News from the Aude

Here are the exchange rate update for today Wednesday 09/12/09. GBP/EUR 1.1066 GBP/USD 1.6322 EUR/USD 1.4749 GBP/AED 5.9946 EUR/AED 5.4178 GBP/ZAR 12.3203 EUR/ZAR 11.1351 GBP/CHF 1.6716 EUR/CHF 1.5108

Recently I have seen a good number of clients wanting to buy in Languedoc but have been set back from doing so because of the current strength of the euro against the pound. A way to compensate for this is to take an interest only mortgage in Euros and wait for the pound to increase in value and then transfer the sterling to your French bank account and either pay off the mortgage entirely or leave a lump sum in your bank account. One of my clients this week is looking at purchasing a large house in Carcassonne and renting half of the property out to cover an interest only mortgage and improve the other half of the property over the coming months, this would leave him free to come and go as he likes or maybe take a year or two to learn French and enjoy the French way of life without having to stress over the mortgage repayments. Reading recent reports in the press and talking to clients it seems that property prices are on the rise and people don't want to miss the boat. FNAIM have quoted a property price increase and personally I would agree, the second half of 2009 has seen client visits and property sales back on par with what they were before the credit crunch and the banks and still cautious to lend but with a good deposit and income figures lend they will and the rates are low to boot. For details of mortgages and or foreign exchange companies please contact us for assistance and we'll do all we can to help you.