Buying a property in France

Reuben Allonby

A comprehensive guide to buying property in France from the UK: maximising value with GBP to EUR international money transfers

Discover the ins and outs of purchasing French property from the UK and how to save on international money transfers.

About Equals Money

Are you a UK resident dreaming of owning a beautiful property in France?

Whether you're seeking a holiday home or a permanent residence, buying property in France from the UK can be a rewarding and profitable venture. However, navigating the process and managing international money transfers can seem daunting.

In this blog post, we'll guide you through the essentials of buying French property and discuss how to save on GBP to EUR international money transfers to maximise your investment.

  1. Property Search and Legal Requirements: The first step in purchasing property in France is to identify the location and type of property that best suits your needs. Popular areas include the picturesque Provence, the charming Côte d'Azur, and the idyllic French Alps. It's essential to familiarise yourself with French property law and enlist the help of a notaire (French public official) to handle the legal aspects of the transaction.
  2. Financing Your French Property Purchase: You can finance your French property purchase using a UK mortgage, a French mortgage, or cash. UK banks generally require a larger deposit and may have less favourable terms than French banks. To save on international money transfers, consider using a currency exchange specialist instead of a traditional bank. These specialists often offer more competitive exchange rates and lower fees, helping you save on your GBP to EUR transfers.

The property buying process in France

The French property buying process typically consists of two key steps:

a. Signing the Compromis de Vente: This is the initial sales agreement, which outlines the property's details, the agreed-upon price, and any conditions of the sale. Both the buyer and seller sign this document.

b. Signing the Acte de Vente: This is the final sales contract, which must be signed in the presence of a notaire. The notaire will then register the property transfer and provide you with a copy of the deed.

The property buying process in France

Taxes and fees

When buying property in France, you will need to pay various taxes and fees, including:

  1. Stamp duty: Paid by the buyer, this tax is generally between 5% and 10% of the property's purchase price.
  2. Notaire fees: These fees typically range from 2% to 3% of the property's value.
  3. VAT: If you're buying a new-build property, you'll need to pay a 20% VAT.

Maximising value on GBP to EUR international money transfers

To ensure you're getting the best value on your international money transfers, consider the following tips:

a. Use a currency exchange specialist: These specialists often provide more competitive rates and lower fees than banks, saving you money on your transfers.

b. Set up a forward contract: This allows you to lock in an exchange rate for a future transfer, protecting you from potential currency fluctuations.

c. Monitor exchange rates: Keep a close eye on the GBP to EUR exchange rate to transfer funds when the rate is most favourable.

Buying property in France from the UK is an exciting and potentially rewarding venture. By understanding the property buying process and using currency exchange specialists for your international money transfers, you can maximise the value of your investment and make your dream of owning a beautiful French property a reality.

Equals Money

With great rates for more than 100 currencies, a range of payment options, and an expert account manager to monitor the markets for you, Equals Money can help facilitate your purchase of a property abroad.

Thinking of buying a property in France? Request a quote for your international payment today.

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