Three BIG changes in French real estate 2016
As of July 1st 2016 buyers of French real estate will have the benefit of several new changes including:
One
New Banking Rules
The implementation of an order of March 25 2016 will take place that will amend provisions in mortgages to enhance consumer protection.
A main feature will be a standardized pre-contractual document that will make it easier for individuals buying French real estate with the aid of a mortgage to compare different credit offers.
Learn more via English speaking French mortgage brokers
Two
Faster Internet Guarantee
Although not everyone buying French real estate is concerned about internet access part of the new Loi Macron requires all new buildings in France constructed after July 1st 2016 to be built with fiber optic internet access. Apparently, the government of France wants to bring fiber optic access to all big French cities by the year 2022. We will wait and see. This can be beneficial to students and people who work from home.
Three
Dropping Mortgage Rates again
The CSA / l’observatoire Crédit Logement in France released its latest survey of French real estate mortgage rates and the decline continues.
Mortgage Interest Rates All Combined Evolution
February 2016 2.09 percent
March 2016 1.97 percent
April 2016 1.81 percent
May 2016 1.77 percent
June 2016 1.59 percent
Depending on your qualifications this can mean that the cost for you to borrow 200 000 Euros for French real estate over the term of a 20 year mortgage has gone down by approximately 16 000 Euros between January 2016 and June 2016.
Learn more via English speaking French mortgage brokers
If you are looking to connect with an English speaking French real estate agent in your area of choice go here or if you prefer contact us for direct assistance.