The mortgage procedure

Under French law, all mortgages are "full status" and a lot of documentation is required to support your mortgage application.

Lenders are obliged to ensure that any person applying for a mortgage is financially able to meet the mortgage repayments.

Apart from a completed mortgage application form, life assurance form and a copy of the Compromis that has been signed by both you and the vendor, you will need to provide photocopies of several documents see above PDF.

Subject to everything about your mortgage application being acceptable, a mortgage offer (offer preable du credit) will be issued to you.

The rules about signing and dating your mortgage offer are very strict. There is a 10 day cooling off period. This is a legal requirement and allows you sufficient time to consider the terms of your mortgage before returning the documents to the lender by post.

Some lenders will want their arrangement fee paid on acceptance of their mortgage offer and your life assurance policy will be put on risk from the date you signed the mortgage offer.

You must sign and date the offer letter after waiting 10 days but before 30 days have elapsed. If you get the date wrong, a new offer letter will have to be issued with another waiting period of 10 days.

When the lender sends you the mortgage offer they also inform your notaire of the details of the mortgage. Completion date should be concluded within 1 month of receipt of your acceptance to the mortgage offer.

Next: Completion day

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