Jacqueline Moore – Sunday Times Article
October 6th, 2014
Our very own Jacqueline Moore made front page of the Sunday Times recently with an article on her family’s decision to invest in a property in Europe – more specifically the French Alps. It comes at a great time with record low mortgage rates, big discounts in Europe along with the strengthening pound.
The text reads:
“Overseas property hunters are rushing to take advantage of record low mortgage rates and big discount Europe, as well as a strengthening pound. Sterling recovered following last weeks “no” vote in Scotland, taking it to €1.27 on Friday, up from a low of about €1.15 last year. It means the cost of a €250,000 property has fallen £20,541 in sterling terms compared with last year. Property buyers are also benefitting from record-low interest rates following the European Central Bank’s rate cut this month. The overseas mortgage specialist International Private Finance (IPF) said rates in France are at a record low following sharp cuts the lenders BNP Paribas and Crédit Foncier. Rates in other parts of Europe, including Spain and Italy, are at their lowest since the 2008 crisis. Kate Everet-Allen at the estate agent Knight Frank said: “Unlike in Britain and the US where stimulus measures are being withdrawn as housing markets gain traction, the European Central Bank is taking more steps to stimulate activity. This suggests interest rates across the eurozone will remain at historical lows for some time, allowing buyers of second homes to take advantage of competitive rates.”
Jacqueline Moore and Neil McGill are taking advantage of the low interest rates on continental mortgages to snap up a property in Morzine, Porte du Soleil. Moore, a Chartered Financial Planner, and McGill, an anaesthetist, used the broker International Private Finance to secure finance on the French chalet.”