Banks are busy! The success of French mortgages.

High mortgage demand

French banks are experiencing a very busy moment with mortgage offers being issued within 4 months, a jump from 3 months as usual. It looks like bad news for your patience but is, in fact, great news for your wallet.

On the non-resident market, the average interest rate for a mortgage is lowering more and more, reaching 1.80% fixed on 20 years. But with a very good profile, it is possible to decrease even further, to reach between 1.25% to 1.50% fixed on 15-20 years.

This is not expected to change until august 2020 says Mario Draghi, ex-president of the European Central Bank. It is the time to invest in French real estate!

Important note: with the holiday season coming, French banks also tend to prioritise applications for existing properties over off plan properties and will push for resident files as well in order to close their objectives.