Case Studies Post
September 2018 – Mr and Mrs L. 63 and 71 years old.
English couple residing in the UK.
Our clients contacted us as they were in the process of purchasing a holiday home in Antibes, on the French Riviera. Although they could afford to pay the full price without resorting to mortgage finance, our clients were reluctant to converting a significant proportion of their savings, held in GBP, into Euros due to the unfavourable exchange rate.
Bluesky Finance solution:
We arranged a euro denominated mortgage for an amount of €1.2 million so as to cover the purchase price and legal fees. The mortgage came in the form of an interest-only loan with a term of 7 years. Life insurance was kept fully optional.
The mortgage loan was secured against the French villa and against an interest-bearing saving account denominated in GBP.
Loan amount : €1.2 million
Interest rate : 2.2% (floating)
No early repayment fees
Life insurance fully optional