Mortgages for France to invest into French property bargains
Now is a great time to find bargain French properties to invest mortgages for France into. Although the more restrictive lending practices of mortgage companies prevented France’s mainstream housing market from experiencing the sharp downturn seen in the UK, prices paid by foreigners have soared in the last few years. This created a property-buying bubble which has now burst – giving English buyers rich pickings to invest their French mortgages into.
Mortgages for France for French holiday home bargains
France is still the foreign location of choice for an overseas mortgage especially around the Mediterranean, Paris and the Northern coast. The biggest price falls have been seen in holiday home areas with price drops of around 23%-30% in the Dordogne, an area with a large British expat community.
These high falls in house prices have more than outweighed the poor exchange rates and many buyers have benefited from taking advantage of the low rates for French mortgages. As the pound begins to rally against the euro, even greater discounts will be found on French properties.
Mortgages for France and the fall in French house prices
The French estate agents’ association or FNAIM, believe property values in Paris will fall 8% while commuter areas will fall 12%. Houses are expected to see the biggest falls – as much as 14% in the south-east and 9% across the rest of the country.
France is cheap and easy to reach from Britain. Ryanair fly to 18 French destinations and easyJet to 10, and ferry tickets can be bought for as little as £18 return. This makes a weekend abroad very feasible and inexpensive too.
Low rates on mortgages for France and cheap property prices
A two bedroom home in the Dordogne is selling for £76,000 on the French estate agents Leggett Immobillier’s website while a three-bedroom home in Haute Vienne is selling for £89,000.
An English buyer from Bournemouth snapped up a two-bedroom cottage in Dordogne for £82,000, reduced from the £110,000 it was on sale for three months before. They said of their bargain buy:
“That reduction has roughly compensated for the slide in the euro-sterling exchange rate and allows me enough to do some renovation work.”
Now is the time to give Conti a ring for mortgages for France
Now is the time for buying properties in France. The great bargains to be found help make up for the present poor exchange rate.
So if you fancy picking yourself up a bargain, give the people at Conti a call. Their friendly staff can help find you the best deal from the array of mortgages for France they have to offer. Give them a call today on 01273 77 28 11.
0800 970 0985