The worst day of the year is behind us...

It is widely accepted that the last Monday in January is when most of us feel at an all time low for the year as memories of Christmas fade, the gloom gets to us (if we are in the northern hemisphere) and anxiety and depression can set in for all sorts of reasons not least the fact that New Years’ resolutions have already been broken. However, from our perspective, here at Athena Mortgages, all in fact seems to be brightening up and we are looking forward to another excellent year.

The general feeling from many of our partners seems to be positive with many having closed many sales of French property over the festive period and continued the habit into the New Year. Across the board there seems to be a feeling of cautious optimism for the coming year with many plans now starting to bear fruit. The new organization of Athena Mortgages is now almost complete, after careful analysis we are now confident that our new processes will allow us to offer even better customer service by improving our response times in all areas of the French mortgage process in spite of the rising number of enquiries.

There is no bad news from the French mortgage market to report, rates are still on hold and seem likely to stay that way. Average property prices in France recorded a small drop in December which will keep vendors on their toes maintaining the good buying conditions across France. As always you can find the most up to date rates for mortgages in France on our website. Our new look website boasts a French mortgage calculator and interactive best buys table for second home, leaseback, buy to let, equity release and refinancing mortgages in France.

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Poll predicts no rise in ECB rates until Q4

The view that interest rates for mortgages in France will remain low for the next year at least, continues to be borne out as a recent poll by Reuters of 80 economists has predicted that there will be no increase in the European Central Bank interest rates until the fourth quarter of 2010. With this news, the outlook for rates for financing in France remains good with rates generally predicted to only rise to 2% in 2011. As we step out of the shadows of 2009 and into the uncertain light of 2010, there is a great opportunity for those with the confidence to search out and negotiate price reductions for the bargain property currently available in France. So if you have been planning to buy a property in France or you are looking for a good long term investment, The borrowing conditions have not been this good for a generation.

Our view of the market shows us many types of property in France selling well, with a particular seasonal interest in Alpine locations and good investment deals with little money down and more or less cash flow positive under the French leaseback scheme. We have continued to receive a steady flow of interested clients looking for the best rates for acquisition and equity release mortgages alike over the festive period and into the New Year. So far, only one of the French banks has show its hand with regard to their rates for January and this so far has been for a small raise. Overall, the market for French property is starting to get going as some confidence returns; the France Show at Earls Court, London, this weekend should provide a good indication of just how confident the largest population of non-resident buyers of French property, the English, are becoming.

For a view of the current French mortgage rates available, please visit our recently re-launched website which focuses exclusively on mortgages in France.

Happy New Year from all the team at Athena Mortgages

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