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In short
French Finance prequalifies UK and international buyers of French property and introduces them to the leading, reputable specialist mortgage brokers and lenders we work with. French Finance is a trading name of Propertas Ltd, which is not authorised or regulated by the Financial Conduct Authority. Mortgages on property outside the UK are not currently covered by UK mortgage regulation. We do not lend money and we do not give financial advice.
Who operates French Finance?
French Finance is a trading name of Propertas Ltd. It is based in London and is part of the OverseasLend group.
| Trading name | French Finance |
|---|---|
| Operating legal entity | Propertas Ltd |
| Company number | 09828477 |
| Registered office | 2nd Floor, 105 Farringdon Road, London EC1R 3BU |
| Regulatory status | Propertas Ltd is not authorised or regulated by the Financial Conduct Authority. Mortgages on property outside the UK are not currently covered by UK mortgage regulation. |
What do we do and not do?
We publish guides and calculators about buying and borrowing in France. When you send us an enquiry we prequalify it, which means checking your case against the criteria used by the lenders we work with. If it fits, and you agree, we introduce you to one of the specialists we work with.
If you ask, we also introduce you to the leading, reputable insurance brokers, currency transfer providers and removal firms we work with. We pass on your name and contact details and the firm deals with you directly. Our services page explains how this works.
We do not lend money. We do not give financial advice or recommend a particular lender or product. We do not sell, recommend or advise on insurance. We never handle or hold client money.
Who do we work with?
We work with leading, reputable specialist mortgage brokers and lenders. The specialist we introduce you to packages your application for lenders and works with you through to a firm loan offer. Some lenders can issue a written decision in principle once they have assessed your documents.
How are we paid?
- Mortgages: most overseas lenders do not pay brokers a commission. The fee for our mortgage service is a success-only 1.9% of the loan, which you agree in writing before any work starts. You pay nothing if you do not get a loan. The fee falls due when your loan completes and the funds are released.
- Other charges: we do not charge you anything else.
- Introductions: suppliers we introduce you to may pay us a fee when an introduction leads to business. We tell you before we make an introduction.
The lender’s own arrangement fee, the frais de dossier, is separate and is included in the TAEG, the all-in annual rate. In France the rules stop a registered broker taking payment before your loan is granted. Our mortgage rates guide explains the fees that come with a French loan.
How are credit intermediaries regulated in France?
This section is general background. It is not a statement of our status, which is set out above.
- French credit intermediaries are known as IOBSP. The categories are the courtier or broker (COBSP), MOBSPL, MOBSP and MIOBSP.
- All of them must be registered with ORIAS and are supervised by the ACPR. Since 1 April 2022 courtiers must also join an ACPR-approved association.
- An indicateur only points people to a lender or intermediary through advertising material, or passes on contact details. An indicateur is not an IOBSP, does not register with ORIAS, may receive a commission d’apport and must not present, propose, assist or advise.
- Passporting between the UK and the European Economic Area ended on 31 December 2020, so UK firms cannot rely on it to work in France.
Source: Code monétaire et financier, article R519-2 for the indicateur rule.
Is French Finance regulated in the UK?
No. French Finance is a trading name of Propertas Ltd, which is not authorised or regulated by the Financial Conduct Authority. We say so plainly so that no one assumes our service carries the protections of a regulated firm, such as the Financial Ombudsman Service or the Financial Services Compensation Scheme.
A loan secured on land in France is not a UK regulated mortgage contract, because that definition requires the land to be in the UK, so the FCA’s mortgage rules do not cover it. That is also why many UK mortgage networks will not arrange it. The loan is covered by French consumer credit law instead, which has its own protections, such as the 10-day wait before you can accept a loan offer.
How are currency transfers handled?
If you need to move money into euros, we refer you only to the leading, reputable currency transfer providers we work with, and only to firms that hold the registration their work needs. French Finance never handles or holds client money. Payments over €3,000 to a notaire must go by bank transfer to the notaire’s account at the Caisse des Dépôts.
Source: Notaires de France on payment methods.
How do we share your data?
When you agree to an introduction we pass your details to the specialist we introduce you to and keep a record of that referral. To find you a loan your details may then go to lenders in France, which is an international transfer. Our privacy notice explains what we collect, who receives it and your rights.
How can I complain?
Our complaints procedure explains how to raise a complaint with us and what happens next. It also covers data protection complaints, including your right to complain to the Information Commissioner’s Office. If your complaint is about a supplier we introduced you to, we pass it on and help you get a response, and that supplier’s own complaints procedure also applies.