December 2012: Currency update

Investors' impatience with the lack of progress on a permanent solution to the Euroland debt crisis (if that's what it still is) has begun to take its toll. From its position at the beginning of October the euro has fallen by more than two US cents....

Thursday, 29 October 2009

Eurozone expected to exit recession on Nov 13

The EU statistics offices anticipated to announce that the 26 nations that make up the Eurozone will officially exit recession and return to growth. In fact economic confidence in the Eurozone one was at it highest levels for a year in last month due in to increases in factory orders and production.Inflation is trending down with no increases to the ECB benchmark rate anticipated until 2010 when a .25% rise is priced into the markets currently. Of course things can change and new information becomes available all the time. As in the UK, Eurozone home loan lending is up with these mortgage approvals boosting confidence in construction on both sides of the channel.There is still uncertainly in the market which is good news for those looking to negotiate discounts for French properties or borrow...

Tuesday, 27 October 2009

French home loans: Finance for US buyers of French property

Every American has a second home in France - Thomas JeffersonThe historical links between America and France are well known, from the Statue of Liberty to the connections of WWII. The fascination of Americans with France is understandable drawing many visitors and prospective homeowners each year. The numbers of American buyers in France has been increasing in recent years but with the current economic conditions and the difference in the exchange rate, enquiries from the U.S. have dropped significantly over the last 18 months. Now that lending conditions in France are better than most developed countries a French home loan is often the best bet for buyers from the United States of America as a way to finance a property in France. Given the strength of the Euro it definitely makes sense to...

Monday, 26 October 2009

Fastest French Mortgages-How quickly can you get a mortgage in France?

The key to getting a mortgage quickly in France is to build up the required documents to support you French mortgage application. One of the longest delays in processing a mortgage application in France is getting a complete dossier to the bank. An experienced French mortgage broker can help you to organize the information and documents into a format that is acceptable to the majority of French banks.As with everything in life, there are often specific circumstances that lead to a mortgage being required urgently and perhaps not all the documentation is not available immediately. In this case, a good French mortgage broker can significantly increase your chances of securing a mortgage in France quickly by placing your application with a bank that requires less documentation or can proceed...

Saturday, 24 October 2009

Latest rates for fixed and variable rate mortgages in France decrease

The latest news from France is that rates are decreasing due to competition for mortgages between banks. One of the biggest specialist French mortgage lenders has recently dropped its rates by 15%. This 15% rate drop is anticipate to spread through banks that offer mortgages in France and interestingly the drops apply to both the spreads/margins the bank charges above the Euribor* on the loans and the initial rates.For the variable repayment French mortgage, the rate which was previously 2.8% and has now dropped to 2.3% with a margin over the Euribor* of 1.3%. For a five year fixed rate French mortgage the rate was 4.25% with the current rate now standing at 3.95%.These are some of the best rates for mortgages in France currently and also compare very favourably with rates for mortgages in...

Friday, 23 October 2009

Fast French bank account opening at distance

Choosing a French bank account can be a bit daunting but the general rule is that you definitely get what you pay for. The free bank accounts generally do not offer Internet banking in English or have customer service advisers who speak English. It is definitely worth considering a fee based account which should not be more than €50 per year. This will provide you with a French bank account that offers Internet banking you can understand and bilingual staff which will mean that you will be able to resolve any issues that come up quickly and easily.If you would like to open a French bank account via Athena Mortgages you will simply need to send us a few documents by scan and your French bank account can be open within 24 hours. we require:Signed French bank account application (copy first and...

Thursday, 22 October 2009

How a 100% French Mortgage works

Got an enquiry today from Steven who wanted to know more about how 100% French mortgages works.Steven asked, "Please explain how a 100% mortgage would work,could I buy a property with no money down in France with the a strong chance holiday lets could cover the mortgage,is there a catch,and what would be your fees."Ignoring the obvious element that the loan amount would have to be affordable a 100% French mortgage is catch free. It does what it says on the tin, it's a 100% French home loan that can be used to purchase either an existing second home, buy to let or a French leaseback where the VAT is advanced by the developer. The only properties which are excluded are new build/off plan properties that do not have the 'residence du tourisme classification'. However, whilst 100% of the purchase...

Wednesday, 21 October 2009

French mortgage rates in 2010

Predicting interest rates and French mortgage rates is a game that can win you millions if you work in the city but at the cold hard face of decisions about which French mortgage to take out, looking at trends may save you some money.The pound strengthened today on the back of the Mervyn King's speech last night in Edinburgh to €1.11 indicating that a rise in UK interest rates is not as a far away as was previously thought. 'I do not know for how long interest rates will remain so low but at some point they will return to more normal levels' King said 'And it would be wise to take this into account in your financial planning.'Indeed, interest rate futures in the States are pointing to a rise in U.S interest rates within a few months and generally what happens in the U.S first, soon comes to...

