Expatriates in France to benefit from cheaper euro mortgage rates

Expatriates in France are set to benefit from a further fall in the European Central Bank’s interest rate.

French house for sale sign
Long-term fixed-rate euro mortgages in France to buy a new home or releasing equity have decreased to reflect the Euribor (Euro Interbank Offered Rate), the European Central Bank reference rate.According to specialist expatriate financial services broker Offshoreonline.org, fixed-rate euro mortgage loans for periods of 15 years or more have dropped by 0.1 per cent and are now available from 3.40 per cent. Shorter term fixed-rate euro mortgages are available from 1.80 per cent, it notes.Commenting that buyers in France have traditionally enjoyed a far wider range of mortgage options, Guy Stephenson, a spokesperson for Offshoreonline.org, said:“Expat mortgage clients in France have a far wider choice of product than buyers in the UK – long- and short-term fixed rates, capped rates and traditional variable rate loans are all available with deposits from just 15 per cent, compared to the minimum of 25 per cent required for an expat mortgage in the UK.”Furthermore, with the pound continuing to trade at higher levels against the euro, buyers are further benefiting, says the UK regulated broker.