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2004 has almost passed us by. The year has seen prices continue
to rise in France, whilst many prices in the UK have fallen. Interest
rates for mortgages have remained steady in France, whilst rates
have risen significantly in the UK. The £ has weakened against
the uro, trading within a range of 1.52 - 1.37 (an 11% variation)
- all of which is not exactly great news if you are a buyer. Is
there anything that you could do to overcome these obstacles? Of
course there is read on...
Mortgages are still available from
2.75% here in France, but lending requirements are more rigid than
in the UK. Getting a mortgage approved in principle ahead of your
viewing visit makes sense, and puts you in a strong bargaining position.
You are almost a cash buyer and may be able to negotiate on price
- quite doubtful if you still have to secure a mortgage. Dont forget
that arranging a French mortgage also takes time, allow around 3
months. Vendors dont like suspensive conditions based on you having
to get a mortgage approved. Getting things sorted out in advance
is the best solution. For a quotation please click
here to download our in principle decision form.
uros are now the currency for most
of Europe, although French vendors still talk in Francs and British
buyers still think in £s! By using our specialist currency
business partner Foreign Currency Direct
you could save yourself £000s. They do not charge you fees
or commission; they can guarantee exchange rates for now and in
the future; they will transfer your currency by priority free of
charge;* they are the only dealers offering an Irrevocable Payment
Document (IPD) as a guarantee of payment.
We have a dedicated dealer (Robin McEwen) with a direct line (01494
725528), and there is even the possibility of £100 cashback
for you.**
We urge you to speak to Robin today. It doesnt cost a penny to
open a trading facility, you can trade when you are ready, and fix
the cost of your house. Too often buyers fail to heed this advice
and find the cost of the house climbing as the £ falls against
the . Click here for an application
form.
*On transactions of £50,000 or more.
**On transactions of £125,000 or more.
We also offer a comprehensive range of insurance policies to allow
a smooth introduction to the French administrative systems. Of the
policies that we offer, one in particular is most valuable and has
just been relaunched, with extended cover.
Title Insurance - provides peace of mind, offering owners a broad
cover, against unknown title defects existing at the date of the
acte de vente.
As the policy covers unknown title defects, it is logical to expect
that known title defects, and defects not affecting the
title (for example lead pipes, asbestos, termites, Government rights
to build a by-pass or erect pylons, contamination) are excluded.
Note that there is no need whatsoever to prove fault, let alone
negligence, whether it exists or not. Just lodge the claim form
and the Title Insurer will take it from there. You will have a remedy
within a guaranteed period of 6 months from when full details of
the claim are received.
One-off premium, paid at the time you take out the policy. It
is best to arrange for the Policy to come into force when you become
the owner (the date of the acte de vente). The premium varies depending
on the value of the property. It is now currently possible to title
insure properties costing/worth over 300,000 up to a maximum of
1,000,000.
When you compare on the one hand the impact that a title defect
could have on your enjoyment of your French Property, and its value,
and the months if not years of anguish and fees that could be entailed
to attempt to rectify the situation, against on the other
hand the cost and guaranteed benefits of a Title Insurance policy,
it would indeed be imprudent to proceed without Title Insurance.
Click here for an application form.
Viewing soon? If you are planning
to view houses here soon, we suggest that you let us know your arrival
dates about 6 weeks in advance. We can assist you find accommodation
if required, but it gives us some preparation time to plan a viewing
schedule of suitable properties.
Contact us to advise
the dates of your visit and we can let you know about new properties
coming on to the market ahead of them being advertised. Allow us
to help you make the most of your visit. We are dedicated to providing
a comprehensive property service for busy individuals wanting to
buy a second home, main residence or investment property in this
area of France. Having a property here ourselves and an existing
network of both English and French people to call on certainly helps
us to find the type of property you desire at the local asking price
and not the inflated prices often quoted for overseas buyers by
some other agents with hidden fees for extra services.
Inheritance Tax changes The new
tax rates for 2005 are about to be introduced. Good news is expected
for couples, married and unmarried for the New Year with higher
allowances. A global allowance of 50,000 in addition to the regular
allowance will reduce the burden for children upon the death of
parents. Some good news for everyone! |
