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2008-05-07 15:20:18 - Harrogate Property Exhibition 16th - 18th MayIf you are thinking of buying/selling in France, then why not come along and see us at the Harrogate Property Exhibition next week 16th -18th May. We will have agents from all areas available to talk to you and plenty of properties to look at on our books. The French Estate Agents - Leggett Immobilier
Stands 25 and 26, Hall 2, Yorkshire Event Centre, Harrogate. We look forward to meeting you there!
2008-04-10 12:04:17 - Why buy in France now?House prices could fall in Britain by as much as 10% in the coming year, the world’s leading economic authority warned this week. Britain is heading for a decline in the housing market similar to that of America. Halifax reported a 2.5 % slump in house prices in March, the worst monthly decline since 1992. They also said that annual house price growth slowed to its lowest level for 12 years, with property prices rising by only 1.1 % during the past 12 months. The means that house prices in the UK are now falling in real terms on an annual basis. France however has seen an increase of 3.5% in property prices the FNAIM reported; they also predict an increase of 2% in 2008. If you are looking to buy in France, either for investment or permanent move, now is the time, particularly if you are selling in the UK, before prices drop further and property prices increase in France
2008-03-31 14:55:31 - Amanda Lamb from Channel 4's "Place in the Sun" said last week that France is the best place to buy!
2008-03-27 14:55:30 - Angouleme Cognac AirportThe launch of the Ryanair service to Angouleme Cognac airport starts on the 1st April 2008 with flights to London Stansted three days a week. For now and the near future...Car parking is free!
The Airport is situated at the crossroads of the RN10 and the RN141 to the north of Angouleme. For further information go to www.aeroport-angouleme-cognac.com
2008-03-25 15:20:30 - New airport at AngoulemeAngouleme Cognac Airport Invitation........26th March
A reminder that this Wednesday Angouleme Cognac airport is holding an English Open Day at the airport from 1000 to 1800. There will be refreshments and a market of regional products to sample.
The launch of the Ryanair service to Angouleme Cognac airport starts on the 1st April 2008 with flights to London Stansted three days a week.
For now and the near future...Car parking is free!
The Airport is situated at the crossroads of the RN10 and the RN141 to the north of Angouleme.
For further information go to www.aeroport-angouleme-cognac.com
2008-03-10 09:36:19 - France is Number One! It's official...France has overtaken Spain as the leading European destination for British expatriates. A mixture of expatriate culture, climate and community has pushed France ahead of Spain which has traditionally dominated the European overseas property market.
2008-02-07 14:33:37 - BANK OF ENGLAND CUTS INTEREST RATES BY 0.25PC. The Bank of England has cut interest rates by a quarter percentage point to 5.25pc in an attempt to head off a slowdown in the economy, reports The Daily Telegraph. The move will come as no surprise to economic commentators after the Bank’s Governor Mervyn King hinted at a fall two weeks ago in response to falling consumer confidence. Mr. King told business leaders in Bristol that at 5.5pc, borrowing costs were stifling consumer spending. Although Britain has not yet seen a slowdown on quite the scale being experienced across the Atlantic, debt, and higher food and fuels bills here have already begun to impact on spending, which together with the knock-on effect of the credit crunch on the housing market, will have been factors in the Bank’s Monetary Policy Committee’s thinking.
Last month the Committee voted 8-1 to hold interest rates at 5.5pc in response to inflation worries and higher food and energy costs will remain a concern. The Bank’s cut comes two weeks after the Federal Reserve in America took drastic action by making an emergency 0.75pc cut, which followed two days of turmoil on international stock markets.
Halifax, Nationwide, Abbey and Royal Bank of Scotland/NatWest all said they would be cutting their standard variable rates by 0.25% within seconds of the Bank of England's Monetary Policy Committee (MPC) making its announcement. Lloyds TSB, which also offers mortgages under the Cheltenham & Gloucester brand, Barclays' mortgage arm the Woolwich, HSBC and first direct are also reducing their rates by a quarter-point, having said they would mirror the MPC's move ahead of its announcement.
The Federal Reserve committee had not been due to meet to discuss interest rates until the end of January. It was the single biggest cut - to 3.5pc - in 23 years and intensified the pressure on the Bank of England’s Monetary Policy Committee to make a cut today. At its scheduled meeting last week, the Fed slashed rates by a further half a percentage point to 3pc as it battled to head off a US recession.
2008-02-04 18:14:08 - THE NEW CHARENTE OFFICES OF LEGGETT IMMOBILIER ARE NOW OPEN IN MANSLE!
As part of the company's expansion plans, having found excellent larger premises in the town centre of Mansle, not far from the river Charente, Leggett Immobilier have packed up their boxes in St Angeau and transferred the local team to their new hi-tech and comfortable offices at Place du 8 mai, MANSLE. The official opening day was Tuesday February 5th when, Trevor Leggett and Alistair Lockhart cut the ceremonial ribbon and opened our new Charente home to the 50 or so clients old and new, local dignitories, and the Charente Libre cameraman and news crew who were keen to report our success.
