Reducing the cost of relocation when taking out mortgages in France
UK residents planning to become expatriates by taking out mortgages in France and moving to the popular EU republic can consider ways to reduce the cost of relocating.
A looming tax cut is set to provide a boost next year – the French government is scrapping a three per cent annual levy that private investors had to pay on a property’s open market value.
Investment professionals say this will help grow French property prices while adding to downward pressure on UK residential values.
Overseas wealth experts recommend that Britons consider switching to interest only deals, or ask for a mortgage payment holiday so as to not face loan payments on properties in two countries.
Mortgages in France from Conti
A key piece of advice from Conti, the UK’s leading overseas mortgage specialists, is for would-be property buyers thinking about taking out a French mortgage to research potential purchases.
The old adage ‘buyer beware’ clearly applies for such a major investment. Buyers ought to carefully research the property and financial arrangements tied up with the property.
Broadly, people looking to buy should get to know the lay of the land, to become familiar with the local community and the area of France they are interested to move to.
Another way to cut expenses is to sign up for free services such as internet telephone calls to keep down the cost of outgoings for keeping in touch back home.
Tax advice sought from expat financial advisers could also help purchasers looking for French mortgages consider how best to structure their financial affairs.
For expert guidance about mortgages in France, give the people at Conti a call today.
0800 970 0985