18 July 2012 - French Mortgage News | Partners News | Uncategorized |
French Mortgage Update
Property buyers in France are currently benefiting from falling French mortgage rates, following the European Central Bank’s recent decision to cut its benchmark rate by 0.25%.
An announcement was made to reduce the index from 1.00% to 0.75% on Thursday 5th July. The ‘Euribor’ base rates, to which the majority of French mortgages are linked, have since dropped in line with this central rate cut.
International buyers in France can already benefit from the resulting reductions in the cost of new mortgages. One of the main providers of non-resident financing in France has already shaved 0.20% off the starting rates of its variable mortgage facilities, while other lenders have indicated they too will follow suit.
ECB President Mario Draghi has refused to rule out the possibility of further cuts later in the year, ensuring that the outlook is positive for those international buyers looking to secure an affordable French mortgage before the end of 2012.
The combination of falling French mortgage rates and a weakening Euro ensures that French property is becoming even more affordable for many international buyers.
To keep up to date with the latest rates you can visit our French mortgage best buy tables or use our French mortgage calculator to calculate your monthly repayments with these new lower rates.
Alternatively you can request a quote online, call to speak with one of the team by calling +44 (0)207 484 4600, (we’re open late Mon – Thurs until 19:00 and on Saturdays between 10:00 and 14:00 GMT) or you can visit us at our conveniently located central London offices (by appointment) to talk through your plans in person.
Found a property? Request a quote now or call +44 (0)207 484 4600