Leggett Immobilier and its Mansle Team will be covering the Mid to North Charente, from Confolens to Cognac, the South Deux Sevres, Vienne and East Charente Maritime. Towns such as Lezay, Chef Boutonne, Melle, Sauze Vaussais, Ruffec, Civray, Aigre, Matha, Jarnac, Cognac, Saintes, St Jean d’Angeley, Angouleme, La Rochefoucauld and Champagne Mouton are all included, amongst many others, in the Mansle Sector, please ask for your favourite town in this area and we shall see if we can find you your perfect property. Daniel Sabelle, Sarah Edwards and their team of agents look forward to meeting you.
For those not familiar wit the area, Mansle is perfectly situated on the main route between Poitiers and Angouleme, benefiting from easy access to both airports from destinations in the UK. The river Charente, with its local canoe club, runs through the town centre and local facilities include a camping ground, horse racing course, public swimming pool, schools up to secondary level, 2 supermarkets, insurance brokers, banks, bars and restaurants, bakeries and local produce shops.
2008-01-25 15:07:19 - BREAKING NEWS - FRANCE BACKS DOWN OVER EXPAT HEALTHCARE -
The French government has backed down over its decision to deny British expatriates living in France access to state health insurance.
Health Insurance Magazine, - the leading health insurance trade magazine, has just broken the news this afternoon Friday 25th January.
The announcement follows a letter sent to early retired expats from the French authorities last September, which informed them that they would no longer qualify for government health insurance.
In November, the government softened its approach by stating that those already in receipt of state health insurance before November 23 would not be affected.
But it has now announced that any Briton who was legally resident in France on or before November 23, 2007 - whether or not they were in the French health system before that date - will still be able to access it.
Only those moving to France after that date will not qualify and will be required to seek private cover.
French Health Issues, a lobby group, declared the announcement a "great victory" for expats.
A letter to the group from the British Embassy in Paris stated: "The new rules requiring inactive EU nationals from other countries living in France after November 23, 2007 to seek private cover still apply, but will now not retrospectively affect people already resident in France before that date."
2008-01-23 22:20:53 - THANK YOU FOR SHATTERING OUR RECORD! The London Olympia show last weekend was the busiest it's been for 5 years, and we were apparently the busiest stand there! We beat our previous show record for clients booked in to look with us by a whopping 40%. Figures just in show that the exhibition hosted some 27000 people. Thank you to the over 500 clients our sales team personally assisted, and to the 2-300 more that came to say hello, previous clients and those not ready to visit with us yet, for voting us your favourite French estate agents. It is clear that more and more clients are seeing the benefit of dealing directly with real, actual licensed French estate agents - the actual people legally allowed to find and mandate houses for sale, clients can talk directly to us and understand directly what the property is like, our purpose being to make your visit as efficient as possible - the right houses, in the right places, and still for sale! If you couldnt get to Olympia, get in touch now and we'll be delighted to help you. Thank you for helping us be the largest licensed independent Anglophone estate agent in France.
2007-12-17 12:35:22 - 2008 - THE YEAR OF INCENTIVES TO BUY IN FRANCE, THE NUMBER ONE SPOT. If buying is your New Year's resolution and you would like a friendly chat to us, DO COME AND SEE US AT THE OLYMPIA SHOW later this month (see below), we've loads to tempt you. France offers some of the best buys and investments, great houses and great prices.
And now there are added government incentives for house-buyers and for the health-conscious too!
All across France bars and restaurants have gone smoke -free from Jan 1st, so we are now seeing little huddles of people nipping in and out of cafes to get their nicotine fix - a sight familiar to many in the UK.
Also familiar to UK residents will be tax incentives to buy a home. The French government has brought in mortgage interest relief to help with purchase of new homes. This is open to all French residents and should have the effect of releasing more old property onto the market and also making mortgages more appealing across the board for French property purchase. Even though most British buyers are eager to escape their weighty mortgage payments, it makes good financial sense to look into mortgages in France. (See Trevor’s Top Tips.) Note that France controls its mortgage lending very tightly, through the Bank of France, so there is little risk here of the credit problems that have plagued the UK.
Don’t forget, call or email us to set up appointments for January and be sure to come and see us at Stand 204 at The France Show, London Olympia 18-20 January.
2007-12-06 14:56:59 - AN EARLY CHRISTMAS PRESENT FROM THE BANK!An Early Christmas present for UK home owners from the Bank of England who this week cut interest rates from 5.75% to 5.5% - with further cuts widely predicted in either January or February.
Some UK mortgage providers have already lowered their standard variable mortgage rates with others expected to follow suit either in Dec or Jan.
The impact of higher interest rates has begun to bite into disposable incomes, with a definite slowdown in the housing market. The rate cut today is expected to help ‘put a floor’ under housing prices to stop any major slump.
The last few months have seen enormous turbulence in world and UK stockmarkets which has undoubtedly shaken confidence. The Federation of Small Businesses has commented that the retail sector in the UK is struggling, so this cut is welcomed.
