What Credit Crunch? 100% Mortgages available in France
Sharon Hill, Director of French Mortgage Direct reports on the French mortgage market.
Whilst doom and gloom prevails in the UK as the number of lenders withdrawing their higher loan to value mortgages increases, things are definitely looking sunnier in France and not just because of the climate!
French mortgage lenders have always been known for responsible lending with their strict criteria and low loan to values, but recently things have taken a turn for the better with some lenders offering increasingly attractive conditions.
“It is now common for non-resident purchasers to obtain a 90% fixed rate mortgage in France which has helped a lot of purchasers realise their dream of owning a property in France despite the weaker Pound” comments HILL.
For those purchasing a home in the Lot (dept 46), Tarn (dept 81), Tarn et Garonne (dept 82) or the Aveyron (dept 12), French Mortgage Direct are able to source a 100% mortgage with rates as low as 4.75% fixed for 10 years.
“This is a dramatic breakthrough in the French market as 100% mortgages are available but only on a case by case basis, yet this offer is available to everybody purchasing in these areas providing they meet the lenders criteria”.
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. Whilst property sales may have slowed in some areas the market has solid foundations, underpinned by responsible lending, which contrary to the US and the UK helps in maintaining house prices stable.
For further information please contact French Mortgage Direct on 0800 970 9304 or visit www.frenchmortgagedirect.com
Notes to Editors:
Established in 2005, French Mortgage Direct is an independent mortgage broker specialised in assisting non-resident and expatriates arrange property finance in France.
Working with over 20 different lenders in France, French Mortgage Direct offers a free service and provides personalised mortgage quotes within 1 working day.
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- Sharon Hill
- French Mortgage Direct
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