Author: The ESREA France Team

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What is the Loi Hamon and how does it relate to French Mortgage Insurance?

Named after the French minister Benoit Hamon, the focus of this law is to protect the French consumer.

One of the key elements of this new law is that the consumer now has the opportunity to cancel the mortgage insurance they obtained from their bank and replace it with a less expensive but equivalent type of mortgage insurance within the first year of the signing of the mortgage. Make sure you check all details with your bank to verify what is possible.

A great way for you to keep up to date on the French mortgage market is to be in touch with an English speaking French mortgage broker. If you would like  assistance to find an English speaking French mortgage broker contact us today.

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What does the French banking term OAT mean?

French Treasury bonds ‘Les Obligations Assimilables du Tresor are known by their acronym OAT.

According to our research, these French government bonds are issued for a period of minimum 5 years and maximum of 50 years. This type of credit is credit of the French state and therefore the bonds are a debt of the French State and guaranteed by the French state. Learn more in French here.

NEWS: Have you seen our French real estate buyer’s guide that comes with a 100 percent money back guarantee? Here it is

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Are French Mortgage Rates Still Attractive?

If you are interested in buying French property you know one of the key elements related to your purchasing power is the French mortgage interest rates.

The good news is that the French mortgage rates are still low but it many not remain this way for long.

According to the latest report from the French mortgage broker EMPRUNTIS the average French mortgage interest rates increased very slightly by 0.05 percent.

According to EMPRUNTIS the average rate for a 15 year French mortgage is now 3.15 percent.

Read the original article in French here

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How much is the increase in French notary fees?

French real estate just went up in price without the price changing.

As of the 1st of March 2014, in the majority of French departments, the legal fees paid by the buyer of a French property increase approximately 1 percent.

This one percent increase is a result of the increase in French government transfer duties and the increase in the French VAT called TVA.

Overall, as of March 1st 2014 French notary fees are 8 to 9 percent of the purchase price of the property.

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The Secret French Real Estate Investors Market The Parking Place

If you want to invest in French real estate but you do not have a lot of money to start with you still have an opportunity. Invest in French parking, you purchase the title of a garage or a parking space in a building in an area where there is rental demand and you can find yourself with a good investment.

According to an article in the French site  Explorimmo today return on investment for a garage can be between 5 and 6 percent which is higher than on regular housing.

A quick search today (2014) on the French property site Seloger.com shows garages in Cannes priced from 18 000 euros to 80 000 euros.

In Monaco, there are no garages for sale today. If you have one to sell in Monaco you have most likely a guaranteed sale or renting opportunity. In Paris today there are parking spaces in underground parking for sale for 7200 Euros. Then prices step by step go to a double parking closed garage in the 16 district in Paris for 183 000 Euros.

Today you can contact us to help you find an English speaking French real estate agent in your investment area of choice.

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