Your Mortgage Application: What Documents Does The Bank Need?

It can be quite hard to understand the cautious approach of French banks and their completely different attitude to borrowing and lending than in other countries. When applying for a mortgage, here are the documents required for the application – the object is to prove you earn three times the monthly repayments.

• Identity card, passport etc. proof of identity
• Pre-sale agreement/Promesse de Vente or details on proposed real estate project
• Marriage or divorce papers, if divorced
• Marriage contract, if there is one
• Last 2 income tax returns – or more if you are self-employed
• Last 3 full months of bank statements
• Details of other loans and statements (tableau d’amortissement)
• Proof of down payment (normally 20% of purchase price)
• Proof of notaire fees (normally 7-8% of purchase price)
• Proof of incoming rent if you have rental property
• Title deeds of all your properties
• Your rent slip, if you are renting
• Your last 3 payslips if employed
• If you are self employed or own a company, your by-laws, company registration and last 3 years of balance sheets
• If you’d like to renovate and finance this also, quotes from the builders
• If the property you are buying is for rental you need an estimation of future rent from an agency or the current lease if property is already rented
• Statements of all your assets (funds, portfolios, savings accounts etc.)