Find Out All You Need To Know With French Mortgage Advice
The economic recession has led to many people in the UK looking for safer havens for investment of their hard earned money
. While real estate has always been a favourite asset class for investment in many countries, people in the UK particularly have found making property investments in France a viable and sound decision.
This has made them look seriously at a second home in France and thanks to better transportation infrastructure such as a good network of roads, ferry routes and rail, this country has seen a proliferation of UK-based investors buying property here, and that has ensured good business opportunities for those in the service of providing French mortgage advice. The air network too has seen many improvements take place with airport numbers going up and many budget airlines coming into existence. The proximity to the UK is another strong reason for this interest in France.
French banks and lenders are willing to encourage such investments from non-resident individuals through easy lending rates. There are also no pre-closure penalties levied in case you wish to settle the mortgage loan taken early. The French banks have been prudent in not allowing indiscriminate lending to individuals and have managed to keep their books relatively clean as compared to US and UK banks, where such indiscriminate lending to sub-prime borrowers caused the economic downturn in the first place.
The investment appetite for property buyers is also satisfied by the diverse property available in areas South of France and the easy access provided to these destinations by reputed budget airlines. You can get property still at reasonable prices and get good yields in capital terms as well as rental revenue due to the influx of tourists, as well as the many number of business conferences taking place at different times of the year. France therefore seems to be a very logical investment destination for people in the UK.
However, it is necessary to know about the real estate and property rules existing in this country in order to make a wise investment decision. For this you need to get in touch with an independent mortgage broker or firm that are registered in France, and who can provide you with correct French mortgage advice. This would also mean that he has a Siret number giving him the authority to provide mortgage-related advice to borrowers due to his registration with the Central Bank in France. The advisor should also be holding Carte Demarchage Bancaire as well as ORIAS membership. This is mandatory for anybody living in France, or for a company having its office in this country.
This individual or mortgage firm should be a one-stop solution provider and should be able to assist you right from helping you locate a suitable property, negotiate and conclude the transaction at the best possible mortgage rates and also deal with English speaking notaries and other legal authorities to ensure that you are fully compliant with the legalities of the country.
by: Lawrence White
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