The French mortgage market is experiencing a tightening of bank policy towards accepting clients in some sectors because the economy has slowed but current currency rates are good news for British buyers.
Leading French loan broker Athena Mortgages said that attitudes amongst many of the banks have now changed and there is more caution about lending in particular to self employed people.
"The past 18 months have been uncertain times in which the economy has slowed considerably. This has meant a reduction in gross profit for many self employed borrowers during 2008/09. The reduction when taken in context with other years of business may seem reasonable given the economic context. However, we have seen several borderline applications refused due to significant reduction in net revenues over the past month," explained director John Busby.
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