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FrançaisHi,
This is probably an easy one. Am I correct to think that because the Euribor rate has gone down then this will bring down that my mortgage rate when it is recalculated in November.? my mortgage is with Barclays / barifimmo and varies according to the Euribor rate.
Dear Trimigistus,
Indeed in November your monthly repayments will be lower. However, it is a good time now to fix your rate. The Euribor has gone down in the last few months but it will increase soon. Moreover French banks are now offering very competitive fixed rates.
If you have any question about refinancing your mortgage, feel free to contact me.
Best regards,
Mathilde
A Mortgages40018.3872685185Hi Mathilde,
Thank you for your reply, I have calculated that my mortgage rate would be 2.34% according to the current Euribor rate. This would seem to me to be a good rate and I expect it to be similar in November when my rate is recalculated. What are the fixed rates you know about.?
Hi Tri,
There are many different types of mortgages with a fixed rate. The rate will depend on many factors :term, the loan to value, interest only or repayment...
In order to give you a precise idea of the current fixed rate that you can have at he moment, I need to know what type of mortgage do you want.
Could you please email me your contact details so that we can discuss your financial situation, the type of mortgage you want and what we can currently offer you?
Many thanks
Mathilde, mathilde@athenamortgages.com
I wonder how any French bank could possibly approve any mortgage for this 'leaseback' model. Wouldn't their risk management department spot that the a large percentage of the lessees are unable to or refuse pay any rent and that their behaviour ranges from the morally dubious to the fraudulent.
Hi Ognip, your statement seems obvious in today's climate. In the gold old days the banks were certainly led on by the selling agents with promises of wealthy clients. Their responsibility is not diminished and in my case it seems thay did act fraudulently. The case is being looked into and now the laywers get wealthy.
Dear Ognip,
It depends on which management company you choose. Indeed the banks will lend according to the management company. With Pierre et Vacances you can have a 100%mortgage with any single bank, because it is the Number 1 property developper in France.
As a French broker I can get you a 100% mortgage.
If you have any other question please let me know.
Best Regards,
Mathilde
Sorry Mathilde, I have to disagree with you on this, I work with many French banks and no one is lending 100% loan, maybe 100% with 20% into a bond.
Anthony
Hi Antony,
With your experience of french banks. Do you know what steps they will take to repossess leaseback apartments which have become too much of a burden for the owner? Is it the same in this country, reposession,then auction. If there is not sufficient funds from the auction, is there a possibility they can seek funds from Britain/ Ireland. Say Barclays for example?
Hi Anthony,
A lot of French banks can lend up to 100% of the excl VAT price. As for leaseback the VAT is not paid by the client, we can consider that French banks can finance 100% of the purchase price.
Mathilde