When you’re looking to invest in property, a traditional broker dedicated to resident individuals will help you very quickly find the best financing at the best rate.
The market for lending to non-resident individuals is very different from the traditional mortgage market. For this reason, Carte Financement, a brokerage that specialises in non-resident clients, comprehensively studies the plans of each of its clients with a view to offering them financing solutions that fit their needs.
Step 1 : A key step, learning about the client’s situation
Besides doing credit analysis, the role of a broker specialising in non-resident clients is to understand the situation of the country where the client lives in order to make sure that it is compatible with the rules of French banks for opening an account and obtaining credit. The ease with which a loan can be obtained does not just depend on the client’s income; rather, it depends on the extent their application meets the rules of French banks. Some banks have a very specific list of borrower countries of residence that they will agree to do business with.
Brokers also ensure that clients are in good standing in every respect in their countries of residence. This is a crucial point for agreement from the bank.
Carte Financement anticipates all the problems that may arise with the country in question, whether they be geopolitical, monetary, tax-related, regulatory, or other problems. We perform a detailed analysis that includes, among other things, banking procedures (money transfers, cash deposits, etc.), the origin of the down payment, the ability to transfer this down payment, the client’s work contract, etc. Thanks to this discovery work and the technical skills of our brokers, who are experts on the issues of each country where they support clients, it is possible to know from the very beginning whether the plan to purchase has a chance of coming to fruition. This allows clients to not waste their time.
During this step, we determine which banking partners are willing to provide financing to non-residents and we determine ahead of time what their lending conditions will be. In this discovery phase, unlike generalised brokers, who only look for the best rate, Carte Financement gathers all of the information needed to create a client profile that will allow us to find the right solution.
Our specialised brokers are also there to explain to non-resident clients all of the differences that there might be for them compared to a client residing in France. Our brokers are available to answer your questions, with work hours adapted to different time zones.
Once the brokers have all of the necessary information, they can offer you a simulated mortgage, explaining to you the financial conditions of the loan.
Step 2 : Find a property
The next step is to find the right property for you. Carte Financement has relationships with many different estate agents that can help you in your search, even if you are searching remotely. Like us, our partners regularly work with international clients and know how to adapt to their constraints (issues with travel, time zones, language, etc.).
You should note that banks do not review applications until a property has been identified and a sale agreement signed. Banks never grant approval in principle in advance. The feasibility opinion that we issue to you is based on over 10 years’ experience in this industry and a perfect understanding of banks’ lending criteria for non-resident clients. Many brokers treat non-resident clients as a rarity. At Carte Financement, we have a team dedicated to this group of clients. It’s what we do.
Step 3 : The client has chosen a property
The client comes back to the broker once they’ve found a property.
According to the client’s profile, the broker asks for a personalised list of documents. For example, in the list of documents, the broker will not ask for a tax assessment document from a country where there is no income tax.
With no back and forth or misunderstandings, this ad hoc list is important because it truly helps save time for both parties. It also helps a complete application to be put together, which is essential if you want to optimise your chances of obtaining a mortgage.
After the documents requested from the client have been submitted, we analyse and study the application to make sure that there are no grey areas and that everything is clear and in good order.
Step 4 : The application for the bank
It is only once the broker is certain that the application has a good chance of being accepted by the bank that they will send it to banks likely to grant a mortgage.
Generally speaking, an agreement in principle is received within one to two weeks. This lead time is very short because our brokers prepare the “perfect” application ahead of time, anticipating any potential problems. The agreement in principle is a commercial offer that includes financial as well as commercial conditions (account opening, savings, insurance, etc.). We will already have explained in advance to our client the commercial conditions that the different banks will ask for, so there are no unpleasant surprises.
Since it’s important to be sure, Carte Financement also provides support for insurance issues through its partner, Valorama. It is our role to support you through all financing issues, from mortgages to insurance.
Our role does not stop at receiving approval or a lending offer. The administrative side of things can be complicated and burdensome. Everything is much more complicated when you’re working from outside the country. We do everything we can to make your life easier so that you can make a property investment under the best possible conditions. We support you through many different processes, such as managing exchanges by DHL courier, organising meetings with bankers in person and over the phone, filling out documents for the bank, as well as, if needed, documents needed in your discussions with notaries, estate agents and sellers.