French Mortgages for UK non-residents
Foreign buyers are returning to the French housing market in droves. According to the latest statistics issued by the association of French notaries house sales in France by non-residents have jumped to pre-crisis 2008 levels and now represent 5% of the total French housing market.
Over 70% of foreign purchases in France are by UK buyers, followed by the Italians, Dutch and Belgians. Figures for Russian purchasers are not available but are estimated to be considerable.
Of those non-residents purchasing in France, 70% are for second homes, with 17% intended as primary residences. Low French interest rates and the strengthening sterling are the 2 major factors in driving these sales through.
There are some great deals to be had within the French property market and the South of France is leading the way. Local estate agents are saying the number of solid enquiries over the last few months have increased. 2011 is still proving to be a buyers market and when couple with some great French Mortgage Interest rates and the strong sterling – now is the time to grab your dream holiday home in the South of France
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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR ANY OTHER DEBT SECURED ON IT. CHANGES IN THE EXCHANGE RATE MAY INCREASE THE STERLING EQUIVALENT OF YOUR DEBT.
