French mortgage lenders still keen on non-resident mortgages

Sharon Hill, Director of French Mortgage Direct reports on the French mortgage market: Interest rates in Europe have been falling over the last few months and despite the weak pound, now is a good time to be looking at a French mortgage as French lenders are keen to compete.

Purchasers can now borrow 100% of the property price with a capital repayment mortgage on properties throughout France, which comes as excellent news, as it limits the cash output a purchaser needs to make to just the notary fees and agency fees.

100% mortgages have been available previously, but were usually limited to specific regions. “This is fantastic news. We’ve had a number of customers who’ve had to give up their dream due to the weak pound; their savings wouldn’t go far enough for their deposit. A 100% mortgage will go a long way to help enable the purchase of a French property and could help dreams come true” comments HILL.

The mortgage is available either as a fixed rate or a cap and collar rate with rates starting at 5.3% fixed for 15 years. It will cover 100% of the property price excluding agent & notary fees and is available for mortgages of over 300 000 Euros.

French Mortgage Direct believes that the French mortgage market will continue to evolve in the future due to the stability of the French property market as it is underpinned by responsible lending, which in contrary to the US and the UK helps in maintaining stable house prices.

For further information, visit frenchmortgagedirect.com