With the £ Pound recovering this week after a big dip and the political landscape starting to calm down a little, it offers some more stability to peoples plans to find a new life abroad. We find that everybody's reasons to move to another country are so varied that we are surprised most days, and it is true that this week we have seen a rise in viewing request from our American friends! seems like France is a popular choice for those not looking for the cold Canadian climate!
Closer to home we thought we would bring together some frequently asked questions and answer them for you, some of the information below has come from our friends over at 'The France Show' which is due to take place at London Olympia from 27-29 January 2017, we recommend a visit to this the biggest 'all things French' show in the UK, if nothing else it is a great day out but also you can pick up French food products and even a property if you are feeling flush on the day!
How has Brexit affected property buyers?
The UK’s decision to leave the European Union has understandably caused concern and uncertainty among British buyers considering a property purchase in France. Yet while the exact implications of the result are still unclear at this stage, British buyers will continue to be able to buy in France and property experts have expressed confidence in the continued growth of the French property market.
Will I still be able to buy property in France?
Brits visited and bought property in France long before the UK was part of the EU, and will still be able to do so.
Buyers from non-EU countries including the USA, Australia and Chine consistently invest in French property without problems. The existing process of buying a property in France is the same for French, EU and non-EU residents.
Furthermore, British buyers are an important element of the French property market, accounting for 34% of sales in 2015, and it is unlikely that France will want to damage this by making it too difficult for Brits to buy property.
Will I still be able to get a French mortgage?
British borrowers are the largest single overseas nationality who borrow from the French retail banks so it is unlikely that French banks will introduce tougher criteria for Brits who want a French mortgage. French mortgage rates are currently at historic lows and some Brits who were cash buyers are now taking out a French mortgage as a way of mitigating the effects of volatile exchange rates.
Make a no-obligation mortgage enquiry here
Will I still be able to live in France?
As EU citizens Brits can currently live and work anywhere within the EU without having to apply for permission and this will continue until the UK officially leaves the EU. It seems unlikely that this freedom of movement will continue after the UK has left the EU but there are a large number of French people living in the UK so it seems likely that a bilateral agreement between France and the UK will be reached.
Sterling rallies on uncertainty in Europe and the USA
After weeks of turmoil, sterling has emerged as the main benefactor of uncertainty in Europe and more recently the USA, following a clear swing from the popular ruling establishment.
Risk averse markets have pushed sterling up against most major currencies.
Saturday 12th November at 10:30 £1.00 GBP = 1.16 EURO
For more information on the currency service we can provide please feel free to contact Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.
You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.
'The France Show'
Taken in part from 'The France Show' the UK’s biggest celebration of France returns to Olympia, London in January.
The France Show is back for 2017, so whether you’re looking for some travel tips, thinking of buying property in France, hoping to brush up your language skills or want to try regional food and wines, pick up some recipe inspiration or just have a great French day out, you’ll find it all at The France Show at London Olympia from 27-29 January!
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Blog submitted by: David at The French Property Network - Cle France.