With a certain amount of uncertainty regarding the property market in the UK some may find borrowing from banks a bit difficult at the moment. Not so in France due to the infra structure and more stringent rules on lending we don’t seem to have been affected by the credit crunch. The property market is holding firm and one of our lending banks has just made borrowing even easier! Today I received the following mail.

Please enjoy the promotional offers for any complete application file sent to Head Office before the end of the year.

1/ EQUITY RELEASE PROJECTS : Loan to Value goes up from 70% to 80%.

2/ INTEREST ONLY : Minimum amount of mortgage = 70,000€ instead of 100,000€ (subject to net assets)

3/ Possibility to be financed 100% for CAPITAL REPAYMENT MORTGAGE and 90% for INTEREST ONLY MORTGAGE of the net purchase price excluding estate agent fees – unless already included in the price – and notaire fees) for clients belonging to List A (see attached document)
Maximum mortgage amount : 300,000€ – Subject to conditions (income to outgoings and leftover)

So where’s the catch, well you have to apply before the end of the year, it’s as simple as that, so if you need finance for your French property purchase and have been turned down else where please contact us to see if we can help you.