Buying property in France
France gives buyers something most markets do not — a statutory cooling-off period after signing — and then a long, notaire-controlled run to completion. Both facts shape when it makes sense to fix a rate.
- Typical timeline
- Commonly around three months from compromis to acte de vente, and often longer — the notaire's searches set the pace.
- You pay in
- euros (EUR) · live GBP/EUR rate
Where the currency risk actually sits
The French timeline is one of the longest in Europe, and a long timeline is simply more exposure. Three months is ample time for a currency pair to move several percent, which on a completion balance is a five-figure swing in sterling terms on nothing but the calendar.
The binding contract
The compromis de vente binds both parties, but the buyer gets a statutory cooling-off window afterwards in which they can withdraw without penalty. After that, the commitment is firm and the euro price is settled.
When the money actually moves
A purchase in France is a sequence of payments on dates set by the process, not by you. Each one is a separate conversion.
| Stage | Typically | What it means for your rate |
|---|---|---|
| Compromis de vente | Typically around 10%, held by the notaire | Paid into the notaire's escrow rather than to the seller. Convert only once the cooling-off period has run, since withdrawing inside it is free but an already-converted sum is not. |
| Mortgage condition, if applicable | No payment | No conversion, but the clause suspensive attaching to a French mortgage can extend the timeline — and a longer timeline is a longer exposure. |
| Acte de vente | The balance, plus notaire's fees | Cleared euros must be with the notaire before signing. The notaire's fees are meaningful and also in euros, so include them in the amount you convert rather than discovering the shortfall late. |
What catches UK buyers out in France
Notaire's fees on a French purchase are substantial and are quoted separately from the price — convert for the total, not the headline.
The cooling-off period is the buyer's, not the seller's: there is no reason to convert a deposit before it has expired.
French banks and notaires expect funds from an account in the buyer's own name; third-party transfers are a common cause of a delayed completion.
This guide covers the currency side of a purchase in France. Property law, tax and residency rules change and vary by region — take local legal and tax advice before you commit to anything.
Buying in France — common questions
Should I convert my deposit before or after the cooling-off period?+
After. Inside the cooling-off window you can withdraw without penalty, and converting early turns a free option into a position you would have to unwind. Once the window closes the commitment is firm and fixing the rate makes sense.
How long is the currency risk on a French purchase?+
Usually around three months from compromis to acte, and frequently longer where a mortgage condition applies. That is long enough for a multi-percent move, which is why the fix-or-float decision matters more in France than in faster markets.
Do I pay the notaire in euros?+
Yes — the balance and the notaire's fees must be cleared in euros before the acte can be signed. The practical requirement is that the money arrives on time as much as at a good rate, since a missed appointment moves the whole completion.
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