AN ENGLISHMAN’S HOME IS HIS CHATEAU

French homes have somehow avoided the global property devaluation and instead French real estate has remained quite resilient. The Association of French Estate Agents, FNAIM, reports that recovery is definitely underway in France, and that there will be an uncommon house price gain during 2010.

Whilst 80% is the norm France still offers some100% mortgages to expats, so that the British buyer can purchase French real estate with no money down.

Granted the purchaser must prove that he can afford the payments and have sufficient equity to cover the loan if necessary. What has saved France from property devaluation is because the French banks stipulated that a borrower cannot spend over 1/3 of their gross monthly income toward their financed payments.

Thus Frenchmen relentlessly limited their exposure to overborrowing risks and self certified credit unlike many other nations.

Meanwhile solvent Englishmen feel a tremendous appeal for 80% to 100% mortgages in order to purchase French real estate. The British are recognizing the great investment potential while they still suffer with the dreary pound-euro state of affairs.

Why is it of interest?

Because the French property market is set to rise again when many others are not.

British purchasers are looking over modern as well as traditional French homes, farms, town and country properties, lakefront chalets, chateaux, and especially coastal properties, as well as leaseback schemes which offer highly leveraged investment properties that can be utilized at the moment as a French get-away, an autopaid mortgage and a long term investment for very few pounds invested.

The Englishman is always very attracted to intriguing period French houses that can be found in a typical village, while some also wish to klive the high life in the middle of Saint Tropez so that they can frolic with the wealthy all summer long.

Others long to be in secluded little wine producing villages in the Languedoc where they can view the Pyrenees all the while. Meanwhile, English wives marvel at the amazing fresh produce that is sold in French outdoor markets or take up French cooking classes.

Vive la France eh and vive la difference!

Now about that chateau...