Reductions of between 0.20% and 0.40% across range of mortgage deals

Conti, the overseas mortgage specialist, is offering even lower mortgage rates for people purchasing property in France.

Reductions of between 0.20% and 0.40% across a range of deals mean that buying a French property is now even more affordable. The rates are available through the broker’s specialist arm, Conti France, the only UK-based overseas mortgage broker with direct access to more than 120 French banks. 

Clare Nessling, Director at Conti, says: “France still accounts for the biggest number of mortgage enquiries we receive, and that shows no signs of changing. The country has become an increasingly attractive investment option, not least because of low interest rates, easy access from the UK, and good rental yields, but also due to some great property prices because of a slower market, which means that there are many motivated vendors who are willing to accept lower offers.”

The reductions mean that even more deals between 3% and 4% per cent are now available. These join the existing best buy rates of 2.09% and 2.49%, the lowest rates currently available through Conti.

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Mike Raybone
Chartered Marketer and emarketing specialist

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Mortgages for British buyers purchasing property in Aquitaine up by 40 per cent since last year.

While France remains a hot favourite amongst overseas property buyers, the Aquitaine region is quickly becoming the region of choice for Britons, according to Conti, the overseas mortgage specialist.

In recent years, the most popular regions have been Provence-Alpes-Côte d’Azur (PACA) and Rhône-Alpes. And while these are still a big hit with British buyers, Aquitaine is the region which has shown the most growth in interest since this time last year. Over the last few months alone, it has accounted for almost a third of Conti’s mortgage completions.

In these challenging economic times, it seems that investors are shunning the emerging property markets where we saw a flurry of activity just a few years ago, and putting their trust in the more established destinations, especially those with history of providing good rental returns. And no more so than in France, where a well-chosen investment could generate a very attractive and secure return over the long term.

The country currently accounts for 37 per cent of the mortgage enquiries Conti receives, up by 24 per cent since 2008.

Clare Nessling, Director at Conti, says: “Aquitaine has really come into its own recently. The Dordogne in particular has always been a favourite, especially as it has a long-established expat community, which is of great importance to many British buyers. But it also has a great climate, a huge range of property types, and is well served by a number of UK airports. And although it has historically carried a higher price tag, there are lots of good deals around at the moment, due to a slower market, which means that there are many motivated vendors who are willing to accept lower offers.” 

Conti says that against the volatility of the British market, French property is seen as an increasingly solid investment option over the long term. It’s also affordable. Rates currently start from just 2.09 per cent, and mortgage availability is still generally very good. And while French property hasn’t been reduced to bargain basement prices, it generally remains well under UK averages, with plenty to choose from within a budget.

Mike Raybone
Chartered Marketer and emarketing specialist

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There is still finance on offer for buyers who are keen to own a property in Spain.

Operations director at Conti, an overseas mortgage specialist, Clare Nessling told Mortgage Introducer that the availability of home loans in the nation is “surprisingly good, despite the negative reports about its property market”.

She explained the maximum loan-to-value still sits between 65 per cent and 70 per cent, but noted this can be higher in regions where the real estate market is considered to be more resilient, such as the Canary Islands and Madrid.

Ms Nessling also pointed out that Spain remains a popular target among overseas property buyers thanks to its accessibility and strong rental potential.

Last month, sales and marketing manager at Taylor Wimpey de Espana Marc Pritchard highlighted Spain’s enduring appeal among holidaymakers, noting a predicted influx of tourists in 2012 is good news for the country’s real estate industry.

He singled out Alicante as one area to watch, thanks to the growing number of airlines flying into and out of its airport.

Mike Raybone
Chartered Marketer and emarketing specialist

Join the Mortgage Brain Linkedin group… click here