There is a deal of good
news for people looking to purchase property in France with three of the
biggest lenders recently cutting interest rates and the current continuing
strength of sterling against the Euro. (Financial Times Money Section 14 April
2012) However, it is all too easy to
get carried away when property hunting and one useful exercise that you can
carry out, even before arriving in France is to investigate exactly what funds
you might be allowed to borrow. With an
approval in principle you will both be more certain of the price bracket in
which you can search, but when the time comes to negotiate, this will also
stand you in good stead in your sincerity as a purchaser. Bear in mind that the process of applying
for a French mortgage can take many weeks and so it is always worth getting the
ball rolling early. Of course, mortgage
rates and conversion rates will always fluctuate, but by understanding exactly
what may be on offer to you you will have cleared the first hurdle of the
buying process.
