French mortgages news – New confidence in mortgages for France
The economy in France is beginning to show small signs of a recovery bringing new hope and confidence for those looking at mortgages for France. Although the progress is only slight, there are several indications that the economic downturn is slowing down and shrinking at a slower rate than before which is great news for those considering an overseas mortgage.
France’s central bank forecasted an economic contraction of 0.6% between April and June rather than the 0.8% previously predicted. The central bank also announced that the drop in industrial production in April was less severe than in previous months with production dropping at a slower rate particularly on intermediate goods such as iron and steel.
Mortgages for France set for increase
Although the income of new orders in France and abroad was still below targeted levels, the level declined at a slower rate than in the preceding month which is another sign suggesting the economic downturn is slowing.
The Organisation for Economic Co-operation and Development (OECD) is also suggesting that the French economy is beginning to improve. Trade figures, order books, employment data and production levels, all markers of how an economy is doing, show sign of improvement in France as well as in Italy and the UK.
European Central Bank head Claude Trichet also gave reason to be optimistic as he announced that the French economy is “around the inflection point in the cycle”. With the UK economy also beginning to show some signs of improvement, the French property market should begin to pick up and stabilise allowing overseas buyers to have more confidence in getting a French mortgage.
Choose Conti when looking at mortgages for France
If you are looking at buying property in France, we at Conti are the people to speak to with our expertise in obtaining mortgages overseas and experience of the necessary procedures in gaining a French mortgage. We help make finding mortgages for France a simple and pain-free experience to ensure buying that dream home abroad becomes a reality.
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