The availability of mortgages with low rates is reducing in France, with many lenders increasing the cost of borrowing in the last month.
Head of operations at overseas mortgage specialist Connect Overseas Geoff Simmonds explained the cost of variable rate finance in the country has risen from 2.09 per cent to 2.79 per cent over the past four weeks.
However, he stated now is an opportune time for people to pick up property in France at a reduced cost, thanks to the strength of sterling against the euro.
"Overall, these are great times for bargain hunters, but I would caution buyers to source their borrowing needs in advance as the lending market is tightening," Mr Simmonds concluded.
There is evidence more buyers are targeting the French real estate sector, with Trevor Leggett, managing director of Leggett Immobilier, recently revealing his firm experienced a 39 per cent rise in transactions during 2011.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com
Head of operations at overseas mortgage specialist Connect Overseas Geoff Simmonds explained the cost of variable rate finance in the country has risen from 2.09 per cent to 2.79 per cent over the past four weeks.
However, he stated now is an opportune time for people to pick up property in France at a reduced cost, thanks to the strength of sterling against the euro.
"Overall, these are great times for bargain hunters, but I would caution buyers to source their borrowing needs in advance as the lending market is tightening," Mr Simmonds concluded.
There is evidence more buyers are targeting the French real estate sector, with Trevor Leggett, managing director of Leggett Immobilier, recently revealing his firm experienced a 39 per cent rise in transactions during 2011.
Article by +https://plus.google.com/100585359199579398168?rel=author on behalf of Propertyshowrooms.com