The cost of moving to France hits an all time low
France is often on the list of popular and desirable destinations for expats moving to Europe, and for very good reasons. The slightly slower pace of life, world-renowned culture and favourable weather are all popular reasons for expats considering moving to France, not to mention that fact that it’s within easy reach of the UK, making it easy for visiting family and friends. Alongside all of this, moving to France is about to get a lot cheaper as mortgage rates reach a new low.
It has been revealed that British expats can now secure a rate of 3.1% on a 20-year repayment mortgage with a 20% deposit from French bank Caisse D’Epargne. John Busby, director of French Private Finance, comments that: “These are now officially the lowest rates we have seen for French mortgages this century or last.”
It is thought that the reduction is due to rate cuts put in place by the European Central Bank. Mortgage rates are also influenced by investors that have recently been buying government bonds, which reduce the interest rate on the government’s debt and has the knock-on effect on consumer rates. It is expected that France may take the example set by Britain and America and order quantitative easing in order to stimulate the economy and lower borrowing costs even further.
In August it was revealed that France has some of the best healthcare in the world for expats moving to France, according to a report by the International Living Magazine. The report took into consideration various aspects of the average healthcare coverage, including the number of patients per doctor, number of beds per 1,000 people and public health expenditure (as a ratio to the country’s GDP).
If you’re moving to France, find out how our international removals team can help to arrange packing, storage and transportation on your behalf.
Information correct at time of publication