Most non-resident buyers focus on the mortgage rate — and that is understandable. But the rate is rarely the number that determines whether a purchase is feasible. The figure that catches buyers off guard is how much cash they need available on the day of signature. Get this calculation wrong and a deal that looked affordable on paper can unravel at the notaire's desk.
This guide breaks down the full cash requirement for non-resident buyers in 2026: deposit, notaire fees, bank reserves and ancillary costs — with worked examples across different price points and purchase types.
What LTV Do French Banks Offer Non-Residents?
Loan-to-value (LTV) is the percentage of the purchase price a bank will lend. French lenders classify non-residents as a higher-risk lending category, and their LTV offers reflect this. EU and EEA nationals typically achieve 75–80% LTV; buyers from outside the EU should plan on 60–75%. These are practical outcomes, not theoretical maxima — the actual figure depends on income level, employment type, nationality and the overall strength of the application file.
At 75% LTV, you are depositing 25% of the purchase price from your own funds. On a €400,000 new-build apartment, that is €100,000 — before fees. At 70% LTV, the same property requires €120,000 as apport. Some lenders apply a minimum loan threshold of €150,000 for EU nationals and €250,000 for non-EU buyers, which constrains the LTV arithmetic on lower-priced units.
French banks require documentary evidence that the apport comes from demonstrably owned funds — typically three to six months of bank statements. Gifted deposits require a separate written declaration. Borrowed deposits are not accepted as apport under any French lending framework.
The Notaire Fee Factor: New-Build vs Resale
The single largest variable in a French Alps purchase budget — and the one most consistently underestimated — is the notaire fees. These are non-negotiable, due in full at completion and cannot be rolled into the mortgage.
On a resale property, notaire fees typically run 7–8% of the purchase price. The exact figure depends on the department. The loi de finances 2025 authorised departments to raise the droits de mutation à titre onéreux (DMTO) by 0.5 points, up to a ceiling of 5%. According to Service-Public.fr, 88 French departments have adopted the higher rate, bringing the total DMTO component to 6.32% in most of metropolitan France. Savoie and Haute-Savoie — the departments covering the vast majority of French Alps ski resorts — are among those applying the increased rate.
On a new-build or VEFA purchase, the position is materially better. Because VAT is embedded in the developer's headline price and the standard DMTO does not apply, notaire fees on new-build properties run at 2–3% of the purchase price. On a €400,000 apartment, that means roughly €8,000–€12,000 in notaire fees, compared with €28,000–€32,000 on a comparable resale. A difference of approximately €20,000 in upfront cash — in favour of new-build.
This cost differential is one of the most straightforward financial arguments for prioritising new-build ski properties in the French Alps, and it is routinely underweighted in buyer comparisons with resale.
Worked Examples: Total Cash Required
The following figures assume a 75% LTV mortgage for an EU-national buyer and current notaire fee estimates for Savoie and Haute-Savoie. Bank reserve requirements are addressed separately below.
Example 1: €350,000 New-Build Apartment (VEFA)
- Deposit at 25%: €87,500
- Notaire fees at ~2.5%: €8,750
- Mortgage: €262,500
- Total cash required: ~€96,250
Example 2: €350,000 Resale Apartment
- Deposit at 25%: €87,500
- Notaire fees at ~7.5%: €26,250
- Mortgage: €262,500
- Total cash required: ~€113,750
Example 3: €600,000 New-Build Chalet (Non-EU Buyer, 70% LTV)
- Deposit at 30%: €180,000
- Notaire fees at ~2.5%: €15,000
- Mortgage: €420,000
- Total cash required: ~€195,000
These figures exclude mortgage arrangement fees (frais de dossier), the first year's assurance emprunteur premium — see the full guide to French mortgage insurance — and any copropriété sinking fund contribution due at completion. In practice, budget a further €2,000–€5,000 for these ancillary items.
Bank Reserves: The Requirement Many Buyers Miss
Several French lenders active in non-resident ski property lending require borrowers to hold a cash reserve in a French account after completion. This reserve typically ranges from three to twelve months of mortgage payments and must be evidenced before the mortgage offer is issued — not after.
