French mortgage transaction of the month

French Mortgage Transaction of the month – Equity release and refinance

€ 1,190,000 an equity release in Chamonix

This loan was made to release equity to continue renovation works and to refinance a variable rate with a long term cap of +1% over 20 years with a starting rate of 3.60%. It is always necessary to buy out any existing mortgage on a property as French banks do not like to have a second charge.