2007-11-28 22:59:01 - Another Day in ParadiseWinter draws on, or ‘winter drawers on’ as my Grandma used to say, although not here. In the sunny microclimate of our south western France town no ‘winter drawers’ are seeing the light of day, thank goodness!
No, we are waking up to dry and crisp mornings with bright skies, turning cloudless blue and sunny at midday with temperatures of around 8 or 9 degrees. A sprinkling of rain is forecast later in the week but sun again at the weekend. I find the weather here is always bright, always clean, always refreshing. Travelling around rural France one is constantly reminded of why life is better here. Slower, different, more anchored. Wind your way through a small sleepy village, amongst old precious architecture, breathe clean air, watch the farmers on their old tractors slowly ploughing the fields, folk chatting at the roadside or over the garden fence, dogs barking enthusiastically, the omnipresent old man on the bicycle wobbling up a lane with a baguette under his arm or in the panier. Stereotypes if you like but still very real. Life here is at once definitively rural, somehow with more basic values, somehow operating at a more personal level, with politeness and social standards, and not always driven by money.
These are values that are on the wish-list of every client that my colleagues and I take to visit properties. Values that they want back in their society. Values that are making them forsake their loved homeland for France. Vive la difference!
 Have a great week. And don’t forget to book your tickets to The France Show to come and see us on our Stand 204.
2007-11-20 14:44:02 - Sunset on Spanish property reinforces popularity of France.Reports over the past few months have highlighted the plight of the property market in Spain, for many years the number one destination for Brits buying holiday homes or moving permanently to the sun. As recently reported by Fiona Govan for the Daily Telegraph, hundreds of estate agencies across southern Spain have gone out of business in a trend that experts say signals the end of a buoyant housing market that has fuelled the country's economy over the past decade. Vast swathes of the Spanish coastline have been developed in a construction boom that has made the nation one of the fastest growing economies in Europe. Spanish house prices have risen by more than 200 per cent in that period, encouraging many overseas investors - a large number of them British - to purchase property with the promise of short-term financial rewards.
But in the second quarter of this year the rise in house prices dipped below the rate of inflation for the first time in 10 years.
Last year more than 800,000 homes were built in Spain, more than in Britain, France and Germany combined. The result is a long anticipated downturn in the market with the worst hit areas in the big cities and on the Costa Blanca and Costa del Sol, where more than 250,000 homes are British-owned.
Earlier this year the Organisation for Economic Co-operation and Development said that Spanish house prices were so over inflated that during 2007 the country would see "an abrupt adjustment in which prices will plunge". In addition the Spanish government has said that the housing boom is coming to an end, bringing with it a rise in unemployment due to the expected further decline in new construction contracts being awarded, and that as a result, the country’s economy faced an uncertain future.
Whilst buying property has always been known to be subject to risks, it is still seen by most as one of the safest investments. Good advice for those not prepared to speculate with high risk, has always been to invest in properties in countries with economic and political stability. Such as France. This is one of the reasons that France has always been at the top of the list of countries to move to. Whilst usually behind Spain, perhaps because of the lure of sun and rocketing resale prices, France can now be seen to be a solid investment. Whilst you may not get 30% p.a return on your investment, you could get around 2500 sun hours per year!
Here at Leggett Immobilier we pride ourselves on our breadth of knowledge gained over 20 years experience in French property, and with over 2500 houses to choose from, across France, we’ll be please to help you find your dream home.
2007-11-13 15:10:29 - FRANCE RULES OK.
Sound investment and the British love of a good property bargain still drives your purchase decisions according to the results of our recent website survey.
Nearly half of you are looking to move in France because of the good value property prices you still see over here compared to in the UK. And let’s not forget the security of the French legal system that backs up your purchase, security which is certainly lacking in some other countries – a fact that may have turned many of you away from bargain basement Eastern property promise.
A quarter of you are looking to reduce your financial pressure. This could be anything from high mortgages, credit card pressures, school fees, and problems related to the subprime market collapse - which have had a pretty much global impact apart from in France. The attraction of buying without a heavy mortgage is as potent as ever, and the strict borrowing controls in France mean that the family debt is much lower than in the UK.
Have a look at over 2500 properties for sale in France on our site, there’s sure to be one there for you. And when you need advice and help, we’re only too happy to do our best to guide you, without obligation or charge. Happy hunting!
2007-11-06 09:30:44 - UP TO 31% OF BRITS WILL RETURN FROM HALF-TERM HOLIDAYS WANTING TO PURCHASE A PROPERTY ABROAD, 64% TO LIVE THERE PERMANENTLY, ACCORDING TO NEW RESEARCH FROM NAT WEST.
A great many holidaymakers find the process of organising a holiday too stressful, and are looking to buy a property simply to avoid the hassle of arranging a holiday next time.
"Holidays should be fun and relaxing but sadly this isn’t always the case," said Mike Freer, head of business development at NatWest.
