I will soon receive a sum of money which will allow me to pay all cash for a house.
However, I'd rather pay for the house over a long period of time. I would like to put the unspent money to work in the stock market & similar.
I had planned to go with a mortgage. My reasoning was that the money I'd be making from investing the unspent capital would be greater than the interest I'd be paying (around 1% in my area). However, a financial adviser just recently told me it would be hard to get a mortgage with my current work situation (fixed-term contract). In addition, I have low income with a fixed-term contract and in France financing is based on your capacity to borrow in terms of income. While collateral, assets and lien on other property can help, they can't be the basic for a loan.This link covers the basics of borrowing in France. So borrowing from a French bank is an unlikely possibility for me.
Is there a way to finance the purchase of a house over a long period of time, without going through a mortgage and being able to use the unspent money?