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of their French mortgage.

Some people say,….. ‘Well I’ll have an interest only mortgage – my �300 will afford more’ �

No, the figure is based an a capital and interest repayment – it ensures that a person can afford to repay their mortgage.

And that’s the calculation – very simple, but very strict – one third of income, less any existing monthly commitments leaves you with the maximum amount you can use towards your French mortgage.

When it comes to making a mortgage application, there is a lot of documentation that needs to be provided with the mortgage forms, such as wage slips and mortgage or loan statements and credit card statements.� Bank statements are checked thoroughly and cross referenced as part of their financial underwriting procedure.

What the banks are looking to see is the stated income being received into a bank account and backed up by wage slips, or annual accounts and P60’s or tax returns to prove the income.

They will also check on what regular payments are being made to an existing mortgage or rent, any other payments that are made on a regular basis for loans, borrowings and credit cards.

From the information they can see, they will calculate, the same way as we have just done, the income vs expenditure.� So it makes sense to ensure that the amount of mortgage you are applying for falls within that third of monthly income. No one wants to be declined from mortgage finance.

If the bank sees regular payments being made to a bank or finance house and a statement hasn’t been provided with the supporting documents, they will ask to see the latest statement – that wastes time.

Or if they see

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