After a relatively quiet year in 2009, British buyers have been returning to the French property market in their droves.
A combination of factors have helped their confidence including a strengthening pound and increased consumer confidence, not to mention excellent snow in the French ski resorts.
“We’ve seen a tremendous increase in the number of people purchasing ski properties in prominent ski resorts such as Chamonix but also in smaller, family resorts such as Valfrejus. Customers arranging mortgages for ski properties are up 60% compared to the same period last year” comments HILL.
The affordability of the smaller, less known resorts is certainly a key factor in encouraging people to purchase, and after a few years of uncertainty and holding back, people are setting the wheels in motion to realise their dream of owning a French ski property.
“The fact that interest rates are so low is helping. It’s been a long time since you’ve been able to get a 2.2% interest rate, or a 20 year fixed rate mortgage from just 4.15%. The security offered by fixed rates is helping comfort purchasers as they know exactly what their outgoings will be for the entire term of the mortgage. After the unpredictability of banks in the UK this additional peace of mind is good news for those wishing to plan ahead”.
French Mortgage Direct believes that the French mortgage market will continue to evolve in the future due to the stability of the French property market. Whilst property sales may have slowed in some areas the market has solid foundations, underpinned by responsible lending, which contrary to the US and the UK helps in maintaining house prices stable.
For further information please contact French Mortgage Direct on 0800 530 0673 or visit www.frenchmortgagedirect.com
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