Current European Interbank Offer Rate ( EURIBOR)

EURIBOR ( European Interbank Offer rate) is still negative hovering at -0.181 ( 12 month ) and -0.321  ( 3 month) .  Looking at the historical figures over the past 6 months at the beginning of the year , the rate was very similar at -0.186 ( 12 month) and -0.329 ( 3 month).   Source :   Euribor-rates.eu

if you are considering purchasing a  property  in France or in Spain there are the benefits of attractive interest rates being offered by French and Spanish lenders at present, to non-residents .  As rates may rise in the future there are ways to mitigate this by taking out a mortgage scheme which has limited movement, such as a fixed rate for the medium to long term or a variable rate which has a cap for an initial period or for the whole duration of the mortgage term.

Typical rates and schemes are illustrated in the table below:-

French Mortgage                         Cap +1%      Fixed rate

Interest rate                                 1.41 %                         1.92%

APRC                                           2.53%                         2.70%

Spanish Mortgage                      Fixed 2 year     Fixed rate  

Interest rate                                2.50 %                          3.10%

APRC                                           2.59 %                          3.52%

For an illustration based on your chosen mortgage amount and purchase price please refer to our mortgage calculator page for a full range of mortgage schemes:- http://www.charleshamer.co.uk/calculator.aspx  or

http://www.charleshamer.co.uk/spanishcalculator.aspx

The APRC  has been calculated taking into account estimated costs for the mortgistration fee ; the  bank arrangement fee; the cost of life assurance, and interest paid over the term of the mortgage  ,  The mortgage amount is 100 000E  and the mortgage term is 15 years,  the loan to value is 70%