If you are sat in the UK dreaming of buying a property in France then the pound v euro exchange rate can make a big difference to turning those dreams into reality.
The good news is that UK buyers can currently get around 1.23 euros for each pound they spend. This is the highest level for two years - indeed, this time last year the rate was around 1.10.
This means that any would be buyers of this restaurant and rental studio on the beautiful Dordogne river would be paying in the region of £516,000 instead of £577,000 - that's a saving of over £60,000 to this time last year just through the exchange rate!
It's double good news for buyers though as three of the biggest French mortgage lenders have just cut their rates too. BNP Paribas, Credit Foncier and BPI have cut their rates for UK purchasers with the BNP Paribas variable rate now at just 3.25% and Credit Foncier offering an amazing 20 year fixed rate for 4.25%.
Of course, French banks have far tougher lending criteria than their UK cousins but we tend to view this as a good thing as it means that buyers aren't tempted to overstretch themselves.
Perhaps now could well be a good time to stop dreaming and start looking!
www.frenchwatersideproperties4sale.com
