Lifetime mortgage returns to France but expats face a maze to secure one

A revived loan in the French property market that is causing confusion

If you own property in France and are over 60, a revived lifetime mortgage option could free up cash from your home without requiring monthly repayments. For owners of real estate France, the product may look appealing, but in practice many applicants, especially foreign nationals, are hitting obstacles when they try to apply.

The loan in question is the prêt viager hypothécaire (PVH), a secured product that is only repaid from the borrower’s estate after death. The BPCE banking group has restarted marketing it under the Crédit Foncier brand, yet readers and customers report inconsistent advice in branches, regional rollouts that remain opaque, and a spate of unsolicited third-party solicitations following simple online enquiries.

In our analysis this is a noteworthy development for the French real estate market, but the rollout is unfinished and the practical hurdles matter for anyone thinking about using property in France as a funding source in later life.

What is a prêt viager hypothécaire and who is eligible

A prêt viager hypothécaire is effectively a lifetime mortgage secured against a property. Key characteristics:

• Available only to people aged 60 and over.
• The loan is secured on property located in France. The borrower can remain in the property; repayment normally occurs from the estate after the borrower dies.
• The product is intended for homeowners who are asset-rich but cash-poor and who want to unlock capital without selling.

PVHs differ from standard mortgages in that there are usually no monthly repayments required; interest rolls up and the debt is repaid from the estate. That can preserve current income and cashflow, but it reduces the value of the estate for heirs.

This is not an unfamiliar concept in other markets, where it is sometimes called a reverse mortgage or lifetime equity release. In France the PVH was historically marketed by Crédit Foncier de France until that operation ceased in 2019, and now BPCE has reintroduced the product under the Crédit Foncier brand.

How BPCE is rolling out the product and what the bank says

The PVH is back on the market courtesy of the BPCE group, which includes Banque Populaire and Caisse d’Epargne. The group has flagged the product on the Crédit Foncier brand website and directs interested parties to BP or CE pages to request adviser contact.

BPCE has confirmed several points to the press:

• The loans were initially unavailable to “certain foreign clients”, including British citizens, but the product has since been opened up.
• Britons living in France are now eligible, provided they pay income tax in France and the property is in France. Evidence such as an avis d’imposition is required.
• The product is being deployed progressively across regional banks, with examples including CE Grand Est and BP Alsace Lorraine Champagne.
• An in-branch meeting is required as part of the application process.
• The BPCE group is organised regionally: approximately 14 regional banks for Banque Populaire and 15 for Caisse d’Epargne.

BPCE did not provide a full list of regions where the PVH is currently available, and it did not clarify whether applicants can submit via a bank in a different region to speed up access.

Why many expatriate applicants are being turned away or confused

We have collected multiple firsthand accounts that point to three main problems in practice: inconsistent knowledge among branch staff, regional availability that is uneven, and confusion over nationality and Brexit rules.

Examples reported by readers include:

• A long-term resident and French tax resident who was refused on the basis that the loan is not available to people originating outside the EU.
• Visitors to branches in Chamonix who said staff had no idea about the product and treated them dismissively.
• A Banque Populaire branch in Sarlat (Dordogne) told an applicant they were not eligible because they were Scottish and therefore “not EU”.
• A resident in Béziers (Hérault) said an email told them they needed to be a French national to be eligible.
• A Hérault resident received rapid French-language contact and later unsolicited emails from three separate third-party brokers offering high-fee alternatives.

Putting those cases to BPCE, the bank said that while Britons are now eligible if they pay French income tax, other specific criteria can affect acceptance or refusal, as with any loan.

What stands out is poor communication on the ground. Branch staff in different regions appear to have different levels of awareness about the reintroduced product, and regional rollouts are not published in a way that customers can easily check.

Practical implications for property owners and expats

If you are considering a PVH on real estate France, here is what this means for you as a buyer, investor, or long-term resident.

Who might consider a PVH:

• Homeowners aged 60+ who live in France and want to unlock equity while staying in the property.
• People who need cash for care costs, renovations, or to support family, and who accept that the loan will be repaid from their estate.

Key risks and costs to weigh:

• The estate receives less for heirs because interest accrues and the loan principal is repaid after death.
• If property values fall, there can be a negative equity effect, though many lenders include protections against heirs owing more than the property is worth. You should confirm this in writing.
• Third-party brokers that contact applicants can charge high fees and interest; BPCE denies it shares applicant data with brokers, so unsolicited offers after an enquiry should be treated with caution.
• Regional availability means you may need to travel to a particular branch or wait for the product to be offered locally.

Documents and proof you should have ready:

• Proof of age to show you meet the 60+ requirement.
• Avis d’imposition or other proof of paying income tax in France if you are a non-French national, particularly a British national post-Brexit.
• Title deeds and recent mortgage statements if the property already carries a charge.
• A recent professional valuation may be requested by the lender.

Steps we recommend before applying:

• Visit a branch in person and request a written confirmation of eligibility criteria rather than accepting verbal statements.
• Ask whether your regional bank currently offers PVH and whether you may apply through another regional bank if your local unit has not yet rolled out the product.
• Request full details of fees, interest accrual method, valuation process, and any caps on repayment from heirs.
• Seek independent legal advice on the inheritance consequences and tax advice on how PVH proceeds may be treated for estate tax or income tax purposes.

How to navigate regional roll-out and bank networks

BPCE’s structure is decentralised into regional banks, which helps local service but creates fragmentation for products that are reintroduced centrally. The group said PVH is being deployed progressively across its networks and cited CE Grand Est and BP Alsace Lorraine Champagne as examples where it is available.

That gives rise to two practical tactics:

• If local staff say the product is unavailable, escalate the request to a regional manager or ask to be referred to one of the named participating regional banks.
• Use the online contact forms on Banque Populaire and Caisse d’Epargne that direct to advisers, but do not treat an automated response as definitive. Confirm in writing and keep copies.

If you are applying as a British national, have an avis d’imposition ready. BPCE has told readers that tax residency in France is a clarifying criterion for eligibility. We advise bringing multiple proofs of residence and tax status to the in-branch interview.

Alternatives to a PVH: what else to consider

A PVH is not the only way to release equity. Alternatives include:

• A regular remortgage that requires monthly repayments; lenders may be age-restrictive for long-term fixed-rate offers.
• A sale and downsizing of the property to free capital, which removes the mortgage obligation entirely.
• Renting out part of the property or a long-term rental to generate income, though that changes living arrangements.
• Home equity lines of credit or secured loans with scheduled repayments; these are more familiar and widely available but affect cashflow.

Each option has trade-offs.