Adrian, a financial planner from Southport, Lancashire, adores the location and would not dream of selling. ‘We didn’t buy it as an investment. But a lot of people are selling up. Interestingly many are selling to Australians as the exchange rate is good for them,’ he says. The couple bought the property with a mortgage from the then Abbey National, but after it was taken over by Santander the loan was sold to a French bank, LCL. Adrian says: ‘It meant we had an extra cost as we had to transfer our mortgage repayments from the UK through Moneycorp to the bank. It added about an extra £20 a month.’ Setting up a French bank account was easy, however, although Adrian says things are tightening up and he warns would-be owners that French banks are hard to deal with. He says: ‘The charges are far higher than in the UK and you need to keep a healthy bank balance, because if you accidentally go overdrawn, they will close your account and prohibit you from having a bank account in France for years.’ Adrian adds: ‘I think unless you intend to retire to France it might make more sense to just rent in your favourite place for a couple of months a year.’ Read more: thisismoney.co.uk/money/mortgageshome/article-2396245/Continental-price-falls-dream-house-reach--idyllic-deal-seems.html#ixzz2jWe4C99i Follow us: @MailOnline on Twitter | DailyMail on Facebook
Posted on: Sat, 02 Nov 2013 21:20:57 +0000
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