With a pound to Euro conversion never so low, you might think that it is definitely not the time to invest your savings into a French property. This is without counting on our ability to find you the best and lowest fixed rate ever seen! With fixed rates starting at 1.05% (over a short duration of 6 years), we will show you how the slight loss of your deposit from £ to € will be compensated by the current lowest mortgage rates!

Let’s take the situation back in May 2016, where the pound was worth 1.31€.
For a purchase of 200,000€, and a mortgage of 160,000€ (80% loan to value), you would have needed a deposit of 40,000€ + notary fees approx.16,000€ — a total deposit of 56,000€ approx., thus £42,748 of your savings.
Today however, in order to come up with this deposit, you will need £49,557. (rate as of Nov.9th: 1£ = 1.13€): a further £6,809 needed today versus last May.

However…

Back in May the interest rate for a 20 year fixed mortgage was 2.35%. Your monthly payments for a mortgage of 160,000€ would have been 836€. Today, for the same mortgage, the rate has dropped to 1.85%! And your mortgage monthly payments will only be 798€. This might not look like a huge difference on a monthly basis (-38€) but over the full duration of your mortgage, this means that the total cost has dropped from 40,688€ to 31,543€, a decrease of £8,313 !

Don’t wait longer and take advantage of these low interest rates to get your mortgage in France! Talk to us about your project and we will be happy to present you with the best solution.