two for Two: Inside Information on How to Get a French Property Loan
It all started with a loan.
Six years ago when the landlord said he wanted to sell my apartment, I set out to find a way to borrow the money. I remember it as if it were yesterday.
I tried everything — as my first instinct was to talk to the bank where I had an account here in France and to those in the States. They laughed me out the door. No U.S. bank was going to lend me money to buy a property overseas, at least at any kind of normal interest rate. My French bank laughed even harder. “Where is your monthly French salary?,” they asked.
It wasn’t until a friend suggested the British banks that specialized in loans to foreigners and non-residents. I submitted applications to two lenders — they were the only two offering mortgages to people like me at the time. Today, these two banks are both French-owned and known as BPI (Banque Patrimoine et Immobilier) and UCB, a division of BNP Parisbas.
One of them accepted my application enabling the purchase of my first apartment. It was a momentous occasion, although I didn’t know it then as I am still working with these two banks very closely. They were the foundation that led to developing relationships with other lenders — as new lenders have come on to the market, offering similar loan products and catering to a growing foreign market.
Because my property grew rapidly in value, more than tripling in fact, BPI offered me the opportunity to take an equity release to purchase not only one, but two small studios. One of them you know as “Le Provençal,” a rental apartment in the Marais that has been successfully booked from the beginning.
The second one is soon to materialize! At this very moment, I eagerly await confirmation that my offer was accepted and will be sealed in writing very soon on one that I plan to call…oh la, la…too soon to divulge! (The secret is not yet out.)
There is no doubt that these properties are good investments. They will provide the financial security I’ve always dreamed of and perhaps the ability to afford even more sometime in the near future, growing a valuable portfolio that will secure an income during retirement and eventually an inheritance for my daughter.
Offering mortgage assistance to our clients and readers who dream of purchasing property in France is vital to fulfilling those dreams and profiting from the investments.
There are many reasons that taking a mortgage makes good sense in today’s financial environment over paying cash for your French Property. In fact, this topic will be the focus of this week’s French Property Insider Newsletter. I’ll be explaining all the reasons why buyers should consider a mortgage over plunking down a big chunk of change at today’s rate of exchange.
And thanks to the relationships we now have with these lenders, we are able to directly connect you with them, long before you start your property search — the smart way to prepare for your property purchase.
It’s not new for us, but it’s new for you. Now you can go directly to /frenchproperty/loan for information on why and how to get a mortgage. At FrenchPropertyLoan.com, you’ll be able to write our lending agents directly and request applications.
BUT I WARN YOU. Do not hastily email every lender on our list! These lenders are highly competitive. If they believe they have TOO MUCH competition to get your business, they may not work as hard as they should for you.
This is where you will want our assistance and advice. We can steer you in the right direction and connect you with the lenders that make the most sense given your personal situation.
And this is where French Property Insider plays an important role.
Six years ago when I made that first property purchase in Paris, I was pretty naive. Not any more. Now after years of working within the industry, there’s very little about the property purchase process I don’t know, and what I don’t know, I know who to ask and how to find out. In fact, I’ve made it my business not only to know, but to share this information with you…in our weekly electronic magazine (e-zine) called French Property Insider devoted to educating its readers on how to effectively, efficiently and profitably purchase property in France.
* How to find great properties in Paris and France…
* How to structure your real estate purchase…
* What pitfalls to look out for…
* How to work with your “Notaire” (property attorney)…
* How to minimize your capital gains tax obligations…
* How to rent and earn a profit from your French properties…
* Plus how to build a rich and fulfilling life in France.
French Property Insider also contains listings of apartments and homes for sale as of each writing — that provide a sampling of what’s on the market at the time. Property prices are reported regularly — as often as the Chambre de Notaires updates them (quarterly). New laws and changes to existing laws are brought to light. The ins and outs of purchasing specialty properties, such as the “viager” or 1948 rent controlled apartments is often on the roster.
You’ll also find articles on culture and lifestyle to help you learn those important things necessary to “fitting in,” wherever you choose to rent or buy.
It’s all at your fingertips…every single week! And today we have a special offer for you in TWO parts.
Special Offer Part One:
With your subscription, you will receive FREE reports to help you make your dreams of living or retiring in France a reality…
“The Paris Property Report”: Designed to answer all your questions about buying in Paris…
And…”The French Leaseback Program: Are Leasebacks for You?” This report gives you the background and history of the program, the ins and outs, ups and downs, pros and cons — the truth about the French Leaseback “scheme.”
Plus…as a subscriber to French Property Insider, you will be invited to run FREE 3 months of online classified text ads on our Web site or 3 FREE text messages inside the weekly newsletter. You can use your free ads to advertise a property you have to rent or to sell.
Plus…as an FPI subscriber, you’re entitled to a special discount price on our highly informative electronic Insider Paris Guides!…the “Insider Paris Guide for Good Value Restaurants,” online since 1996!; the “Insider Guide to Practical Answers for Living in France” by Jean Taquet with more than 200 questions from real people and all the practical answers for Living in France; the “Writers Insider Guide to Paris” by Elizabeth Reichert, for novelists, journalists, poets, dreamers, and doers alike! And the “Insider Guide to Black Paris” by Melinda Herron — the first guide of its kind, totally devoted to Black Paris.
That was all just Part One! Now for Part Two.
When you subscribe today for TWO years at the low price of $79.50, you will receive TWO EXTRA months of issues of French Property Insider! Not only will you get 100 weeks of great reading over the course of two years, but you’ll also get an extra 8 weeks so you won’t have to miss a single word!!
FPI gives you all the ways to make buying property in France a successful proposition. At less than 74 cents an issue, ($79.50 ÷ 108 issues = 73.6¢), reading this important information could save you THOUSANDS of dollars on such an important purchase as a home in France.
Ridiculous, isn’t it?
For the lover of France…the would-be French property owner… the dreamer of a new life in this glorious country…it doesn’t get much better than this. For a pittance, you’ll get all the services and benefits I’ve described, including 108 opportunity-packed and informative issues of French Property Insider.
Right now, and only until December 31st, the opportunity is yours. Take TWO years and get TWO EXTRA months, absolutely FREE!
Click here to read a sample edition to be sure French Property Insider is right for you! /frenchproperty/insider/fPI_Sample_Edition.html
Or, click here to subscribe!
It’s that easy — and you’ll be on your way to making your dream come true! Become a subscriber today.
P.S. Of course, if for any reason you are not completely satisfied with your subscription to French Property Insider, you have my personal guarantee. You can cancel at anytime for a pro-rated refund, no questions asked.
P.P.S. Taking advantage of /frenchproperty/loan costs you NOTHING. It’s all part of being a reader of French Property Insider — a big bargain when considering how much you’re going to invest, to ensure you make your investment profitable!