"The hassle and expense of arranging holidays can be hugely traumatic - from deciding where to go and remembering to pack everything but the kitchen sink, yet keeping under the new airline luggage weight restrictions."
More than 250,000 Brits already own a property abroad, with Spain and France among the most popular destinations.
Many of these overseas properties have been purchased with future holidays in mind.
A third of existing and potential overseas property owners feel their property will make future breaks cheaper, while a quarter feel it will make foreign holidays less stressful.
Some 52 per cent also desire to buy a property in a location they have already visited on holiday.
However, 64 per cent of Brits feel their overseas property will allow them to live abroad permanently, while 18 per cent plan to retire there.
A further 17 per cent plan to leave in the next five years.
"Buying a holiday home abroad is increasingly becoming the norm for British families. Spain continues to top the tables as the most popular overseas hotspot," continued Mr Freer.
"While the upfront purchase cost is a huge financial commitment, the long term benefits of holiday homes can be fantastic as they provide great investment potential, a wonderful lifestyle and a permanent escape from the hassle and expense of holiday arrangements.
"A holiday home can literally pay for itself."
2007-10-30 01:58:07 - FRENCH PROPERTY SALES – BLOWING OUR OWN TRUMPET!
2 cases of overcharging and underservicing to illustrate good value for money..
Browsing through a well-known French property magazine recently we found a large advertisement describing in detail how a certain organisation gives clients assistance buying property in France. They help clients decide on an area where they want to look, accompany them on visits to properties, translate sales documents for the chosen house, check the searches and tests and investigate and answer any questions, and generally oversee the sale to completion. Well that’s what we do for all our valued clients, so no surprise there. But this company charges 7500 euros for their service. Is that part of their agent fee perhaps? No, they’re not a French estate agent. So, why would a buyer pay 7500 euros to an introducer, plus the French agents fee, plus the notaires fees, plus the cost of the house. For peace of mind? For a peace of mind purchase all British buyers need is a French estate agency that speaks fluent native English and includes as a minimum all this service – that’s us, Leggett Immobilier, a fully registered French estate agency run by British people. AND WITH US THIS HIGH SERVICE LEVEL COSTS YOU NOTHING EXTRA.
Alistair Lockhart our M.D. was last week helping an investment client with a 3 Million euro budget find a 15 Hectare property with lake and woodland for building a holiday village. Alistair explained our service to the client including that we would, to help protect his investment, check with the local mairie that his proposed project would be valid, and that this agreement would be enshrined within the purchase contract. Alistair also explained that, as with all our clients, we would stay by the side of the investor even after the sale to ensure a smooth transition. The client was hugely impressed with Leggett’s service - he having paid a small fortune for 3rd party advice on a similar purchase through another agent a year before. Of course we are not purporting to be lawyers or conveyancers but the experienced helping hand of Leggetts can save you money and give you peace of mind – we go the extra mile to protect your dream purchase, including after sales service - AND WITH US IT COSTS YOU NOTHING EXTRA.
Leggetts, the French estate agents, why go elsewhere.
2007-10-23 01:17:52 - FRANCE BATHES IN AUTUMN SUN AND LOW CRIME.
France’s sunshine – well that’s a matter of geography; the lack of rural crime – that’s down in part to family values and is one of the many reasons cited by Britons leaving to live in France.
As covered in Le Monde and the Telegraph, France’s Minister for the Interior, Michèle Alliot-Marie, has restated her intention to increase the amount of CCTV video surveillance. The aim is to reduce city delinquency and enhance security in the global war against terrorism. The background to this move is that France has relatively few CCTV cameras, between 300,000 and one million compared to the UK’s estimated 4.2 million, for roughly the same population. That’s less than a quarter! France is a comparatively low-crime country. But why?
It is widely perceived that in the rural communities and small towns French youths are polite to their elders, and delinquency, alcohol-fuelled random violence and vandalism are rare occurrences.
Moreover, the family maintains an influential role. Acutely aware of the potential for crushing disapproval from parents and grandparents, village teenagers do indeed tend to incline towards deference to adults. Stories circulate of youths caught in the act of painting graffiti being roundly humiliated by the obligation to scrub it off again under the weighty gaze of the entire community. And then, much worse, they have to face their grandmothers!
So, in part, the low crime is put down to the strong family element that France retains, hence the “granny” effect. But it is also down to simple economics limiting the alcohol effect. Drinking in bars by rural youths is not as popular as in Britain for the simple reason that their disposable income simply won’t allow it. An evening of serious drinking is just not an option for many French teenagers, so they stay in or go to a friend’s house. Many rural bars close at 7.30pm as everyone has gone home for the evening! Vive la difference!
2007-10-15 16:22:04 - FRANCE PLANS TO EARN MORE
France wants to increase its earning ability in order to underpin its expenditure and to give more buying power to individuals. Most of the country is in agreement with this and looks forward to a change.
The Daily Telegraph reports that even the historically militant transport unions have called a strike for only one day in response to government plans to radically overhaul the extraordinarily generous pension plans of state railway operator SNCF.
