Act now to capitalise on the low mortgages rates in France
Beautiful scenery, tempting lifestyle and the affordable property of France aside, the rates of mortgages on offer are a big factor behind the demand for French property.
But why get a mortgage? There are three compelling reasons to leverage rather than paying the full sales price upfront. The first – especially relevant for British buyers – is that current mortgage deals can mitigate the unfavourable exchange rate, by allowing you to lock into a 10-year fixed rate, for 2%, for example. You can also put down a minimal deposit to reduce the amount you are transferring over right now. But if the price of your home goes up by, for example 2 per cent in a year, you are recouping the loss on the rate. Of course, depending on early-repayment penalties, you could also pay off a lump (or all of it) when the exchange rate improves – whatever deal you choose to take.
Another reason is that French mortgages are still at historically low rates – at around 2.0 to 2.5 per cent, for example, so that the repayments are relatively easy to service (especially if your property generates some income to part-cover these).
The final reason is that buyers who have their financing in place are in a stronger position to negotiate a good price and agreeing to purchase a home promptly.
If you want more information on French mortgages, please, do not hesitate to visit our partner’s website just here: ICE Finance
Dear Leggett Immobilliere,
I am actively lookink for a French property investment and would like to consider your
proposal of a French mortgage as a potential option.
I have tried to connect onto the ICE Finance website, unfortunately without any success.
I was hoping therefore, if you could forward me any relevant information concerning
French mortgages for UK residents.
Yours sincerely,
Raymond Brown.
Please would you be kind enough to send on information re French Mortgages. We are thinking of buying a French property and are interested in taking advantage if the low mortgage interest rates.
Thank you
Kind regards
Mary