French Property Blog: Our Voice from France

British buyers pile in as French mortgage rates hit record lows

Leggett Immobilier report record sales, despite Brexit fears, with much of the demand being stimulated by the lowest mortgage rates ever seen in France.

Fixed rate French mortgages are now available from as little as 1.70 % with 80 % loan to value on a 20 year term. These rates are available to most non residents and more than offset the recent changes in exchange rate.

As an example : Based on the rates above, with a purchase price of €200,000 and a deposit of €50,000 the monthly repayment would be just €737.69.

thierry blog 3

Trevor Leggett, Chairman of Leggett immobilier, comments :

“With the pound bouncing up and down like a yo-yo, a huge number of our clients are now taking advantage of the ridiculously low borrowing rate. If you are looking for an investment then property in Paris, the Alps or Paca can easily provide a 3-4 % yield, with 7-8 % yield available in some provincial towns. Add in the ability to borrow at well under 2 % and we’re seeing an unprecedented opportunity – even clients looking for a holiday home are piling in. Prices hit rock bottom 12 months ago and are only going one way for the foreseeable future.

We sold 1200 properties last year and are on target to sell even more in 2016. The EU referendum vote had a marginal effect on the volume of demand from the UK but the requests we are receiving are more serious, it’s mainly the tyre kickers who have dropped off. In the last three months alone we’ve had 14,384 enquiries from the UK with more of our buyers switching from paying cash to taking out a mortgage.

Borrowing in France is pretty straightforward and our sales support team are happy to put clients in touch with major banks like BNP Paribas and Credit Agricole who have dedicated English speaking staff”.

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French housing market on the up…

Back on 24th June we would never have predicted what a busy summer and early autumn we have had.

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Our year to date sales are up by 21% and enquiries are continuing to be up as the appetite for both a home or a move to France has not been stifled by Brexit uncertainty. With the French housing market rising, it’s an ideal time to buy a home.

Latest figures released by notaires show that house prices in France are on the up – and this is probably down to the lowest interest rates for 100 years in France. Have you considered that the fall in borrowing costs over the past few months can largely mitigate the fall in sterling against the euro? Or that by taking a mortgage you can help minimise your exposure to exchange rates? It is clear from our buyer enquiries and attendance at the property shows that many Brits are still wanting to move to France and why not? Brexit will not change the climate, the culture, the cuisine and our love for our nearest neighbour. Not to mention all those wonderfully affordable homes…

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Autumn showstoppers!

The fabulous turnout at our two recent property shows is proof that France has lost none of its allure for British house hunters in France.

september show

At the French Property Exhibition at Olympia we were all knocked back by the commitment of visitors, many of whom were deadly serious about buying and had higher budgets than we expected. The weekend after, at A Place in the Sun Live at Birmingham’s NEC the story was the same – nearly 7,000 visitors to the show was only a little down on 2015, and our buying-advise seminars were as packed as ever.

If you missed both of these don’t despair, there’s a new Place in the Sun Live show at Glasgow on 29-30th October at the SECC. Note that it’s a two-day show – why not make a weekend of it? We will be there looking forward to meeting you face to face and providing essential information on a variety of topics related to buying in France.

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Leggett raises €15,000 for UNICEF

Leggett and Currencies Direct have gone that extra mile for charity and successfully completed an 800km cycle ride across the south of France.

STEN

Raising an impressive €15,283.40 for UNICEF, Team Leggett and Currencies Direct (accompanied by a few of our vendors too) as #STEN have been peddling hard between St Emilion and Nice. On 3rd October our CEO Graham Downie and his merry lycra-clad crew made the grand depart off (armed with a bottle of red from the Mayor of St Emilion) and after 140km were spotted having a pastis stop at a local cafe. This would stand them in good stead for the climb up through the hills into Provence where the going really did get tough. But finally, after five days, the team cycled jubilantly along the Cote D’Azur to finish at the Promenade des Anglais.

An exhausted but relieved Graham Downie, says: “Incredible. We hoped to raise €10,000 for UNICEF but have just given them a cheque for €15,000… Their representatives in Nice were delighted and it gave all the riders a real buzz to see how much was raised. We’d like to thank BNP Paribas and all of the hundreds of people who donated, as well as everyone who came out to the side of the road and cheered us on. That’s €28,000 that we’ve donated to children charities over the last couple of years which is a huge achievement. Well done to all and thanks to all those who came to support or contributed.”

 Until next year…

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Homes and horses

Were you as enthralled as us by the dressage competition at the Rio Olympics? Eventing is great fun, and to celebrate the Etoiles de Pau horse trials this weekend we have raised the bar to bring you three stunning homes.

This pretty six-bedroom eighteenth-century farmhouse in Narcastet near Pau comes with stables and 1.7 acres of gorgeous rolling countryside – perfect for keeping horses.

Pau 1 - 68418SBP64

http://www.frenchestateagents.com/french-property-for-sale/view/68418SBP64/house-for-sale-in-narcastet-pyrenees-atlantiques-aquitaine-France

Reduced in price recently, this is a fabulous five-bedroom home with great poolside entertaining space and mountain views, also close to Pau.

Pau 2 - 65970JDM64

http://www.frenchestateagents.com/french-property-for-sale/view/65970JDM64/house-for-sale-in-aubertin-pyrenees-atlantiques-aquitaine-France

The perfect home within reach of both beaches and mountains? This is a charming four-bed home with breath-taking views and a pool for a great price.

Pau 3 - 64403JC64

http://www.frenchestateagents.com/french-property-for-sale/view/64403JC64/house-for-sale-in-pau-pyrenees-atlantiques-aquitaine-France

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