From Monday 1st October allowed overtime means that most people can now work up to 39 hours per week and that the four extra hours are exempted from both tax and social charges (broadly the French equivalent of National Insurance).
Even so, a survey carried out for Le Monde suggests that a majority of people do not believe that the extra will make a lot of difference to their purchasing power – their “pouvoir d’achat”, a national obsession in France.
The general assumption is that any extra will be quickly absorbed by the need to pay for more childcare and that prices will simply be increased to take advantage of any extra cash sloshing around in the economy.
Many question the likelihood that employers already accustomed to getting things done in 35 hours will be willing to offer overtime that they, the employers, fear will simply lead to a drop in productivity.
2007-10-08 12:53:17 - NOW THE WORLD CAN FLY HOME TO ANGOULEME! HOW ABOUT YOU?
It may soon be possible to buy an air ticket from major world cities to Angouleme, reports the Charente Libre this week. Authorities at the Brie-Champniers airport near the Charente capital have, as expected, formally revealed that Ryanair will be operating flights from Stansted Airport from spring 2008. Less expected, however, was the news that GB Airways – who operate as a franchise of British Airways – will also be providing a service to and from Angoulême. GB Airways fly from Gatwick, which means that in theory passengers will one day be able to buy a ticket from the Charente to any one of up to 600 worldwide destinations, checking in their baggage just once at Angoulême. Despite the formal announcement by the authorities in the Charente, negotiations are still continuing on some of the details and planned services could change between now and the opening date next spring. As it stands, both Ryanair and GB Airways will be only be operating services for the busiest parts of the year. Ryanair will be providing three flights a week to and from Stansted, using a Boeing 737 with a capacity of 189 passengers. This will operate for 30 weeks of the year. GB Airways is set to use an Airbus A 320 – capable of carrying 162 passengers – for daily flights for 27 weeks a year. The Chambre d'industrie et de commerce d'Angoulême (CCI) is still trying to persuade GB Airways to operate some flights a week all year round. The department council’s president Michel Boutant welcomed the announcements. ‘It is very good news for the Charente,’ he said. However, he was also cautious, given that negotiations are still continuing. ‘I want to see the first plane fly,’ he added. The department president said he was very surprised at the level of interest shown by airlines in flying to the airport, an interest that grew when they realised it was to be re-branded Angoulême-Cognac airport. ‘The name Cognac gets a reaction,’ said Michel Boutant. There had also been expressions of interest from easyJet and from a new French start-up airline called Odeseus. Daniel Braud, president of the CCI, said Ryaniar and GB Airways represented a good choice of airlines which would allow people to fly anywhere in the world from Angoulême and would benefit tourism as much as business. ‘It’s a crucial moment in the development of the department,’ he said. Daniel Braud knows there will be tough negotiations ahead, noticeably with local bodies and groups who will be asked to pay for some of the ‘marketing’ costs of the new airlines. However for the moment he prefers to focus on the positive. ‘Soon with just one ticket we'll be able to go from Angoulême to New York…’ he noted.
Good news then for those looking to buy a property in the Poitou-Charente, book a house-hunting visit with us now on info@frenchestateagents.com .
2007-09-28 18:24:01 - Our pick of the week's newsTHE COST OF STAYING HEALTHY IN FRANCE – WE EXPLAIN THE NEW HEALTH REFORMS
As Nicolas Sarkozy presses ahead with wide-ranging reforms, he has also continued with changes to the health system, which come into effect from 1 October 2007. These changes will affect both French and British living in France and there has been much confusion and debate over the changes and what is actually entailed.
Trevor Leggett, Executive Director, Leggett Immobilier comments, “These changes to the health system actually date from a 2004 European Directive, which stated that Europeans looking to move to another country within the EU should have enough capital or income to look after themselves and not have to fall back on state social security – including the state healthcare system. Nicolas Sarkozy has continued with the implementation of these changes as part of a raft of reforms he is swiftly putting in place, including changes to Inheritance Tax and Wealth Tax. These health reforms will affect not only British people living in France – or planning on moving to the country – but also French people who have taken early retirement.”
Trevor Leggett continues, “The health reforms are regarded as essential because currently around 80% of France’s GDP is spent servicing the 1.4 trillion euro French debt. It is important to stress, however, in the light of the changes, that healthcare in France, unlike the UK, has always been partly contributory. The state will normally cover between 15 – 70% depending upon the type of the medical treatment and the balance is either paid directly by the individual, or through a ‘top up’ complementary health insurance policy. British expats living in France have always had to pay something into the health system to cover the shortfall.”
Now under the changes, individuals from the EU who are resident in France have to meet the following criteria in order to be eligible for subscription to the French state healthcare system, the Couverture Maladie Universelle (CMU):
* They are in receipt of a state pension, which would in the UK qualify then for an E121 form
* They are in receipt of an E106 – valid for up to 2.5 years upon moving to France
* They are working in France and therefore contributing to the French system
Previously, British expats who had moved to France before retirement age could make voluntary contributions to subscribe to the CMU, in much the same way as one can make voluntary National Insurance contributions in the UK. However, under the changes, this will no longer be available as an option.
