French mortgage broker offers 100% mortgages at 4%

13 October 2009

Athena Mortgages, a Paris and London based French mortgage broker, has added stimulus to the growing interest in French property by offering an exclusive new 100% mortgage product.

“Whilst there are many banks offering 100% mortgages for leaseback French properties, effectively this is one of the only products on the market for a second home at 100% loan to value” says John Busby, Director of Athena Mortgages. “The rate for this loan is excellent for all property purchases as the cap means the rate will not go any higher than 5% and can go as low as 3% if rates fall.

The latest from France indicate that interest in the French property market continued to grow last month, in line with positive macro-economic news.
In mid-August, France emerged as the first of the EU nations to exit recession, showing growth of 0.3%. During August, property prices across France as a whole fell back slightly (-1.2%) according to data from French estate agency body, FNAIM, although there were naturally regional and area-specific variations, making for interesting negotiating conditions.

Average prices, despite recent rises in some areas, are still significantly discounted relative to 18 months ago, and are one of the key drivers of interest from would be bottom-fishers.

See Also:   Athena Mortgages, France, Mortgage