October saw another new all-time low for a 20 year fixed rate in France which now stands at an incredible 3%.
In other news, we have noticed a loosening of bank criteria to include increased loan-to-value levels and mortgage products open to expatriates. In the past French banks had quite a narrow definition of the term “expatriate.” This only really included your typical permanent expat and also those on contracts from their home country for a short term fixed duration.
Now many banks are willing to accept borrowers who simply work for a stock market listed company listed on one of the main premium exchanges like the CAC 40, Nasdaq, and FTSE100. This will mean a greater number of non-residents will be able to access a larger number of mortgage products. Typical LTVs will be in the region of 70-80%.