Carole Bayliss from our friend Mortgagefrance.com looks at how misunderstandings can dog the process of getting a French mortgage and the issues that have been confronting some of her clients.

Carole gives the example of a client who came to them with a seemingly straight forward mortgage request for an 85% mortgage and the income stacked up against this. However one comment he made, made them question this, he said he had already been made a firm offer but the interest rate is too high, I need your immediate attention as time is running out.

Carole says there is only one company who would potentially offer an 85% mortgage. She wrote a letter back saying that the interest rate would depend on the percentage deposit available. She thought that would be the end of it but he came back with another letter. This stated that he could raise the deposit to 20%.

This does have inherent problems however as filing for a new mortgage would constitute multiple applications being files and this is a practice into which Mortgage France does not venture. They clearly say they will not do it as their relationship with banks and lenders is very important. With his confirmed offer running out of time and with his deposit at risk of being claimed there was a degree of time pressure especially as all of this was taking place at Christmas. It turned out however that the gentleman had not had an offer at all but rather just a quotation from the bank. Alternative quotations where sought but much time had passed and lost in the process.

Carole also explains the problem of people not reading correspondence properly and not following proper Mortgage application procedures.

Carole then goes