1. Interest only mortgages with variable rates starting from 3.15%
2. Rates starting from 2.20% for equity release and re-mortgage
3. Rates fixed for the entire term starting from 3.15%*
4. Some French products are capped at 1% above the initial rate, to give you more security
5. 100% LTV French mortgages with capped rates starting from 3.50%** .

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* Over a short term of 6 years on a repayment basis, for a loan of or above €230,000

** You would only be expected to pay the Notaire fees and the estate agent’s fees. Available only for properties of over €300,000

*** Higher rates may be applicable for longer terms and different loan amounts

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For more details regarding French mortgages, you can have a look at our website dedicated to French mortgages: http://www.sextantmortgages.com
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If you would like to receive a free quote with no obligation, contact our in-house mortgage consultants by telephone: 0207 428 4918 or by email: mortgages@sextantproperties.com
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There are to start with a number of cases where an architect is compulsory.

First of all, in the case of works requiring planning permission (a ‘permis de construire’), an architect must be appointed. These include in particular the creation of apertures on external walls, the creation of a loft area of over 20 m2 of habitable surface… In addition, an architect is also compulsory in the case of works for the construction or extension of a property exceeding 170 m² of net habitation surface, when a private individual initiates such works. The same rule applies if the habitable surface of the dwelling is less than 170 m² if the consequence of the works envisaged would be to increase such surface to over 170 m². This 170 m² rule does not apply to works ordered by a corporate body.

In the case of a collective building it is always recommended to consult with the Syndic and this is compulsory if the works have any impact on common areas. In that case, the works will need to be authorised by the general meeting of co-owners. It is also essential to check the co-owners regulations (‘réglement de copropriété’) as they usually contain provisions on the procedure to be followed depending on the type of works involved. The Syndic may wish to impose an architect that they usually use and the ultimate architect chosen will be a matter of negotiation with them. In most cases (except emergency situations) the choice of an architect will require the approval of the general meeting of co-owners under a procedure of call for tenders.

On the opportunity of using the services of an architect, which may be a fairly costly exercise, certain works will not necessarily, as a matter of course, call for the recourse of an architect such as for the renovation of heating installation or the upgrading of a lift installation to current norms. For such works, a ‘bureau d’etudes’ or even the Town Hall (‘Mairie’), in particular with town planning issues, may be able to assist.

There is also a grey area where a mere declaration of works, as opposed to an actual planning permission, is required. In theory, the recourse to an architect for such works is not compulsory. However, it may be advisable in some cases to have one on board, in particular if the consent of the ‘Architecte des Bâtiments de France’ (“ABF”) is required, e.g. for listed buildings or for buildings situated within 500 meters of a historical monument. (e.g. a church) if the works planned affect the external appearance of the building. Again, the architect can help in smoothing out difficulties and finding solutions acceptable by the ABF.

The architect has a duty of information towards you, which extends to the legal, administrative and financial implications of the works which you intend to carry out. His proposals must be compliant with the rights of third parties, but only provided that you have informed him of the same. Information on this will often be contained in the title deed of your property (such as the existence of a right of way, a right of view etc). According to relevant case law, the architect has the duty to inform his client of any increase in the cost of the works compared with the initial quote, and must make enquiries on the client’s financial resources to assess the financial soundness of the enterprise. It is to be noted that the law does not regulate architect’s fees and as a rule, one should obtain a written proposal from the architect on the subject of his fees. A remuneration of between 8% and 12% of the cost of works is not infrequent.

Hervé Blatry Avocat
Stanley Tee LLP TEE FRANCE Ligne directe 01279 710621 Email heb@stanleytee.co.uk

Indeed it was, but investors are far from convinced that there will be a repeat of that performance any time soon. In fact they are convinced that the second quarter GDP figure will be a watershed. From here on in, Things Can Only Get Worse. It’s the Austerity Budget wot done it; that’s the view on the street. Spending cuts will hit every sector of the economy. Fewer consultants will be hired. Fewer policemen will fill in forms. Fewer speed cameras will collect revenue. Fewer pot plants will be bought or rented to grace departmental desks. The list goes on. It will mean less spending by the country as a whole and an erosion of GDP. Some say it will mean a return to recession, the dreaded double-dip.

That gloomy outlook has cast a shadow over what would otherwise have been a good run for the pound. After all, it is not as if the euro zone is without its problems. Those problems have not been in the headlines exactly, since the Greeks stopped blowing up banks and blocking the country’s borders a couple of months ago, but they have not gone away. Three months ago the EU trumpeted the creation of a Europe-wide financial safety net that would protect Greece (and others) from bankruptcy. German taxpayers did not like it one little bit at the time but Frau Merkel gave them their marching orders and they paid up to salvage the euro. Since then the rebellion has spread. Spain is considering relaxing its own austerity regimen in order to stimulate the economy. Slovakia has said to the EU that it ‘Can’t pay, won’t pay’ to support a country (Greece) that has chosen to blow its inheritance. The latest inequity is the downgrade of Ireland’s credit rating. Because of it, Ireland will have to pay some 5.25% interest on 10 year government debt. At the same time, through the EU, Ireland will be paying to hold down the Greek government’s cost of borrowing at 5%. Some say it is not fair that the prudent subsidise the spendthrift. Whether these cracks ever result in irreparable damage to the euro is up for grabs. Most analysts say they will not but the risk remains.

So we have the fiscally-responsible British government committing the country to a century-long depression and the fiscally-irresponsible southern European states condemning the euro to a sovereign debt implosion. The euro and the pound are both obviously doomed. Obviously not, but from investors’ point of view the risks are more or less evenly balanced at the moment. Sterling was the winner in August, adding a cent and a half , but it has been finding it tough going above €1.22. Given the uncertainty, there is no reason not to manage one’s exposure to sterling/euro with the traditional hedge, fixing a price today for half the currency needed in the future. The argument applies to buyers of the pound and buyers of the euro alike.

You can view the latest update here: French Rural Property index.

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* You would only be expected to pay the Notaire fees and the estate agent’s fees. Available only for properties of over €300,000
** Over a short term of 6 years on a repayment basis, for a loan of or above €230,000
***Higher rates may be applicable for longer terms and different loan amounts
.
For more details regarding French mortgages, you can have a look at our website dedicated to French mortgages: http://www.sextantmortgages.com
.
If you would like to receive a free quote with no obligation, contact our in-house mortgage consultants by telephone: 0207 428 4918 or by email: mortgages@sextantproperties.com
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France is by far the biggest beneficiary of the Common Agricultural Policy, receiving about $54 billion a year, but the revenues are unequally distributed. As large exploitations receive huge amounts of money, further encouraging the use intensive agricultural techniques, smallholding farmers’ situation is getting tougher and tougher. Indeed, thanks to industrial techniques, the productivity goes up and fewer farmers are required to produce the same quantity of food. Some farms can afford to lower their prices thanks to their massive production and the subsidies they get, but smaller farms can’t compete against the ever-lower prices.

However, these small declining businesses are now finding other ways to make ends meet, often in both their interest and the tourists’. Some farmers choose to diversify their activity and produce traditional quality products such as cheese and beer, and see their income grow. Others decide to operate more radical change and go from growing cereals to breeding horses, or opening a Bed and Breakfast in the French countryside for example. By going for these alternative solutions, farmers manage to recover from their economical situation and ensure the survival of rural France. It is now possible to enjoy the charm of authentic, rural landscapes by sleeping in an isolated French gite, or by buying a guesthouse in France, and running your own!

Source: Time Magazine