Moving money to France
The growing trend of using currency brokers to transfer money internationally at an agreed rate
Why should you use a currency broker?
You can secure your rate
- Less hassle
Which one should I use?
There are plenty to choose from - make sure the one you choose is regulated by the FSA. Here a couple to get you started:
Euro Immobilier Chalais and its subsidaries are not responsible or endorse any of the content or advice given by external websites. You enter into any agreement with the above or other similar companies at your own risk
French Property finance
As with all property finance deals it is worth shopping around
10 reasons to take out a French mortgage in Euros
1. It's simple
Certain French lenders now specialise in home loans to English speaking buyers. All documentation is in English and the different loan options are clearly explained. An English speaking consultant will deal personally with your application and is always available to help you decide the best option for you and answer any queries you may have.
2. Buy a better property for less
Property prices have dropped in France, but the value of the £ has dropped much more. Funding the purchase with a euro loan allows you to take full advantage of the current low prices before they start to move upwards, and at the same time gives you the security of knowing that you have some protection against any sudden drop in sterling whilst awaiting completion of the purchase.
3. You're in safe hands
French lenders have always been careful to lend only to clients whose proven income or capital is sufficient to allow them to meet their monthly repayments with no strain on their budget. This has made French lenders much less exposed to 'bad risks' than their UK counterparts, and as a result their ability to offer home loans at attractive interest rates has withstood the recent financial crisis.
4. It makes financial sense
In a time of fluctuating exchange rates, a euro mortgage is an excellent hedge against low sterling values.
5.Profit from poor exchange rates
By funding part of the purchase with a euro mortgage, and keeping your £'s invested in the UK, you could potentially save 30%!! This is achieved by waiting until the exchange rate improves, thus allowing sterling to rise before using it to buy euros.
6 It's flexible
Variable rate euro mortgages are available with no early repayment penalties so you can clear the loan whenever you wish. Should sterling rise or the euro fall, you can seize the moment to pay off all or some of the loan, thus making a significant saving on the sterling price paid.
7. Tailor-make the mortgage to suit your needs
A wide range of options is now available, depending on your status: repayment mortgages, interest only loans, home renovation loans, equity release, re-financing, and even post-finance within the year following your purchase. Repayment options are user-friendly and are designed to help you manage your monthly budget.
8. Avoid the negative equity trap
By borrowing in the local currency you can be sure that the value of your property will always exceed the sum borrowed, whatever happens to exchange rates.
9. It's tax-effective for French residents
If you are tax-resident in France you could be eligible for tax credits if you take out a mortgage to buy your principal residence. A couple can currently receive credits of up to 3000 € in the year following the purchase and 1500€ for the following 4 years, with an increase for each dependent child.
10. It's good for you!!
Avoid the stress and worry of the UK and come and join us for a better way of life in France.
Update : March 2010
Town Country Proeprty France (Euro Immobilier Chalais) is not a mortgage provider and offers the above in good faith as general information for our clients. None of the above shall be taken to form part of any contract. Please consult the mortgage provider for information on current rates, terms and conditions, or to obtain a free quotation