What this means for British pre-retirees who already live or plan to live in France, is that once the reciprocal cover provided by the E106 expires, they will have to seek out a comprehensive private healthcare insurance policy for themselves and their dependants. This is likely to cost in the order of 1,500€ per annum for a single person aged 50, or around 2,500€ for a couple around the same age. Although this may seem expensive, it is considerably cheaper than the compulsory earnings-related healthcare contributions made by all of those working in France.
Alternatively, British expats can start contributing into the French social security system, either by finding employment perhaps as a self-employed tradesman, or by starting up a small business such as chambres d’hotes. This would mean that they are, in effect, paying their own compulsory earnings-related contributions to receive basic healthcare cover. While this may seem a good option for someone with modest earnings, high earners will obviously contribute more.
For individuals who have already or who will shortly reach UK state retirement age, under EU regulations they will be entitled to apply to the UK for a E121 form, which will give them and a younger spouse or other dependants, access to healthcare on the same basis as a member of the country in which they are living. However, they will, as now, require ‘top up’ insurance.
Trevor Leggett comments, “The good news for those Brits living in France, or looking to move here is that finally the position regarding healthcare has been clarified. The French healthcare system is an excellent system in terms of medical provision and care and is one of the reasons so many British people do want to move to France. Now, with these changes, Nicolas Sarkozy aims to simplify the previously quite complicated contributory system. It is also quite likely that these measures will, sooner or later, result in the lowering of the earnings-related contributions, which is good news for everyone working in France.”
Trevor Leggett ends, “It will be interesting watching the reforms come into being. The timing set for the recent reforms are considered by most of the large unions in France to be unreasonable. In some cases, Sarkozy has given the unions just 15 days to consider, which is likely to cause a stir! Change, while very necessary, may well be volatile!”
2007-09-24 22:05:06 - Our pick of the week's newsHousing market crisis for UK suggests Christopher Wood
The analyst credited with predicting the collapse of the United States sub-prime mortgage market warned yesterday that the Northern Rock crisis was "just the beginning" of Britain's exposure to the unwinding of the structured credit industry.
Christopher Wood, a managing director at CLSA, the Asia-focused brokerage, told The Daily Telegraph that the British economy was at particularly grave risk from the turmoil in the world's financial markets because of its relative reliance on the City as its growth engine.
"The UK economy is heading for a sharp shock," he said. "It is based on the City of London, the housing market and sub-prime consumer lending. While the UK probably won't suffer on sub-prime to the same extent as the US, a real downturn in Britain's housing market seems to be inevitable."
Mr Wood, who was born in Britain and has earned a following for the punchy commentary in his regular research publication Greed and Fear, warned in 2005 that US mortgage debt was the principal source of risk in the American financial system, making him the first to highlight the dangers of the sub-prime lending sector.
In his latest note, published on Sunday, Mr Wood suggested that Mervyn King, Governor of the Bank of England, should "feel like a schmuck" for the Bank's decision to bail out Northern Rock. He said that Mr King had "massively accentuated moral hazard" by coming to the lender's assistance. "It is amazing that the Bank of England has felt it necessary to come to the rescue of an institution that had been run in such a reckless fashion". Northern Rock's balance sheet, he wrote, "would not disgrace a Thai finance company prior to the Asian Crisis" of 1997.
"Northern Rock was always a candidate to be the first to go under because of its aggressive lending model," said Mr Wood yesterday. "This is just the beginning. I would be amazed if there isn't worse to come in the UK."
He said the global credit crisis would usher in a new era of more stringent financial regulation. "The regulatory backlash will be worse when it is the ordinary person who gets hit," he said.
Mr Wood also attacked the credit rating agencies. "Their model was a recipe for massive conflicts of interest," he said.
The Daily Telegraph, Mark Kleinman, Hong Kong
2007-09-18 15:04:26 - Our pick of this week's newsUK Housing Market Activity Increases Momentum As Summer Lull Comes To An End
The National Association of Estate Agents (NAEA) released figures from its latest housing market survey today, revealing that activity in the housing market has begun to increase in momentum following the July slowdown.
As typical for the time of year the number of registered buyers, properties on estate agents’ books and sales per agent all rose during August as the market prepared for the end of the summer lull period. However, with uncertainty clouding the economic climate, the majority of these figures were still down on the same time last year.
House hunters demonstrate caution - with the number of people looking to purchase a home increased slightly in August with agents reporting a rise of 3.8% with an average of 326 buyers registered on their books in comparison to the 314 recorded in July.
While an increase in house hunters is typical for the time of year, this is the lowest reported August rise since 2003, as increasing interest rates and reduced house price inflation cause caution among consumers.
Housing stock increases - the number of houses for sale increased in August as NAEA members reported an average of 81 properties for sale during the month compared to the 45 properties reported the previous month. After a very slow July, general property supply figures returned to more normal levels in August. However, while the overall housing stock figure rose, agents reported that the number of four bedroom and larger properties on the market decreased on average by around 37% in August as the first phase launch of home information packs (HIPs) began to take its toll.
