France still the most popular overseas market for UK buyers

Despite the protracted history between the two nations - and this month's European football championships notwithstanding - it seems the British love for France and the French way of life remains strong if the trend of UK nationals buying second homes there is anything to go by. Whether due to the fact of geographical convenience, a favourable client, good food and wine couple with a relaxed approach to life, despite all the recent economic turmoil, France remains the most popular country for British nationals buying a second home abroad. Statistics released recently by the Observatoire Crédit Logement have revealed that French mortgage lending has actually increase slightly in recent months and remains stable. It is worth noting too that, unlike many countries and other popular second home locations like Span and Portugal, the French market didn't see the almost exponential rise in property prices during the boom and so has not suffered the cataclysmic falls seen in those other markets since then either. So for pure stability France has stood out and this has aided its popularity with buyers. The mortgage market is also very mature and offers many different options to would-be buyers. Rates start at 2.25% and LTVs as high as 85% are available in some circumstances for new purchases (max 70% on a remortgage) and even though interest only products as being withdrawn or restricted in the UK, they are still very available in France. Indeed when selecting a French mortgage you can select from a wide range of fixed, floating capped or Tracker mortgages options to suit your circumstances. Nor is the language barrier a reason to shy away from getting a French mortgage. At Choice Loans we can put you in touch with an English speaking native to guide you through the process and ensure you avoid many of the pitfalls. With so many UK citizens having purchased in France now, it is a tried and trusted procedure that should present no problems. The established legal system is also in place to protect you and, just like in Britain, there are options for recourse should things not turn out as you planned. To learn more about buying in France then we suggest you read our Guide to French mortgages here which will provide an overview of the process. If you want to learn more or to discover what rates and repayments you may be eligible for the either complete our brief Overseas mortgage enquiry form here or give us a call on 0845 1260350 to be put in touch with a French mortgage specialist.