108% Mortgages For French Leasebacks

French mortgage specialist, Athenamortgages.com, expects the number of sales of French leaseback properties to boom following the

announcement by jordan shoes for women several French

lenders yesterday that they will be offering 100% of the price of the property and 100% of the stamp duty and taxes, which can be

up to 8% of the property value. The number of French leaseback sales from top developers is predicted to soar within weeks.

Mortgages are now available on a new build French leaseback for 104% on both a repayment basis, from 2.6%, and interest-only basis

from 3%. French banks will finance up to 108% for a renovated leaseback at the same rates. Some banks have increased the amount

they will lend by 15% on certain French leaseback developments.

Interest in French leaseback property has been strong over the first six months of the year with many French leaseback developments

selling out jordan shoes 2010 in record time. The number of

clients searching for French leaseback mortgages increased by over 50% in the first half of 2010 compared to the second half of

2009. The jordan shoes shop number of new enquiries for

mortgages for French leasebacks has remained stable in the past quarter with the number of people progressing their application

increasing jordan shoes store sharply in the last week

since the Budget announcement.

UK investors have sometimes struggled to secure units in the face of strong competition for apartments from their French

counterparts who have discount jordan shoes the added

incentive of the Loi Scellier, a tax break from the French government that allows a portion of the value of the property to be

offset against income tax liability.

John Busby, director, specialist French mortgage broker, Athenamortgages.com, comments:

¡°This is fantastic news for investors looking to buy a French leaseback. Not only are interest rates at historic lows and likely

to remain so wholesale jordan shoes for some time, this

higher level of loan to value means there is very little money to transfer to France to complete the purchase. With the pound now

at a 19-month high against the Euro and set to improve further, conditions have never been better.¡±

¡°This is an unprecedented move that reflects the confidence of the French banks in the security of the investment and the

developers. When you jordan shoes for cheap look at the

return on investment for investors who have put very little money into a property purchase, even with minimal growth, the returns

are impressive.¡±

¡°Developers I have spoken to expect demand for their leaseback properties to increase dramatically over the next few weeks as news

of these finance products gets out. With a limited number of these finance deals available on some developments and the high levels

of interest from French investors,investors will have to complete their mortgage applications quickly to avoid missing out either

on the property or the mortgage.¡± mln