Two Cannes buy to let properties – combined value €1.7million
0% assets under management (AUM)
1.8% over 20-year term for first property
1.6% interest-only for second property
It’s not just foreign nationals buying in France that we can help; often French locals approach us rather than our competitors in the region due to our reputation for resolving complicated cases.
A French client came to me following a recommendation from a mutual contact. He was a successful property developer with experience buying on the Riviera who I then referred to the London team.
He was purchasing two properties in central Cannes valued and €1.1million and €600,000 that he intended to use as buy-to-lets as an income generator.
Enness has recently gained access to a mortgage product which allows for no assets under management (AUM) to be placed to secure a deal. The client was keen to exploit this exceptional offer.
Buying two properties at the same time can be a complicated process. Also, the bank that he had always dealt with declined his application for finance on these two properties. He had multiple accounts with this bank and they wouldn’t allow for him to have any more. We would need to find him a new bank to work with.
Enness managed to negotiate with a Monaco-based bank a rate of 1.8% on the €1.1million property and 1.6% on the €600,000 property. This was over a term of 20 years capital repayment, and uniquely with no assets under management (AUM).
France is one of the most popular property markets for foreign nationals: we are all aware of the chic appeal of Paris, the enduring allure of the Riviera in the summer or the freshness of the mountains in winter.
Covering everything from search and negotiation to making an offer and the legal processes, the guide will help you fulfil your dream of property ownership in France.