French cuisine to entice interest in French mortgages
If you needed any encouragement to invest in French mortgages, the French government’s decision to lower VAT on eateries across the country from 19.6% to 5.5% will certainly help persuade you.
The enticing cut in restaurant prices is hoped to lure English tourists and residents in France out of their homes and into the local eateries to enjoy the culinary delights that French cuisine has to offer.
The tax cut which came into effect on the 1st of July (2009) should reduce the average l’addition by about 10%. This means that the average meal costing 15 euros (£13) will now only cost 13.20 euros (£11.40) which will help offset the weakness of the pound against the euro. It is just one move made by the French government to help encourage more Brits looking at buying property abroad back to France.
VAT cut to spark interest in French mortgages
A manager of a two Michelin star restaurant in Courcheval in France’s Three Valleys commented, “It is important for us to support British [customers], particularly in the current climate. From December we will be passing on the VAT reductions to all of our customers. Although some products are exempt form the cut, such as alcohol, the majority of our most popular dishes will be reduced for our customer.”
Although not all restaurants will be passing on the full VAT cut to the customer, the savings they make on the tax reduction can be reinvested back into the business to help improve the menus, the surroundings and the salaries of the staff. This will ensure the dining experience will be of a high standard and restaurant-goers will be encouraged to dine out more often.
Invest in French mortgages to sample the different flavours of France
The range of eateries in France is quite different from the mass of chain restaurants and fast food diners we have in the UK. Although fast food can still be found in France, they are not as common as they are in the UK as smaller family-run restaurants are more of the norm.
For the most economical meal out the set menus, which often include a bottle of wine, provide an economical and tasty alternative to priced menus. Four main styles of cooking can be found in restaurants across France.
French mortgages for Fabulous French food
First is the classical French cuisine or cuisine bourgeoise which is rich and filling with many dishes using cream-based sauces.
Second is the haute cuisine which is classical French cuisine taken to the most sophisticated level. Presentation is key to the dish and only the finest ingredients are used to make tiny portions of each different dish which consequently makes it the most expensive style of French cooking.
Third is the Cuisine Nouvelle which developed in the 1970s as a reaction against more classical cooking. Cooking is less elaborate and quicker and doesn’t contain the heavy sauces of the more traditional dishes. The emphasis is placed on local and seasonal ingredients and the food is simpler and lighter.
Lastly is the Cuisine du terroir which focuses on regional specialities and is more rustic and less attention is given to the presentation.
The tax reduction offers you the perfect opportunity to sample all of these different styles of French cuisine and is just one great incentive for people looking at buying property abroad that may have been put off France due to the weak pound.
Conti will find French mortgages to suit you
To help you get a step closer to regular meals out in the best restaurants France has to offer, give the people at Conti a ring. Their expertise and specialist knowledge in overseas mortgages will help you find French mortgages to suit you. Give one of our helpful advisors a call today on 01273 772811.
0800 970 0985