M and Mrs L. 53 and 51 years old. French couple living and working in the US on a local employment contract.

Client requirement:

Our clients contacted us as they were planning to purchase a holiday cottage in Britanny. Their intention was to spend a few months a year in Britanny before retiring there in 12 to 15 years time.

Our clients already owned two buy to let properties in France and had a long term established banking relationship with a leading French High Street bank. Due to their US residency status and FATCA related restrictions, our clients’ mortgage application had been denied by their bank.

Bluesky Finance mortgage solution :

Capital repayment loan with the following terms :

80% LTV Capital repayment loan
20 year fixed rate
Interest rate per annum : 1.35%
No early redemption penalty
Term Life insurance arranged with a 3rd party
Requirement to deposit 20% of the loan amount with the lender. No pledge registered.
Optional life insurance policy

Our clients are now enjoying the warmer months in beautiful Brittany with no end of beautiful coastal walks and a delicious seafood lunch to look forward to in every town. They rent out their property the rest of the year to friends and family but they fully intend to retire to France as was the plan from the start

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