French real estate mortgage loan insurance becomes cancellable

esrea france

French real estate owners and future buyers will want to take note that as of June 1st 2022 in real estate credit borrowers will be able to cancel their insurance and replace it with another provider at any time and not only on the anniversary date of the loan according to this article in Le Figaro (Article is in French you can translate in your browser)

At this time this new change is only for new contracts, as specified in the new law of February 28 . For insurance on loans already underway, you will have to wait till September 1st 2022. The objective of this new rule is to allow French property owners or future owners to look for better credit rates, in an insurance market that is according to LeFigaro 88% dominated by banks.

Continue reading “French real estate mortgage loan insurance becomes cancellable”

Financing considerations for a French real estate purchase

 

esrea france

Financing considerations for a French real estate purchase

  • The total amount of money you have available to purchase a property.
  • If you buy with a mortgage, how much of a deposit will you need (this will usually be at least 20%)? Check with your bank to be sure.
  • How much will the repayments be, and how will the repayments be made?
  • The possibility of re-mortgaging your any current property to release equity for the French real estate purchase.
  • The additional costs that come with buying French property (i.e. taxes and fees)
  • The cost of maintaining the French property and spending time there, that is your return on investment.
  • Your maximum purchase price, taking all of the above into account.

Talk to your French real estate agent and loan manager to get more information to assist you.

Continue reading “Financing considerations for a French real estate purchase”

Warning about New French real estate Energy Efficiency Errors

esrea france

French real estate comes with a diagnostics on energy efficiency which was always important and is now even more important due to increasing energy costs.

Unfortunately, according to a study cited in LeFigaro here the professional technicians hired to assess energy efficiencies of homes are making a lot of errors, not all technicians but some and the errors are important.

The research show that the same property gets rated differently by two different diagnoticians.

Make sure you do ask your notary or another professional to help you confirm the energy efficiency of a French property you are considering buying to make sure the assessment was done correctly to avoid disappointment.

Help yourself avoid other surprise and take less risks and learn more about French real estate with our French real estate buyer’s guide

Translate the Lefigaro article in English via your browser to learn all the details.

Before you request the free ebook below read what people are saying about ESREA France – some examples:

Cynthia Sadler wrote ” I am so grateful to you for your help, and I have already spoken to friends who are planning to retire in France after their children graduate from college in 5 or 6 years, letting them know about the wonderful support that ESREA France will be able to provide when they start looking for a house to buy. You can be sure that I’ll be referring other friends who are thinking about relocation possibilities to you as I learn of that interest!I”  

Tanya Coletz wrote “I can’t recommend David enough, such a refreshing experience after months of trying to find suitable professionals myself he managed to find English speaking, qualified and responsive recommendations immediately. He also responded to my emails on a French holiday and followed through on every promise at a very reasonable price. I’m very grateful for his help and highly recommend his professional service”

Below you can get your free introduction ebook about French real estate mistakes to avoid

Get your FREE copy today

Request below via the sign up form. Just scroll down, add your email and click Subscribe

This request also entitles you to our biweekly ezine and you can unsubscribe anytime.

Free eGuide 10 Mistakes to Avoid when Buying French property

* indicates required



Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.