Sales on the rise - the number of sales reported increased in August, with an average of 12 houses sold per agent compared to the 10 properties sold per agent in July. Levels are down from 15 this time last year. This decrease may be partially attributed to the recent economic movements and introduction of the HIPs legislation.
Meanwhile, first time buyers took a smaller share of the market this summer as their percentage share was reported at 9.7%, compared with 13.4% in August 2006. This continuing waning of first time buyers in the market can be partly attributed to the turbulent interest rate rises that have lead to the current insecurity for this sector.
Sellers hesitant - the average time taken to sell a property increased by just over a week when compared with this time last year, when it reportedly took on average 17.0 weeks in August 2006 to 18.2 in 2007.
The average gap between asking and selling price also widened further with agents reporting a difference of 3.5% in August 2007, compared to 3.1% the same time last year. The NAEA is warning homeowners to be more realistic with the property pricing as the market faces a period of adjustment.
Period of stability needed - NAEA president, Stewart Lilly, comments: "The housing market needs a period of sustained stability to allow people to take stock of the current situation and think carefully about their own personal options. Over the last forty years I have seen many peaks and troughs in the market and at this present time I cannot see any troughs on the horizon. Indeed, ever since man existed food and shelter have been prime concerns and with housing demand still outstripping supply, this will of course continue. The latest figures indicate that a period of low house price inflation may well be on its way. However, the recent introduction of the second phase of HIPs is likely to cause more disruption and in particular prompt a 'wait and see' strategy from individuals who are unsure about the full impact of the legislation. "
2007-09-04 13:07:40 - Our pick of the week's newsTHE COST OF DYING PLUMMETS IN FRANCE WITH NEW INHERITANCE TAX REFORMS
Going headlong against the Napoleonic Code and some of the principles of the Revolution of 1789, Nicolas Sarkozy today instituted changes to the Inheritance Tax threshold, as part of the new ‘Work, Employment and Buying Power’ W.E.B. legislation.
Trevor Leggett, Executive Director, Leggett Immobilier comments, “Inheritance Tax, like so many outmoded ideas such as Wealth Tax, has long been a sticky subject in France. But now, with changes to the Inheritance Tax threshold, Nicolas Sarkozy is set to revolutionise the economy and boost investment in the housing market. It is estimated that with the new changes as many as 95% of the population of France will no longer pay any Inheritance Tax at all upon the death of their parents. These changes will be of interest to British homeowners in France as they will also benefit.”
The new legislation (LOI 2007 – 1223 du 21 aout 2007, en faveur du travail, de l’emploi et du pouvoir d’achat), raises the Inheritance Tax threshold from 50,000€ to 150,000€ per parent for each child. For nephews and nieces the new threshold will only be 7,500€, while for brothers and sisters the threshold rises from 5,000€ to 15,000€.
To show how this would work, take the example of what happens if a widowed man and father of two dies. Under the new legislation each child can receive up to 150,000€ tax free – whereas, until now, the children would each have had to pay 13,300€ tax on this figure (a saving of 26,600€ between them).
Trevor Leggett continues, “It appears that now you can also make annual donations that are free of inheritance tax. This is a massive improvement on the original time restriction of 10 year intervals and will help parents and grandparents provide regular allowances.”
Up to 30,000 euros can be given every year to a child, grandchild or great-grandchild or even, in their absence, a nephew or niece. The donor must be under 65 years on the day of the donation and the recipient must be aged over 18 years. However, as Trevor Leggett says, “Care will have to be taken to avoid the donation pushing the recipient into a higher tax bracket. The recipient will still have to pay the appropriate level of income tax on the donation.”
Trevor Leggett ends, “With this new W.E.B. legislation people in France will undoubtedly, like their British and Spanish counterpoints, favour bricks and mortar as a solid investment as opposed to life assurance policies, which for many years now have had considerable inheritance tax breaks. Now you can die in peace knowing that your hard earned cash is going to pass to your children with the tax man getting a much smaller share. Certainly this new W.E.B. legislation should free up some cash and get things moving along a little faster, which is good news for everyone in France.”
2007-08-21 14:12:04 - Our pick of the week's newsFrench property "INVESTMENT SHELTER from growing sub-prime crisis" - PARIS (Thomson Financial) - Serge Grzybowski, chief executive of property development group Icade, says the French property market is "sheltered" from the US sub-prime crisis, thanks to the strict legal and financial framework governing mortgages in France. "Floating-rate loans are often capped in France and banks don't lend more than 33 pct of an individual's disposable income," he said in an interview with French daily La Tribune. In contrast, US households tend to take out uncapped floating rate loans, and in some cases have borrowed over 40 pct of disposable income, leaving them particularly exposed to rises in interest rates. Grzybowski also said French property groups have little exposure to foreign property markets "or to the more speculative property markets", and above all maintain a prudent debt policy. Gearing is kept below 50 pct and in some cases is even lower, as in Icade's case, he said. Consequently, French property groups are less sensitive to rises in interest rates, he continued. Readers wishing to see the rewards of a French property investment are invited to call us on 08700 11 51 51 or 0033 5 53 56 62 54 and ask for our Investment advisor to contact you, alternatively mail investment@frenchestateagents.com
2007-08-13 14:40:06 - Debt stats prompt ‘sell quick, relocate abroad’. Debt stats prompt ‘sell quick, relocate abroad’.
