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Explain in English taux fixe taux variable taux cape

When you buy a French property with a French mortgage you will need to learn some new French banking terms including: taux fixe, taux variable and taux cape. So read on for explanations:

One

Taux Fixe means fixed mortgage rate

Two

Taux Variable means variable mortgage rate

Three

Taux Capé means capped rate

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IMPORTANT: Make sure when you chose your French mortgage you find out if the mortgage has a penalty fee for early repayments, if you are being charged a fee for administration of the loan etc. Learn the right questions to ask by speaking with an English speaking French banking expert.

If you need to contact an English speaking French banker or mortgage broker. We can help put you in contact with one  click to contact us here.

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

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2013 Reform of French Capital Gains on Real Estate Property

The French government has announced the total exemption of the capital gains tax based on length of ownership on French property maybe reduced on the first of September 2013 from 30 years to 22 years. In addition, there is a new temporary special allowance of 25% for one year. (Maybe, since the concept has yet to be sworn into law)

If approved, their is an additional special rebate of 25% will apply to sales made between 1 September 2013 and 31 August 2014.

The goal of the French government with these changes in capital gains taxation is to increase activity in the French real estate market by contributing to the ability for some owners to reduce their prices since they no longer have to pay capital gains tax. The belief is that if prices are reduced French real estate sales will increase.

IMPORTANT NOTE: this government announcement needs to be made law before it is effective.

Inspired in part by by Explorimmo.com article on French capital gains

Important note date of article the law may have changed

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

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What is a Frais d’etudes or frais de dossier in French banking?

When you buy a French property with bank financing the French bank may charge you a Frais d’etudes or frais de dossier which is an administration fee to put together your file. This is not always payable but it could be and it may be a large amount so always ask your French bank for more details about the costs you will be asked to pay and get this response in writing.

If you need more information it is best to contact an English speaking French banker or mortgage broker. We can help put you in contact with one click to contact us here.

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

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

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What is the Euribor Interest Rate?

When you are buying a French property involving financing the Euribor Interest Rate will be of interest to you since French interest rates being in Euros are based on the Euribor interest rate.

The Euribor (Euro Interbank Offered Rate is a daily reference rate based on the averaged interest rates which Eurozone banks offer to lend unsecured funds to other banks.

If you need more information it is best to contact an English speaking French banker or mortgage broker. We can help put you in contact click to contact us here.

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

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

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

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What is a Pret Immobilier in a French real estate transaction?

When you go to buy a property in France and you need financing you will obtain a mortgage, in France a mortgage is called ‘Pret Immobilier’.

To obtain a ‘Pret Immobilier’ in France at this time is a complicated process and your property purchase agreement needs to allow 45 days for you to obtain your finance.

Important: confirm this timing with your French Notary and French banker.

In addition, make sure you know all you need to obtain a mortgage in France before you go shopping for a property.  Let us assist you by placing you in contact with an English speaking French banker or English speaking French Courtier. You have no obligation to work with the person. We simply want to offer you assistance to find someone who can help you in your native language. Simply go here to contact us.

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

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

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