Tuesday, 20 October 2009

French Mortgage

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Monday, 19 October 2009

FRENCH PROPERTY AND MORTGAGE SUMMARY OCTOBER 2009

French property prices rise by 0.1% during SeptemberPrices now 2.8% higher than six months agoNumber of French mortgage enquiries through Athena up 21% during Q3French mortgage completions at Athena Mortgages up 14% Q3 on Q2London, 19 October 2009 – Similar to the UK, the French residential property market is continuing to show signs of stabilisation. While prices* fell by 1% during Q3, they rose by 0.1% during September, resulting in a total positive return for the period April to October 2009 of 2.8%. Returns for the year to date have now pulled back to a respectable -7.8%.Unlike the UK, however, a history of prudent lending in France (lenders do not allow borrowers’ total outgoings on finance payments to exceed one third of their total gross monthly income) has meant mortgage finance is...

Saturday, 17 October 2009

100% French Mortgage best bet for UK buyers until 2014 -Report from Ernst and Young says pound will stay weak for four years.

A 100% French mortgage seems to be the option of sense for the next four years due to the weakness of Stirling for UK buyers of French property. The pound has lost more that a quarter of its value against the Euro in the past 2 years and as the value of Stirling continues to fluctuate, parity with the euro cannot be ruled out. So for those looking to buy French investment property of buy a dream home, what does the future hold for Stirling? According to a report by accountants Ernst and Young, the pound is likely to remain weak as international investors decline to invest in the UK in the face of the UK's growing budget deficit. This lack of investment will keep the economy slow and keep interest rates in the UK at the low rates currently being experienced.The news is not all bad, though,...

Friday, 16 October 2009

Mortgages in France see competiton and innovation

Mortgages in France have not historically been a hot bed of innovation and competition but signs are that the French mortgage market is beginning to catch up with its cousins abroad. Recent reports from French specialists Empruntis reveal that September showed a reduction in the average rates of 0.20% for fixed rates for most durations and a reduction of 0.15% in the rates for variable mortgages indicating strong competition from French banks and French home loan specialists.For mortgages in France for non-residents, we are seeing innovation with a next generation Hybrid mortgage product with rates typically under 3%. This Hybrid mortgage allows you to split your loan into two parts, one on an interest only basis and one on a capital and interest basis. There is a minimum loan amount of €300,000...

Thursday, 15 October 2009

Guide to getting a French mortgage or How much can I borrow in France?

French mortgages are somewhat different from loans/bonds/mortgages in other countries. For a start, in 95% of cases the amount you will be able to borrow from a French bank will be based on an affordability calculation that will be linked to your provable income, whereas in the UK and US it is possible to have "self cert" mortgages where no proof of income is required. In the Anglo Saxon world, with a certain amount of deposit, the future rental income from a buy to let rental property will be sufficient to obtain mortgage finance without reference to income documentation from employment or accounts. That is not to say that French banks do not consider the future rental income from buy to let or investment property, indeed, some banks will take up to 100% of the future rental income from the...

Wednesday, 14 October 2009

Live longer and be happier with a mortgage in France

It's official, the France is now sitting pretty at the top of the league for the European quality of life index according to a study from U switch published yesterday. The report paints an idyllic picture for those citizens from the UK who can move to France where they will enjoy lower costs for life's essentials such as food and fuel, early retirement, more holiday, more sunshine, better heath care and a longer life by 2 years. Access to the more relaxed lifestyle available in France is accessible to the Brits who have the highest average salaries in Europe and many more are now enquiring about properties and mortgages in France according leading French brokers.In August and September enquiries for mortgages in France at Athena Mortgages were up, with many enquiries for 100% mortgages. Mortgages...

Tuesday, 13 October 2009

Buy a French property with a 100% French Mortgage to hedge against inflation

The French mortgage market in France offers a perfect means of buying French property assets as a hedge against the impending prospect of rising inflation in the years to come. With interest rates as low as they have been since the launch of the Euro and the uncertainty in the French property market offering bargains, now is certainly the time to find out how much you can borrow in France and the French mortgages on offer to you.It does seem as though we are nearing a change after the consumer price indices after the falls in the consumer price indices of the past two years. Gold is at an all time high and is predicted to double again to match the highs of more than $2000 per ounce in the eighties. So with impending rises in interest rates as economies take off, producing higher inflation...

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