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....

Wednesday, 11 November 2009

Outlook good for low mortgage rates in France

With the reaction on the FTSE today to Mervyn King’s announcement that mortgages rates look certain to stay low in the UK despite a coming spike in inflation, the outlook for low mortgage rates in France. Fortis bank announced today that it was selling bonds covered by ECB collateral bring liquidity to the market again. Two other major French banks also announced that they were also using mortgage backed collateral to raise further finance into an increasingly competitive market for mortgages in France. We have noticed several banks dropping the margins over the Euribor for variable rate mortgages in France in the past few months with many lenders now back to margins below 2% having dropped the margins by 20% or more.Low rates and the availability of up 100% finance for French home loans provide...

Monday, 9 November 2009

French mortgage best buys for mortgages in France

Finding the best buys for mortgages in France can take some time. Is it best to go for a bank near to the location you are buying in or is it better to search for the best buys with a French mortgage broker? The answer probably is a combination and depends partly on the time you have available to commit to finding the best buy and the level of you spoken and written French. The main problem with dealing with local French banks is that the majority are not equipped to deal with an English speaking customer, just as you might say the local branch of Bristol and West does not have multi-lingual speaking customer services to service buyers from France or Russia. By comparison a French mortgage broker with the right connections can provide the services of personal French banker who speaks English...

Thursday, 5 November 2009

ECB keeps rates on hold at 1%

Another month, another hold by the ECB who do not feel that the Economy is in a good enough state for the various stimulus measures to start being withdrawn. he does want EU governments to get their books and order and to plan an exit strategy from the recession. Clearly the noises here are the beginnings of the upturn from where I'm standing. It may take a few more months but the signs are that confidence with blossom in the spring with the majority of the EU economies growing again.It does not seem like the economies will really take off, especially with unemployment still rising and EU unemployment predicted to rise to 10% in 2010. These times will prove a struggle for many but the fact remains that a large percentage of society will pass through this 'economic crisis' without suffering...

Wednesday, 4 November 2009

Why buy French property now?

Ok, I know it seems like we might be a bit biased given that we spend our time arranging finance for second homes and investment properties in France but I genuinely think it is a great time to be buying property in France.Let's look at what's going on. ...Interest rates at historic lows, so it won't be getting any cheaper to financeDiscounts available on properties in some areas, good time to buy to maximise returns100% French loans available, no need to worry about strength of Euro for currency exchange.During a long chat with a journalist today, I convinced myself now really is a great time, perhaps another golden time for getting finance in France and snapping up undervalued French assets. One of the main reasons people are put off from going for a property in France is that the Euro is...

Tuesday, 3 November 2009

French mortgage comparison tables: Things to look out for.

Using a French mortgage comparison table is a good method for comparing the differences between mortgages in France. A few sites offer such tables but generally these French mortgage comparison tables do not go into much depth, encouraging a click to fill in an application form or prompting a call to the French mortgage broker to clarify the situation. This trend is quite sensible in fact as due to the complexities of the French mortgages on offer make it quite difficult to display all of the salient points, rendering the comparison simply of the latest rates for French mortgages relatively meaningless.For many years French banks have used an introductory rate, generally fixed for 3 months to make an attractive headline number which many buyers in France have been drawn to when browsing French...

Monday, 2 November 2009

French equity release mortgages in France gaining in popularity

French equity release mortgages are increasingly popular with our clients at Athena Mortgages with many new enquiries coming in daily. The main reason for the interest is of course the exchange rate which has the euro very strong against the pound and a large basket of currencies.Those who bought in the last few years borrowing against equity in their property in the UK or elsewhere to profit from the strength of the pound to purchase a dream or bargain property in France are now reaping the benefiting by releasing that equity in France, converting the funds to Stirling with a profit approaching 25%. Some of our recent clients are using the windfall to pay off a portion of their UK mortgages, fund new ventures or additional properties.Getting an equity release mortgage in France is simple....

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