French Real Estate Mortgage Insurance Now Renegotiable

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When you have a French mortgage you get mortgage insurance and this mortgage insurance can be something you wish to negotiate. Up until recent change was not an option. Now it is official, the French Constitutional Council agrees that right of annual cancellation of all insurance policies by a borrower is in accordance with the law contrary to an appeal by the French banking federation.

As of Friday, January 12, 2018 the decision of the council allows individuals to apply to change their insurance on the mortgage on the anniversary date of the insurance. Note: make sure you confirm these details with your bank and prepare ahead of time.

As quoted in French in Explorimo and translated “all loan insurance contracts, including old ones, can be terminated on the anniversary date and replaced by another, provided that the guarantees are equivalent to the bank’s acceptance of this new contract.

This can offer significant savings to loan holders if the new insurance is at a lower cost per month.

Contact your English speaking French mortgage broker for more details. If you need assistance in locating a English speaking French mortgage broker we can help you connect at no charge for our assistance to you. Contact us here

French Real Estate 2017 a year of records

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Did you know that despite the increase in French mortgage rates conditions remained very good for French real estate buyers in 2017?

According to this article in French on Empruntis French mortgage rates stayed below 2% for all periods combined (minimum rate and average rates excluding 30 years) and this supported French real estate purchases.

The total number of French real estate transactions reached a record of 986,000 sales!

However, this increase in sales has also lead to a rise on average of 5 percent in prices which reduces the purchasing capacity of French real estate buyers particularly in the big cities.

Yet opportunities are still here as rates are still very attractive. If you would like us to connect you with an English speaking French mortgage broker or English speaking French agent contact us here and we will connect you at no charge for our assistance.

French Real Estate and President Macrons New Tax Reforms

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President Macrons French Tax Reforms Are they better for your French real estate?

French taxes are impacted by the decision of the new French president and his government with the goal of reducing the tax burden for French residents.

Apparently according to the article by Blevins Franks the French government will have a tax revenue reduction from 5 billion to 1.8 billion euros due to these cuts.

The new tax rules if approved with create a flat tax rate on Investment Income. Plus they will also impact how much wealth tax and social charges you pay.

Learn about the details in this article

If you would like to connect with a French real estate tax expert we can help you connect just contact us here.

8 Signs French Real Estate is Negotiable on Price

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8 Signs French Real Estate is Negotiable on Price

When you are buying French real estate you can often negotiate on the price when you find one of the following exist:

One
French real estate: Length of time on the market
If French real estate is priced correctly it will often sell quickly so if the French real estate is still for sale after 3 months, the price must be too high so start negotiating.

Two
French real estate: Overpriced compared to similar properties
If French real estate you are visiting is overpriced compared to other French properties show the owner the similar properties at lower prices and start negotiating.

Three
French real estate: Located in a noisy area (like close to an airport)
A French property that is located in a noisy area will be less desirable so if you can handle the noise start negotiating on price. Remember buying a property in a noisy area will be challenging to sell in the future.

Four
French real estate: Undesirable features
If you view an apartment that in on the ground floor and not very well lit you most likely can negotiate on the price. If the apartment is on a high floor and there is no elevator you can start to negotiate on the price.

Five
French real estate: Poor floor
If you find French real estate that generally speaking has a poor floor plan like steps up and down into a room or bedrooms with access through another bedroom etc you can work on negotiating on the price since most people will consider these features undesirable.

Six
French real estate: Overlooked
If your French real estate has little privacy due to the view from other properties looking into your property you can work on negotiating on price since an overlooked property is often not desirable.

Seven
French real estate: Need of renovation
If the French property real needs to be renovated you can see if you can negotiate on price. Make sure you have details on the cost of the work to be done so you can justify your reasons to beat the price down.

Eight
French real estate: Energy inefficient
If the French property is not properly insulated and needs work to make it more energy efficient you can most likely negotiate on price.

With all these items noted to achieve your goal of lowering the price via negotiation it is important an important fact you must know how to negotiate. This is an important part of the work of an English speaking French real estate agent. You pay a fee to an agent because they can, for example, negotiate a purchase price you desire.

If you would like to connect with an English speaking French real estate agent in your area of choice in France we can connect you at no charge. Contact us here.