If you wondered how long you needed to wait before being able to buy your dream home in the sun (it reached 30C today in the South of France), then the answer is maybe alot sooner than you thought !
If you can withstand the form filling frenzy of French mortgage brokers, then you will pleasantly surprised with the terms on offer now : starting between 1,7% and 2.8% interest rates for 6 to 25 year loans.
If you can withstand the form filling frenzy of French mortgage brokers, then you will pleasantly surprised with the terms on offer now : starting between 1,7% and 2.8% interest rates for 6 to 25 year loans.
If you can justify a steady income over the last 3 years, and your current loan repayments or rental is below 30% of your net income, then you have the ability to borrow in France.
For a rough idea, what these low interest rates mean, you can borrow 200 thousand euros over 25 years for less than 900 Eur/month or 660 Pounds Sterling/month.
And if you tell the bank you are buying the house as an investment to rent it out, then you can put a much lower deposit than the standard 20% normally required. You can then decide after, to rent the house as a summer rental only, and get about the same return as if you rented it out yearly.
Contact SmartfinderVar and we can give a realistic first appraisal of the costs of home ownership in the Var compared to the rental income you can get. Also we will pleased to put you in touch with our trusted English speaking partners, who can help you get finance, handle the paperwork and have been helping hundreds over the years realize their housing projects.
For a rough idea, what these low interest rates mean, you can borrow 200 thousand euros over 25 years for less than 900 Eur/month or 660 Pounds Sterling/month.
And if you tell the bank you are buying the house as an investment to rent it out, then you can put a much lower deposit than the standard 20% normally required. You can then decide after, to rent the house as a summer rental only, and get about the same return as if you rented it out yearly.
Contact SmartfinderVar and we can give a realistic first appraisal of the costs of home ownership in the Var compared to the rental income you can get. Also we will pleased to put you in touch with our trusted English speaking partners, who can help you get finance, handle the paperwork and have been helping hundreds over the years realize their housing projects.
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