International Mortgage News

French Mortgage News

Just a quick update on the French market and to clarify the various options available:

1. Standard Euro Mortgage on French Property

Arrange a standard Euro Mortgage through a French bank or an internatnational bank based in France.

French banks will still lend up to 85% of the value of the property, even in the current climate and rates are in my opinion pretty amazing at the moment. Particulary long term fixed rates.

2. Currency Mortgage on French Property

There are international banks that will lend on French property and will do so in most major currencies. Clearly the bank will require some justification of the added risk factor, i.e. if your income is in Sterling and you want to pay the mortgage in sterling, this makes perfect sense. In this scenario, you should be able to borrow up to 70% of the value of the property.

3. Private Bank Lending on French Property

The third option is for wealthy clients and involves the Private banks, this is typically for large loans and the structure of the loan is negotiable on a case by case basis. Historically I’ve arranged loans up to 75% of the value of a property (100% where other asets are taken into consideration), but in current market conditions, Private banks are only likely to lend 50%* of the value of the property. (*Feel free to contact me to discuss this).

As with option two, lending can be arranged in all major currencies and may also offer switching facilities if required.

Details correct at 08/10/09

Individuals must demonstrate adequate net asset value and disposable income to service the loan.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Multi-Currency Mortgage Lending in Portugal

This service is designed for customers planning to purchase properties outside their country of residence.

Where a client is associated with a particular currency via their earnings or assets, it can make sense, to borrow in that particular currency. An example being someone working in the United Kingdom, who is paid in Sterling, purchasing a property in Portugal. The mortgage would normally be arranged in Euros, but can be arranged in Sterling to minimise the clients exposure to regular exchange rate shifts.

Currencies available include: Sterling, Euros, Swiss Francs, US Dollars, Hong Kong Dollars, Singapore Dollars, Australian Dollars, New Zealand Dollars and Japanese Yen.

Currently lending of this type can be arranged in Portugal to a maximum of 70% of the value of the property.

Details correct at 14/07/09

Individuals must demonstrate adequate net asset value and disposable income to service the loan.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.

Multi-Currency Mortgage Lending in Spain

This service is designed for customers planning to purchase properties outside their country of residence.

Where a client is associated with a particular currency via their earnings or assets, it can make sense, to borrow in that particular currency. An example being someone working in Hong Kong, who is paid in Hong Kong Dollars, purchasing a property in Spain. The mortgage would normally be arranged in Euros, but can be arranged in Hong Kong dollars to minimise the clients exposure to regular exchange rate shifts.

Currencies available include: Sterling, Euros, Swiss Francs, US Dollars, Hong Kong Dollars, Singapore Dollars, Australian Dollars, New Zealand Dollars and Japanese Yen.

Currently lending of this type can be arranged in Spain to a maximum of 60% of the value of the property.

Details correct at 14/07/09

Individuals must demonstrate adequate net asset value and disposable income to service the loan.

Want to find out more information, please contact us via our website: www.international-mortgage-broker.com

www.international-mortgage-broker.com and IMB Financial Solutions are trading names of Julian Myles Fidler

Your home or foreign property may be repossessed if you do not keep up repayments on your mortgage. Changes in the exchange rate may increase the sterling equivalent of your debt. Be sure you can afford the repayments before entering into any credit agreement. Any quotation supplied is not an offer of a mortgage. Overseas mortgages are not regulated by the UK Financial Services Authority, you will not be protected by them in respect to advice given.