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New ways into France

1st August 2008 | back to article listings BACK    print this article PRINT

Getting to France these days is easy. What used to be a simple enough ferry trip or a short hop on a plane has now become a very cheap low-cost airline ride or a high-speed dash through the tunnel.

Once arrived, some have found that the ease of travel is a two-way street (or track), meaning the prospect has arisen of living in France and commuting to Britain, something that led to a much-publicised increase in interest in the north of France from Britons after the upgraded (and faster) Eurostar service out of King's Cross was started last year.

Yet many of those who have bought in France, whether to live or to invest, have raised the capital to do so against their own home in Britain. This popular option, however, is now less in favour due to the economic downturn, reports Homes Worldwide.

Yet, the portal reports, there is an alternative: The euro mortgage.

Lucie Jeffrey of mortgage firm Baydonhill told the portal that some would-be buyers have held back in the vain hope that there will soon be a change in exchange rates. She stated: "Buyers seem to be sitting on their hands, hoping the pound strengthens against the euro in the next few months - but that's not looking likely."

The alternative of a euro mortgage, she said, had a number of advantages. Ms Jeffrey explained: "There are a range of advantages when you choose a euro mortgage. The majority of your sterling can be left in the bank as you can take out a euro loan with maximum LTV (loan to value rate) of 90 per cent in France. You'll only need sterling for the initial deposit, notary fees and valuation fees".

How many may take up this possibility remains to be seen, but the thirst for investing in property remains, as holidaylettings.co.uk reports. It has pointed to research by B&CE Benefit Schemes that shows 44 per cent of UK workers to have invested in property (either in the UK or overseas) as an alternative to pensions. Many have done so because they believe this will give them more control over their assets, while a hard core of 12 per cent simply don't trust pensions in Britain.

For those looking to France for this investment, the information is plentiful and has now been added to by local specialist French Entree, who have launched their Pays de la Loire website to advertise the charms of the valley and provide information on the prospects there, including living, holidaying and of course investing in property, reports PR-USA.net. For those who seek an alternative investment to pensions and those considering a euro mortgage, this part of France may be high on the list of places to consider.

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