A mortgage in France as popular as ever after news that France is out of recession
Buyers looking for a mortgage in France will be reassured by the news that France is no longer in recession. After 12 months of economic downturn, the country has announced that they came out of recession in the second quarter after the economy grew by 0.3% between April and June.
Although France was not as badly hit by the recession as England has been, the country’s economy was not expected to recover this quickly. Economy minister Christine Lagarde described the figures as “very surprising” as a Reuters poll had predicted a 0.3% decline in gross domestic product (GDP).
Encouraging news for buyers looking for a mortgage in France
Such news should be encouraging to British expats looking to invest in a French property as they can be confident that as the economy continues to grow, so should the value of their house in France. Therefore when buyers come to sell their property, they should see a good return on the price they originally paid for it.
France’s quick recovery from the recession is believed to be due to the more restrictive mortgage lending practice compared with more generous mortgage lenders such as the UK.
Micheal Axelrod, Commercial Director for Conti overseas mortgage experts, commented, “French banks are immensely careful about whom they lend to. To limit risks, most of them spread their investments much more widely than those in the US or UK.”
A mortgage in France as confidence is restored in the property market
As the French economy continues to improve, property prices are expected to increase as the market stabilises and confidence is restored in property investments.
Find a mortgage in France with Conti overseas mortgage experts
For more information and advice on how you can obtain a mortgage in France, give Conti a call today on 0800 970 0985 or request a call back and we will ring at a time convenient with you.
0800 970 0985