Simple French Mortgage Advice
character ownership in France has been a firm favourite with the British for many years. pushed by strong growth rates and good investment yields for the second home owner and investors alike non-resident ownership in France has being growing especially during the past 10 years. Traditional ferry routes improved by cross channel road and rail links, extensive road networks and the ever expanding budget airline flights into an increased number of French airports has made travelling across the channel more easy to reach and already cheaper.
This closeness to the UK has made French character one of the most popular choices for Investment character Buyers. The French character market is extremely different and offers much to the possible Investor in Overseas character. The South of France is a chief example and the airports of Nice and Marseille offer tremendous access to the French Riviera all year round and are serviced by the budget airlines such as Easyjet and Ryanair.
The good news for buyers of Investment character in France is that there is an abundance of character all over the South of France; a restored Mas, stylish new builds, a pieds-a terre, family villas or already winter sports apartments. Capital appreciation is good and rental yields are strong. The Cote d’Azur is second only to Paris in price, but you don’t need a fortune to buy. A good rental provide from an investment character can be achieved with the many tourists and the large quantity of conferences throughout the year especially in Cannes, making the South of France an excellent choice for your Overseas character Investment.
Unlike the UK, a long history of prudent lending in France (lenders do not allow borrower’s total outgoings on finance payments to go beyond 1/3 of their total gross monthly income) has meant mortgage finance in France is nevertheless freely obtainable and great value. Coupled with an approximate discount of 10% on French character prices compared to a year ago – there is no better time than 2010 to acquire an Investment character in the South of France.
For second home owners in the South of France and character investors, 2010 is the perfect opportunity to buy into some of the most desirable towns and cities such as Cannes, Nice and Antibes in the South of France. The French edges have not suffered like their UK counterparts, meaning they are more inclined to lend to the Foreign or Non-Resident character Investor who might not have considered France before. Coupled with some extremely attractive loan rates (2.7% interest only for non-residents plus, the ability to pay down at any time with NO PENALTIES) France is fast becoming an perceptive investment for Non-Resident and Foreign character Investors.
important mortgage product innovation by some leading edges such as Micos Banca and BNP coupled with a different range of character obtainable in the South of France that can deliver good substantial yields and investment growth is driving the UK character investor to look across the channel. similarities in the South of France keep in the buyers favour, and 2010 could give the Foreign character Investor a firm foothold within the French character market.
It is important to deal with an Independent Mortgage Broker registered in France with a Siret number. The business should also keep up a Carte Demarchage Bancaire/Financier; this method they are professionally registered with the Bank of France to carry out and advice on Mortgages in France. The advisor should also carry ORIAS membership; Enrolment in this register is compulsory for an individual resident in France, or a company having its head office in France, in order to be able to practise insurance or reinsurance intermediary activity. specialized Indemity Insurance is crucial and a business must keep up this to be registered with ORIAS.