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Buying French property 'requires research'

options instead of using a bank

Prospective property buyers thinking about acquiring real estate in France must conduct thorough research beforehand to ensure they get the best deal for their needs.

Money transfers companies charge different rates and fees for their services, so conducting a prior assessment could help consumers save a lot of money.

In order to get an idea of the amount of money they will have to transfer in pounds sterling, prospective house buyers are also advised to enlist the services of currency comparison companies.

As well as comparing money transfer services, prospective French property buyers should also think about which notaire (French notary) they will use to complete their sale and advise them on French property law.

In addition to this, prospective property buyers are advised to seek inheritance advice from a tax advisor specialising in French tax law, as inheritance rules in France are different from those in place in the UK.

Niclas Dowlatshahi, managing director of Leapfrog-properties.com, pointed out that although anyone can buy property in France, there are a number of fees that buyers will be subject to.

"You just need to bear in mind that you will need to pay notaire fees, which are roughly three per cent for new builds and seven to eight per cent for resale properties more than five years old," he said.

A recent survey conducted by Pay Your Way found that more than half of UK consumers (56 per cent) who would consider sending money abroad are completely unfamiliar with the options open to them.

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