On a €262,500 loan at 3.47% over 20 years, the monthly repayment is approximately €1,520. A six-month reserve requirement means having an additional €9,100 available and demonstrably held. This sum remains yours — but it must be liquid and verifiable, and it adds to the total cash you need positioned correctly before exchanging contracts.
How Non-Resident Income Is Assessed
French banks apply the HCSF 35% debt-to-income ceiling to all borrowers — total monthly debt obligations must not exceed 35% of gross monthly income. For a full breakdown of how this calculation works and what it means for borrowing capacity, see the HCSF 35% rule guide.
For buyers earning in a currency other than euros, there is an additional variable. Most French banks apply a haircut of 10–20% to foreign-currency income to account for exchange rate risk. A buyer earning £120,000 per year may have their income treated as the sterling equivalent of £96,000–£108,000 for affordability purposes. This haircut directly reduces the maximum borrowing available — and may require a larger deposit to close the gap between the achievable loan and the purchase price.
This is not negotiable with the lender. It is a structural feature of how French banks price non-resident currency exposure, and the practical response is either a larger apport or additional documented income sources.
Mortgage Rates in June 2026
Fixed mortgage rates in France in June 2026 sit at 3.37% over 15 years, 3.47% over 20 years and 3.53% over 25 years for competitive resident borrower profiles, according to Pretto's June 2026 rate analysis published on 21 June. In Auvergne-Rhône-Alpes — the region covering the Savoie and Haute-Savoie alps — rates for strong profiles run 3.25–3.39% across durations.
Non-resident ski property borrowers should expect to pay 0.3–0.8 percentage points above the resident benchmark, depending on nationality, LTV and the specific lender. A 75% LTV EU-national file at a bank active in ski property lending is currently pricing around 3.6–4.0% fixed over 20 years. The BCE raised its key rate by 0.25 points on 11 June 2026 — the first rise in this cycle — which has introduced moderate upward pressure on bank grilles. Competition between lenders has, however, kept rates broadly stable for well-structured applications.
Credit production in France rose approximately 6% in Q1 2026 compared with Q1 2025, according to data from the Banque de France and the Fédération bancaire française cited by Pretto. The market remains below its 2022 peak, but the structural credit tightening of 2022–2024 is receding. Well-prepared non-resident files are finding lenders prepared to compete for the business.
Preparing Your Cash Position Before Making an Offer
French banks assess the origin, age and consistency of funds. A large transfer arriving in a current account in the weeks before a mortgage application will trigger source-of-funds questions, regardless of legitimacy. Funds need to be visible across at least three — ideally six — consecutive months of bank statements, with their origin clearly attributable: salary accumulation, a savings account, liquidated investments, or net proceeds from a prior property sale.
If you are selling another property to fund the deposit, the timeline between that completion and the French mortgage application needs active management. French lenders want to see the proceeds settled, not anticipated. Holding the sum in a named savings account with a consistent balance materially strengthens an application.
Currency timing is also a live variable. Buyers converting sterling or dollar deposits to euros for the apport can use forward contracts to lock in the exchange rate before completion — providing the lender with certainty on the deposit quantum and protecting against adverse currency moves. For a full treatment of currency risk and hedging options, see the currency risk guide for UK and international buyers.
The Full Cash Requirement: A Summary
Total cash required for a non-resident buying a French Alps ski property in 2026 is the sum of four components:
- Deposit (apport): 20–40% of the purchase price, depending on nationality and lender
- Notaire fees: 2–3% on new-build (VEFA); 7–8% on resale — higher following the 2025 DMTO increase in Savoie and Haute-Savoie
- Bank reserve: 3–12 months of mortgage payments held in a French account post-completion
- Ancillary costs: Mortgage arrangement fees, first year assurance emprunteur, copropriété sinking fund contribution — typically €2,000–€5,000
For a €400,000 new-build purchase at 75% LTV, the realistic total cash requirement is around €115,000–€130,000, including a six-month reserve. For a comparable resale at the same price, budget €135,000–€155,000. The gap between those two figures — driven almost entirely by the notaire fee differential — is roughly €20,000–€25,000 in favour of new-build.
Buyers who model this calculation accurately before making an offer are the ones who complete without surprises. The deposit is just one line in the budget — the full picture is what matters.
