If you're here, you're likely curious about financing your real estate project in France. As a foreigners, partnering with a broker can be a game-changer. But how does it work in France? What are the benefits? Let's break it down so you understand it better.
What is a mortgage broker?
A broker isn’t a banker or a customer – they’re the bridge between the two. Acting as your representative, they prepare your application and negotiate favorable mortgage terms in France. They work hard to secure you the best deal on the market. Here's what they can do for you:
- Help you buy your future home in France under the best possible conditions.
- Find for you the best interest rate.
- Get you an optimal mortgage insurance.
- Negotiate exemption from early repayment penalties.
- Ensure flexible repayment options.
- Speed up the loan approval process.
- Make sure your loan meets social and environmental standards.
All of this? You bet! You may need to prioritize what matters most to you, but your French mortgage broker will guide you through these choices. Ultimately, you remain in control of all decisions.
Why choose a broker for your mortgage needs?
There are three key reasons: expertise, saving time, and money. Let's break it down:
- Expertise: A mortgage broker is a true credit expert. They analyze your profile and project to find the best financing solutions and banks for your needs. Terms like fixed rate, variable rate, usury rate, TAEG, and TAEA are second nature to them, and soon will be to you as well!
- Saving time: Working with a broker means avoiding preparing multiple applications or sitting through long, repetitive meetings with banks. Plus, brokers have a direct contact with decision-makers, so they can often get your loan approved faster.
- Saving money: Thanks to their high volume of business, brokers can secure rates that you might not get on your own. They ensure a high-quality commercial relationship with your chosen bank, helping you maximize your benefits.
What does a mortgage broker do?
Your future mortgage broker is there to guide you from the first idea to the finalization of your project. Think they just negotiate on your behalf? That's just the beginning! Their role is much more comprehensive, all aimed at making your life easier.
Step 1: Help you define your budget
Before you start looking for your new property, you need to know how much you can borrow. With insider knowledge of each bank's criteria, your mortgage broker can help you maximize your budget.
Curious about how much you can borrow? Take the test!
Step 2: Add value to your offer
Found your dream property? So might other buyers! Once your budget is approved, your expert will edit a pre-approval letter to show real estate agents and sellers that you're a serious buyer. This document certifies your borrowing capacity.
Step 3: Help with the paperwork
Preparing multiple loan applications with different documents for each bank is time-consuming, especially if you're a non-resident. Your broker understands your project and profile, saving you valuable time.
Step 4: Negotiate your rate
Since 2017, Pretto has been building and nurturing partnerships to better serve you. Our close relationships with banks are priceless, and our increased business volume now ensures that we can offer you the best rates available.
Step 5: Negotiate your insurance
The mortgage insurance can account for up to 25% of your total financing cost. Your broker will negotiate to get you the best possible terms, reducing your overall expenses.
How much does a mortgage broker cost ?
On average, mortgage brokerage fees in France typically range between 1% and 2% of the mortgage amount, equivalent to approximately 2 000€ to 3 000€ For non-residents and foreigners, these fees can vary between 1% and 3% of the property's price.
At Pretto, our pricing is fixed: €1,990. For non-residents and foreigners, our fee is 0.9% of the borrowed amount, with a minimum of 2 490€ (excluding special projects). You only pay us if you accept the loan we find for you. Until then, everything is free!
Our fees are especially competitive thanks to our online model, which allows us to avoid the high operating costs of traditional local agencies. The savings on office space and utilities are passed directly to you!
How to find a mortgage broker?
Finding a mortgage broker can be more complex for non-residents and foreigners, as banks often apply specific conditions to this type of borrower. To find a French broker to help you with your purchase in France, we advise you to turn to a broker who knows the specificities of the market and the banks' conditions for this type of borrower. They will be able to offer you solutions tailored to your situation.
To ensure a broker is trustworthy, check their registration with the Registre du Commerce et des Sociétés (RCS) to confirm the business is legitimate. Additionally, make sure they’re registered with ORIAS (Organisme pour le Registre des Intermédiaires en Assurance) to verify they’re authorized to operate as a broker. You can check their registration directly on the ORIAS website.
You can also trust us with your project. At Pretto, we have a dedicated team specifically for non-residents and foreigners. Our brokers are fluent in English, ensuring seamless communication.
Who are we?
We're not your average brokerage—we're a game-changer. Our 100% online platform completely revolutionizes the property buying process. No matter the size of your project, we've overhauled the entire experience with cutting-edge online tools and unwavering support.
As a non-resident or foreigner, you're in good hands with us. Our specialized team for non-residents speaks English and is trained to handle your specific requirements with ease.
What makes us stand out?
- The right distance for greater proximity - that's our motto! Our fully digital setup means you can reach us via video call or phone whenever and wherever suits you best. And when we say phone, we mean your dedicated broker's personal line, not some unreachable hotline.
- Transparency is our guiding principle. Our mission is to help you achieve your goals, and that means explaining everything in detail so you can make the best decisions. With us, you'll have access to all our tools and know exactly which banks we've approached on your behalf, as well as any feedback we receive.
- Our fees are hard to beat. Thanks to our efficient online model that cuts out the hefty costs of traditional brokerages. We're all about saving you money! Plus, if you decide not to go ahead with the loan we secure for you, you won't owe us a cent.
Good to know
At Pretto, we're connected with 100 banks across France, offering you plenty of options.
Here's how we guide you through your journey:
From the moment you start considering your project to finding your dream property and even after you've found it, we're by your side every step of the way until you're settled in.
Here's what you can expect:
- Access our free tools and services.
- Use our loan simulator to see what's possible.
- Get expert advice from your dedicated Pretto advisor.
- Sign off on the perfect mortgage for your needs.
