The number of mortgages granted by French banks fell again in the third quarter, making it integral that those looking for property in France have their credit in order when applying for finance.
According to figures from the French Mortgage Watchdog, there was a drop of 23.3 per cent in the penultimate quarter of 2012, compared to 2011.
While there is traditionally an August slump in mortgages, the recovery that normally occurs in September was disappointing.
Michel Mouillart, professor of economics at the University of Paris-Ouest and author of the study, explained that the country has never faced a drop of the same magnitude and speed.
Nevertheless, the property market is still attracting British buyers, specifically in southwest France, the Global Property Guide reported.
Trevor Legget, chief executive of Legget Immobilier, explained that his firm has seen transactions in the area sour by around a third over the past two years.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com
According to figures from the French Mortgage Watchdog, there was a drop of 23.3 per cent in the penultimate quarter of 2012, compared to 2011.
While there is traditionally an August slump in mortgages, the recovery that normally occurs in September was disappointing.
Michel Mouillart, professor of economics at the University of Paris-Ouest and author of the study, explained that the country has never faced a drop of the same magnitude and speed.
Nevertheless, the property market is still attracting British buyers, specifically in southwest France, the Global Property Guide reported.
Trevor Legget, chief executive of Legget Immobilier, explained that his firm has seen transactions in the area sour by around a third over the past two years.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com