We were recently approached by a Dubai resident and Jordanian national who was looking to purchase a holiday home in the south of France. The client had what most lenders consider to be ‘complex’ income.
Many Dubai residents fall into this category, given multiple income streams, multicurrency income, or income derived through corporate or estate planning structures are fairly standard for wealthy families and individuals across the MEA region.
Finding a lender that can accommodate and understand how you generate income (and how secure it is) is a must because not every lender will cater to you if they deem you have complex or unusual income. Working with a broker that knows the lenders that can cater to you and tailor a package to your financial situation is often the surest and easiest way to secure a French mortgage if you have what is considered complex income and you are a non-EU resident living in Dubai.
Here at Enness, we always start by analysing your assets and financial situation to get a grasp of what the best option for a French mortgage will be. Your broker will discuss and explain your options in detail, covering who the best lenders are likely to be and how they plan to present your application. In this case, we successfully arranged a dry loan at a competitive rate of 1.8% variable over a 10-year term.
If you have questions or would simply like to talk more about French mortgages as a Dubai, UAE or MEA resident, get in touch. A broker will reach out to you to discuss your needs and talk in more depth about any questions or queries you have.