Details on the purchase of a classic French “Maison de caractère”

Purchase of a classic French property

Buy of the month Purchase of a classic French <<Maison de caractère>>.

Emily, from London, fell in love with a presbytery renovation project in the middle of France in an area she knows well with a purchase price of €85,000.

Emily chose a 25 year fixed rate at 4.35% through Athena Mortgages for this her first ever purchase, putting down €25,000 to cover deposit of €17,000, purchase taxes of €6,400 and fees of €1,600.

Her monthly payments for the mortgage €69,840 are €388 with life assurance payments of €17.

Long term fixed rates like this are common in France. It is important to note that there are always early repayment penalties for fixed rates which are usually half the interest rate on any sum you pay off early.