Over the past month many French lenders have lowered interest rates, meaning mortgages are now available from just 1.79% for foreign investors. France has always proven a popular destination amongst UK investors due to its close proximity to the UK. This is therefore great news for people who either currently own a French property, as it provides an opportunity for them to save money by remortgaging, or those thinking about buying a property in France, as they stand to spend a lot less on financing their investment.

Unlike much of the world the Indian property market has proven quite buoyant in recent times with popular destinations such as Mumbai, New Delhi, Bangalore and Goa leading the way. Off the back of this property boom an Indian bank is now prepared to offer property funding up to 85% loan to value for non-resident Indians or people of Indian origin. A move that we believe will prove very popular with Indian investors who reside in the UK.

We noticed the first knock on effects of the sovereign debt issue this month, as many Greek lenders are now starting to tighten their criteria and restrict the amount of funding available. This has meant many foreign investors are now struggling to find a lender who will fund their Greek property, as evidenced by this months 60% increase in mortgage enquires that we have received for Greece.

Overseas Mortgage Finder have been setting up a new life and protection service which as of this month we are now offering for free to all our clients. If this service is of interest to you please contact us 01708 676128 and ask to speak to Shaun Barnard.

Despite rate reductions in France and Canada this month, our position remains that property investors should take advantage of the current low rates of borrowing while they can. Although interest rates on a global scale are quite stagnant at present, we believe interest rate rises look likely over the short to medium term. More information on our products can be found on our website www.overseasmortgagefinder.co.uk or alternatively if you would like a free mortgage consultation with one our advisers please call us on 01708 676128.