New decrease of the interest rates in October: it is time to purchase a property in France!

It is the return from summer holidays for everyone!

Since last September, French banks are communicating their new interest rates for non-residential mortgages.

These rates had been as low for the past quarters of 2013 as we could only expect an increase, but the new results for interest rates are a very surprising: some of our bank partners announce a reduction of 0.3 points on fixed interest rates!

Thus, the interest rates for residential mortgages remain at a historically low level, supported by the ECB President, Mario Draghi, who applied in September unchanged interest rates even if the economic recovery is effective.

Meanwhile however, the interest only and capped rates have increased by 0.2 and 0.4 points respectively. But because the UK base rate is now at 0.5% and the French one at 0.2%, it is still the good moment for foreign people who want to purchase a second-home in France, to apply for a mortgage at an interesting rate.

With Sextant Private Finance, you will be offered the best mortgage products with highly attractive rates. We have prepared for you an example of mortgage product based on a property price of €200.000, monthly repayable on a 20 years term.

If you need more information regarding French mortgages, please contact us on our direct line : 02 074 284 918 or enquire today and get some quotes. Our team of bilingual, experienced mortgage advisers will be happy to assist you in your project.