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Get the best Euro € rate

The French property buying process includes a contract called the "Compromis de Vente" where the term of the sale are laid as well as the price – which will be in euros. So if you are living in the UK you will need to convert pounds sterling in to euros so you can complete the purchase of your property in France. The same applies if you wish to change dollars to euros or other worldwide currencies.

A Foreign exchange currency broker can offer favourable rates on these transactions and could save you a small sum which go towards a new kitchen, bathroom or swimming pool!

If you are considering buying a French property, it is essential to understand the complexities of currency exchange rates and how they can impact your purchase. A currency broker can provide you with valuable assistance in this process, helping you to secure the best exchange rate and save money on your property purchase.

Here are some of the reasons why you should consider using a currency broker when buying a house in France:

1. Competitive exchange rates:

A currency broker can offer you more competitive exchange rates than banks, which can save you a significant amount of money on your property purchase. They have access to a range of currency markets, which means they can offer you better rates than banks and other financial institutions.

2. Expertise:

Currency brokers are experts in foreign exchange, and they have a deep understanding of how the currency markets work. They can provide you with valuable insights into market trends and help you make informed decisions about when to buy or sell currency.

3. Personalised service:

When you work with a currency broker, you will have access to a dedicated account manager who can provide you with personalised service. They can guide you through the currency exchange process and answer any questions you may have along the way.

4. Flexibility:

Currency brokers offer flexibility in terms of how you can transfer your money. You can choose to transfer your funds in a lump sum or in installments, depending on your needs and preferences.

5. Peace of mind:

When you work with a currency broker, you can have peace of mind knowing that your money is in safe hands. Currency brokers are regulated by financial authorities, which means they are required to adhere to strict standards and regulations.

In conclusion, using a currency broker when buying a house in France can provide you with many benefits, including competitive exchange rates, expert advice, personalised service, flexibility, and peace of mind. With the assistance of a currency broker, you can navigate the currency exchange process with ease and confidence, allowing you to focus on finding your dream home in France.

You should be vigilant when selecting financial services firms.

If you’re using a UK firm we recommend that you check they are authorised by the
FCA (Financial Conduct Authority)
Additional checks are also recommended.

Complete the form below to be contacted by a handful of selected foreign exchange brokers:

Natural or technological risks in France

Georisques is a term used in France to describe natural or technological risks that can occur in certain regions or areas. These risks can include earthquakes, landslides, floods, forest fires, volcanic eruptions, and industrial accidents. The French government has developed a comprehensive system to assess, manage and mitigate these risks, which is called the Georisques system.

The Georisques system is based on a national database that identifies areas of risk across the country. The database is regularly updated to ensure that it reflects the latest scientific research and understanding of the risks. The system is managed by the Ministry of the Environment and Sustainable Development, in collaboration with other government agencies and local authorities.

The Georisques system provides information on the level of risk in a particular area, and the measures that should be taken to mitigate the risk. This information is made available to the public through various channels, including the internet, mobile applications, and public information campaigns.

One of the key features of the Georisques system is its focus on prevention and preparedness. The system encourages individuals and communities to take steps to reduce their risk exposure, such as by taking out insurance, preparing emergency kits, and developing evacuation plans.

The Georisques system has been instrumental in reducing the impact of natural and technological risks in France. It has helped to improve the safety of individuals and communities, and has contributed to the country’s overall resilience to disasters.

In conclusion, the Georisques system in France is a comprehensive and innovative approach to managing natural and technological risks. It provides valuable information to individuals and communities, and encourages them to take proactive steps to reduce their risk exposure. The Georisques system is a testament to France’s commitment to safety and sustainability, and serves as a model for other countries around the world.

‘Diagnostics’ or obligatory inspection reports.

The obligatory inspection reports, paid for by the vendors, will be annexed to the contract.

Not all the reports mentioned below will apply to the property you purchase. It depends on the age, type and location of the property.

Energy Efficiency (diagnostic de performance énergétique, or DPE)

This report was introduced a few years ago and was intended to highlight differences in heating costs between properties. The DPE results have to appear on all advertising. The report is valid for 10 years (unless it was issued before 30th June 2021).

A DPE must be carried out in all dwellings, unless the accommodation is intended to be occupied less than 4 months per year. It is not required for properties where the only form of heating is open fires, or where there is none at all.

From April 2023, where the property to be sold is classed F or G, the vendor will need to have an energy audit undertaken in order to inform the buyer of the nature of the works required to improve the score. It will apply to class E from January 2025 and D from January 2034.

Furthermore from 1 January 2025, G-rated properties will no longer be allowed to be rented out. From 1 January 2028, F-rated properties will no longer be allowed to be rented out. From 1 January 2034, E-rated properties will no longer be allowed to be rented out.

