Mortgages rates hit historic lows in France

Individuals looking to buy property in France may be interested to learn that the cost of borrowing in the country is now at its lowest level since the Second World War.

Average rates fell to as low as 3.3 per cent during October as a result of low government debt, industry group Athena Mortgages claimed.

In its latest outlook report the company pointed out that recent figures show that transaction numbers are also increasing in France which is having a knock-on effect on house prices in the country.

"Quite simply, the cost of borrowing money in France has never been this cheap or secure for such a large number of people before," John Busby, director of Athena, said.

"The euro may be strong now, but the fact that you can access near 100 per cent funding means that it does not matter what the exchange rate is. The long term value of low rates, combined with low property prices, far outweighs any currency considerations."

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