For an overseas mortgage, France is still proving to be the favourite
According to a Halifax survey of their clients, for finding an overseas mortgage, France is the most popular destination in the world for British people looking for properties abroad.
Sixteen per cent of British expatriates are currently living in France, followed by Spain at 10 per cent. Outside of Europe, the most popular destination to live was the USA at 8 per cent followed by Australia at 4 per cent.
For an overseas mortgage, France still proves favourite
The survey also found that 67 per cent of British expats living in France are retirees. Despite the recession and poor exchange rate, France continues to prove to be a popular destination with Brits no doubt thanks to the quick and easy transport links and warmer climate that can be enjoyed there.
Not surprisingly given these figures, the British still make up half of all foreign property investments in France which has no doubt helped France’s property market stabilise so quickly. Although France is much stricter in their mortgage lending practises than the UK, they have recently become more flexible with their lending practises meaning that the right buyer can get 100 per cent loan-to-value mortgages with 80 per cent deals not hard to come by.
Offering a 100% mortgage, France is the place for property investors
Trevor Leggett, of Leggett Immobilier, commented: “It really is a buyer’s market and while supply outstrips demand it will remain so. French banks are much more flexible with their lending now and are offering much more choice of products than before.”
The buy-to-let sector in France is attracting particular interest from property investors thanks to the greater return they can gain thanks to the recent French property price falls.
With Ryanair providing flights to even more destinations across France including Carcassonne, Limoges, Montpellier and Nantes, France is likely to remain as the most popular British expat destination.
Interested in an overseas mortgage? France has lots to offer
If you are interested in obtaining an overseas mortgage, France maybe the ideal location. Speak to one of the French mortgage experts at Conti today to find out the best mortgage deal for you. Call them now on 0800 970 0985.
0800 970 0985