French property market favours UK buyers

The mortgage rate in France is the most favourable of any other European country for British buyers, according to a leading overseas mortgage specialist.

Director at Conti, Clare Nessling, explained that as a result of the declining value of property in many nations and the predominantly low interest rate environment in Europe, purchasing real estate in France and elsewhere overseas has become “much more affordable”.

She continued to state that the mortgage market in France has charged better than the majority of its counterparts in Europe.

The reason the French mortgage market is so favourable is said to be because France has traditionally taken a more cautious approach to lending.

Nessling said: "It currently offers the widest range of finance options and best-available rates in Europe for UK buyers. It is in a relatively secure situation and loan-to-value ratios are still high."

The popularity of France as a retirement destination may be because of the country’s attractive mortgage terms.

Danny Silver, managing director of The Villages Group pointed out the 34 percent of people nearing retirement age would consider moving abroad to benefit from a lower cost of living, according to a survey by the National Association of Pension Funds.

Silver suggested France is an ideal country to choose for relocating abroad because its food, culture and proximity to the UK make it likely to appeal to British property buyers.

Transfer Money to France

If you are thinking about investing in French property, it is definitely a good idea to consider the logistics of transferring money abroad. The various financial options open to potential buyers of French property will need to be carefully considered as there will be a range of rates for UK buyers to review.

So if you are looking to send money to France (which is inevitable if you are looking to make a property investment) be sure to compare the market before you finalise your choice of French mortgage.

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