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Financing of the purchase of a second home in France by French banks

June 11, 2020

Are you considering buying a second home in France? You will have noticed that the corona crisis has made everything difficult. Also the possibilities of financing by banks in France. The market for buying and selling houses in France is slowly but surely starting up again. This also applies to the lending of (second) homes by French banks. Although mortgage interest rates in France have increased slightly, they are still very attractive. The Observatoire Crédit Logement CSA notes that the average interest rate (all terms and outside life insurance costs) from December 2019 to date has increased from 1.12% to 1.17%. The terms vary from 15 to 25 years. Customization is often also possible for the purchase of special second homes in France, such as castles, manor houses, country houses and chalets in the French Alps.

The French government, in the person of the housing minister (de la ville et du logement), Julien Denormandie, states that the government considers it imperative that the French banking system continues to play its role of lender actively, so that the French real estate market is continues to function. On the other hand, the banks do impose somewhat higher demands on the creditworthiness of buyers of second homes in France.

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