i've heard that the french mortgage rate is a lot lower than ours. As we're all "EU" memebers, can i get a french mortgage for a uk property ?
2006-08-08 20:35:25 · 4 answers · asked by stdaveuk 3 in Business & Finance ➔ Personal Finance
You might be able to if you also owned a property in France (ie if your UK house was a holiday house). The financial regulations of each country differ, and therefore financial institutions have to be registered in that particular country in order to offer certain financial services. The issue with a mortgage, for example, is that if a French bank lent to you, they wouldn't be able to repossess a UK house in the event of non-payment. If the mortgage was guaranteed on a french property, of course, there wouldn't be a problem.
2006-08-08 20:45:45 · answer #1 · answered by Graham I 6 · 4⤊ 1⤋
The mortgage rate is based on the base rate that is inherent to the country that you're in. And in the UK, it keeps on going up. However, let me know if you find out otherwise, getting round it like that would otherwise be genius!
2006-08-09 03:40:37 · answer #2 · answered by Bapboy 4 · 0⤊ 0⤋
No, as you're not in France.You pay British mortgage rates as you are in Britain.
2006-08-09 03:39:44 · answer #3 · answered by genghis41f 6 · 0⤊ 0⤋
Your second home can be bought in england by cash from a french mortage tied to a french home.
2006-08-09 03:58:38 · answer #4 · answered by j_emmans 6 · 0⤊ 0⤋