Electricity

The electrical safety report is not obligatory for properties built, newly-wired or completely re-wired within the last 15 years. The report is valid for 3 years.

Gas

The report is necessary when fixed gas pipes have been installed in a property for at least 15 years. The report is valid for 3 years.

Asbestos

An asbestos report is not required for properties built after July 1997.

If asbestos is present, the report outlines the condition of the material concerned, and indicates whether any action is required.

The report is valid indefinitely where no asbestos is present, or for 3 years if asbestos is present..

Lead

A lead report is not required for houses built after 1st January 1949.

Where traces are found, this is often in undercoats of paint but still detectable by the machine used by the inspector.

The report is valid indefinitely where no lead is present, or for 1 year if lead is present..

Termites

A termite report is not required for properties outside of designated risk zones.

The report must be less than 6 months old at the time of final completion.

Risks

Some areas of the country are subject to specific risks such as earthquake, flooding, land-slip, radon, industrial accidents, accidents due to mining, etc. The purpose of the report is to inform buyers of the level of risk, if any, in the commune concerned. The risk report concerns the whole of the commune, not specifically the property itself.

There is also a requirement for the vendors to declare whether or not they have made, or have knowledge of, any insurance claims following damage to the property due to certain recognised ‘catastrophic’ events in the past..

The report must be less than 6 months old at the time of final completion.

Loi carrez

A precise measurement of surface area must be supplied for properties within a copropriété (usually an apartment or part of a gite complex)

It remains permanently valid unless work has been carried out which changes the surface area.

Drainage

Any essential remedial work highlighted by the report is obligatory and the buyer will usually have one year after purchase to carry it out.

The report must be less than three years old at the time of completion of your purchase.

In some areas, properties connected to mains drainage are exempt from this legislation.

role of a notaire

The role of a Notaire – a public official

A Notaire is a public officer who operates in every area of law including family, property, inheritance, asset management, company law, countryside law, local authorities, etc.They act on behalf of the State and are appointed by the Minister of Justice, and the fact that a contract is drawn up by a Notaire is a guarantee of its legality and authenticity.

The Notaire – a self-employed professional

Although they have public authority, the Notaire operates on a self-employed basis and is responsible for their own office. They are self-employed professionals who are paid by their clients (and not the taxpayers) on the basis of a rate fixed by the State for the services they provide. The term "notaire fees" when associated with property sales usually includes not only the Notaire’s own remuneration and expenses, but also the sales tax and stamp duty that they collect on behalf of the state.

French Property sales – the Notaire’s involvement

One or more Notaires will be appointed to oversee every property sale in France. A Notaire will work in close collaboration with your estate agent throughout the property sales procedure. They will ensure that all legal requirements are met, and that all parties are aware of their rights and obligations. They carry out various searches, establish title, advise the parties on inheritance and financial issues, draw up the deeds, and register the sale at the land registry. Each party can, freely choose their own Notaire, and it is the buyer who is responsible for paying all the notaire fees and stamp duty on a purchase. Notaires sharing the workload share the fees, which are determined by the State on a sliding scale according to the purchase price. Thus it does not cost any more to use two Notaires.

Final completion – signature at the Notaire’s office

Final completion is a formal affair, where the Notaire receives the parties in their office and reads out to them the terms of the official deed of sale and all its annexes, before witnessing everyone’s signatures. After completion, the Notaire will register the sale, give all parties a written certificate of the transaction, and will in due course (after a few months) supply the buyer with a stamped authenticated copy of the final sales deed, which is in effect the ‘title deed’ for the property.

If the parties cannot be present at the Notaire’s office for the signing of the sales pre-contract or final deed, it can usually be possible to sign by power of attorney. If you choose this option, your Notaire will prepare the power of attorney and send it to you to sign, but be aware that a person of authority in your home country such as a solicitor or French consul may be required to witness your signature, and as proof of your identity the witness must counter-sign and stamp the document.

More information can be found on the official Notaires’ website: click here.

How to get the best Euro rate for you

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The French property buying process includes a contract called the Compromis de Vente where ther term of the sale are laid as well as the price – which will be in euros. So if you are living in the UK you will need to convert pounds to euros so you can complete the purchase of your property in France. The same applies if you wish to change dollars to euros or other worlwide currencies.

A Currency broker can offer favourable rates on these exchanges and could save you a small sum which go towards a new kitchen, bathroom or swimming pool!

Price change

House

€370,000

Léran, Ariège

Character propertyOld stoneOutbuildingsPool

5 3 190m² 1126m²

Ref: 705800

5 reasons why you should use a currency broker