If USD buyers are currently enjoying unprecedented buying conditions in France, then for Sterling things have tempered, mainly due to the weakening of the pound.
However some buyers are still pushing ahead, citing the fluidity of the market as the main impulse for buying. One recent purchaser who has just reserved a three bedroom apartment in Châtel in the French Alps knew that even though the currency rate isn’t on his side, it made sense to move ahead quickly.
“The pound might be down, but for buyers in euros that doesn’t matter,” said Mr Jackson, of Aintree, UK. “The French and Dutch are still buying, as are the rest of the Europeans. They’re looking for opportunities where Brits have fallen out of the market. From what we experienced, ski resorts are still buyers’ markets and opportunities do not hang around for ever. We therefore decided to take the hit on the pound and it was softened anyway by a low long fixed rate. We took an 85% loan to value and may pay some of it off earlier if the currency shifts back over the next 12 months.”
To talk about your options and how to plan around the recent shift in currencies, please get in touch with one of our French mortgage experts today.