Low interest rates in France are prompting many Fly to let buyers to bring forward decisions to purchase properties in the country before rates increase, reports Validus Financial Services.

The UK based French mortgage broker says people who had felt it wise to put their purchase on hold until late 2010 due to the recession have suddenly realized that now is the best time to buy if they are going to finance the purchase with a mortgage.

Obtaining a fixed rate mortgage while rates are only 3.6 percent, coupled with the opportunity to buy a property while prices remain low, is beginning to drive the French property market forward at a much faster rate than seen in the last two years.

Validus gives an example of a three-bedroom property on sale in the popular Limousin region of France for €97,500€. By obtaining an 80 percent LTV fixed rate mortgage on this property, it would cost only €348 per month with a fixed rate mortgage.

A spokesman for Validus said: “No wonder people are beginning to rush back to the market to buy French homes. 2010 looks like being a very good year indeed.

• Nottingham-based overseas estate agency, Properties Away has entered into a partnership agreement with Menorca's largest property specialists, Bonnin Sanso. The deal means the company holds exclusive rights to promote Bonnin Sanso's portfolio of properties throughout the East Midlands.

Bonnin Sanso has more than 3,000 properties on its books with prices ranging from £100,000 to £8,000,000.

Angela Campbell, MD at Properties Away, said: “After considering several overseas destinations, we decided to enter an alliance with an agency on Menorca as it is a stable market I know very well with huge sales potential.”

Colin Guanaria, joint founding partner of Bonnin Sanso, said: “We have recently entered into agreements with Jackson-Stops & Staff, Waterside Properties and Birmingham-based Maguire Jackson, and we are exploring new alliances in Leeds, Manchester and Bristol.”

Bonnin Sanso claims to be the largest estate agency on Menorca and is a member of Agentes de la Propiedad Inmobiliaria (API).

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