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Own a £1m home in France - for nothing
I found this morning an interesting article related to the former CEO of Inside Track:
http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=463289&in_page_id=56&ct=5

new-build-parisHe is planning to develop with his partners a luxurious development in the Languedoc with a French Leaseback scheme. When you read the article you really wonder if it is possible to buy a £1M property in France with no deposit!
When you look at the real figures for a French leaseback, the property usually have a yield of 5%. You will also notice that the VAT back (19.6% of the purchase price) is not enough to cover the cost of the interest only mortgage (you can do up to 100% LTV but there will be a monthly shortfall). If a company tell you can buy with no deposit and no mortgage shortfall then double check their figures with a property expert.

Usually we advice to our customers who do not want to have a monthly shortfall to bring 30% deposit. Sometimes the developer advance the VAT and the money you need to bring at the beginning to cover the mortgage and transaction fees can be lower. We can not make a general rule for the amount of deposit needed because it is more a case by case basis, that's why we use advance financial simulations with the help of a mortgage broker to be as precise as possible with each investor.

Nowadays the French leaseback is a very good investment opportunity if you follow some basic rules like selecting a good management company (the one who will pay you the rent), a good location and obviously a good yield. There are currently several investment opportunities with yield above 5% and when you think about the interests you will get from your saving accounts in 2009 and 2010 it is wise to look at new opportunities because you will not only get a 5% yield but also benefit from the capital gain on a 10-20 years basis.

For more information about French leaseback scheme you can visit this page.

Posted by Matthieu Cany on 05 Jan 09 10:44 | Permanent link | Comments (0)
Christmas markets in France

France is known for its wonderful markets, but one of the best times of year to visit is during the Santa season. There are several Christmas markets throughout France, with wonderful handcrafted ornaments, gifts and food items.

christmas-market-strasbourgEvery year, when Christmas comes, Strasbourg, in Alsace, enlightens. Lights sparkle throughout the city and the atmosphere is one of meeting friends and sharing the festive spirit. Mulled wine is sampled in front of the opera or the cathedral, arms are laden with hundreds of gifts and children are the centre of the celebrations. Strasbourg is seen as the undisputed capital of Christmas the world over. This year, with the French presidency of the European Union, Christmas is of course taking on a specific shape. Fifteen countries from the Union will form a craftsman’s village in Place Gutenberg, just a few metres from the “Noël du livre” (Literary Christmas) event. At this time the city also shows its true face: that of a city that is both anchored in tradition, with a Christmas Market that is almost five centuries old, and a modern city capable of offering a wealth of activities, partly due to its concentrated network of associations; concerts, events for children and adults, guided tours, exhibitions, sporting or cultural events, etc.

Paris also features several Christmas markets, with most starting sometime between late November and early December. There, you can get an original taste of the City of Light in the Santa season. The Christmassy atmosphere is just wonderful in this city!

In the South of France, the city of Aubagne organises a “clay Christmas” as the speciality of the city is the “santon”, understand Christmas crib figure. It is open from the 21 Novembre to the 31 Decembre. There, you will find poteries, decoration items, jewels and... Christmas crib figures! Everything for a warm and very Christmassy Christmas! With sweets, colours, music, lights and mulled wine. Probably only the snow will be missing…

 

Posted by Matthieu Cany on 19 Dec 08 16:31 | Permanent link | Comments (0)
More and more brits are looking to move abroad

As many as 500,000 Brits could be leaving the UK to become expats by the end of 2009 reports Axa, one of the world's biggest insurers. It is difficult to use forecast figures as a barometer of intent to be fair, but there is no doubt that the trend for moving abroad is increasing.

passportIn 2006, official figures from the Office of National Statistics showed that 400,000 people emigrated from the UK, and by the end of last year, Axa had seen an 11.7 per cent rise in the number of inquiries for international private medical insurance, and a 28.6 per cent increase in inquiries from those looking to relocate elsewhere in Europe.

It is on the basis of the continued rise in inquiries in the first half of this year - up 15 per cent again on the same period last year - that Axa has calculated its figures.

It points out that 500,000 people is equivalent to the entire population of Leeds, and there is good reason to think that the number of people moving overseas is accelerating.

YouGov figures, for example, suggest that one in three of us is considering a move abroad to improve his or her financial position.

Retirees can live an equivalent lifestyle in France for about a third of the cost of the UK, thanks to lower taxes and cheaper food and energy bills. Now that there is also a relaxation of rules on access to healthcare for non-French residents in France, the appeal is growing even more.
Axa said inquiries for France more than doubled for the first half of this year - an indication of its rising appeal.

 

Posted by Brice Bonato on 12 Dec 08 10:46 | Permanent link | Comments (0)
Great price reduction on a French property in Languedoc
11403The lovely stone house set in 0.5 acre of garden near Narbonne (Aude departement, 11) is now a lot cheaper than it was when it first appeared on the market. Its price has been reduced from €245,000 to €196,100.

This property is referenced under the no. 11403 on our website. It is a character stone house, set in a peaceful area, isolated from any disturbance and neighbours, but still close to the village and its amenities.

It comes with a swimming pool and a terrace. Most of the 150m2 living space are ready to move in, other parts will need only light refurbishment work. Its typical French features will charm you: fireplace, tile floor and wooden floor. Whats’ more, the property has its own water source, making it self-sufficient!

It is all you need to spend lovely holidays in Southern France and live the French way!

For more information about this property and its area, please visit those pages: Aude and Languedoc
Posted by Remi Chretien on 10 Dec 08 11:12 | Permanent link | Comments (0)