A sharp rise in UK debt and home repossession statistics has prompted a move towards quick sales and relocation. National Homebuyers, a company that guarantees a purchase for homeowners needing a quick sale, reported a surge of enquiries last month with the number doubling compared to June 2007. Following a sharp rise in home repossessions reported in statistics released by the Council of Mortgage Lenders and the Justice Department last week, National Homebuyers’ numbers support renewed fears that rising interest rates could trigger a collapse in the housing market.
In a recent survey of 1,300 customers over the past 18 months, asking why they were looking for a quick sale, National Homebuyers found a quarter of its customers stated debt as the deciding factor; over a third (36.8%) stated family reasons including divorce, health, retirement, death and resizing as the reason for selling their property fast; and 39.5 per cent of customers wanted to relocate and move abroad as quickly as possible with the least possible hassle.
If you are one of the 39.5% selling quickly and wanting to relocate fast and ‘with least possible hassle’ let us introduce you to our professional services at Leggett Immobilier. Use our search facilities on this site to look over our 2000+ houses for sale across France – the UKs favourite destination – and consult our area information to help you decide where to buy. Feel free to contact our regional sales agents direct with any questions you have. We are here to help you.
2007-08-06 15:53:37 - French Inheritance laws to improveFrench inheritance law is under review, which is great news for buyers and investors in France. All properties owned in France are subject to French inheritance law whether they are holiday homes or permanent homes. Any tax payable is payable in France. It has sometimes been an issue for married couples buying in France that tax could be payable on the property passing across after the first death. Also that there was only a very low tax threshold for payment of inheritance tax by the inheriting children. That is all now set to change in proposals put by the government of Nicholas Sarkozy.
Although full details are awaited, it is proposed that the threshold for tax payable by a surviving spouse be completely eliminated. This means that on the first death, there will be no tax implication. Regarding the children there used to be a small 50 000 euro allowance for each child, this has now been tripled to 150 000 euros, so that for each child of each parent there is now inheritance tax exemption up to 150 0000 euros of property value. This is excellent news for all French house owners and for investors, and will, apparently, remove all inheritance tax payment for 90% of house owners. As with all financial and taxation regulations, you should seek professional advice before making a buying decision. Overall though, another good reason to buy in France as opposed to elsewhere. Have a look at our newly updated property listings and area guides.
2007-07-24 16:55:00 - The tour de France 2007 – what’s for sale on the route ?
The greatest cycling race in the world started in London this year, its first ever linking with Britain. We show you properties for sale along its 3550 km route as it passes through some of the prettiest parts of France (and also right past our head office!).
Christian PRUDHOMME - Director of the Tour de France says “All of us can sense it: in early July, the Tour de France will open up a new chapter in its history. The departure will be unlike anything that has ever been seen before - extraordinary in the literal meaning of the word. The desire of Mr. Mayor of London, Ken Livingstone, to welcome the world’s greatest cycling race with all the honors due its rank, his goal of encouraging more people to ride bicycles in his city, and the British capital’s power and prestige will make the 2007 Tour stand out from all those that have preceded it. London is offering us its heart, most beautiful landmarks and emblematic sights as the set piece for a departure that is already arousing unprecedented excitement. The city won over everybody who took part in our scouting and study trips. The Londoners’ enthusiasm has convinced us that this event must not be missed under any circumstances! From Trafalgar Square to Tower Bridge, the presentation of the teams, the official departure ceremony beneath Big Ben and the ride past Buckingham Palace and through Hyde Park, the 2007 Tour de France will be one of the most exciting events in recent memory. Since the Paris-London bicycle race in 2004, which celebrated the Entente Cordiale, the French and British teams have become acquainted with each other, learned to work together and come to like each other. Close cooperation has been established in every area and on all levels thanks to the skills and humility of the TFL (Transport For London) managers who organized the project. French and British police and gendarmerie services have met each other many times. British police officers crossed the Channel to learn about bicycle racing’s specificities during the 2006 Tour, the Paris-Tours race and the Paris-Nice race in the spring. A “Traffic management order” issued by the secretary of state for transport has exceptionally given the Tour private use of the road, just like in France. That way, the race will be at home on the other side of the Channel, in London, Canterbury and the verdant Kent countryside, as well as it is in France.”
Learn more about the Tour at http://www.letour.fr/2007/TDF/COURSE/us/le_tour_2007.html
From the 17th July the Tour racers have been making their way around the South East of France, past The Alps, along the South coast to The Pyrenees and then up to Angouleme where, after passing the Leggett Immobilier Head Office in the Dordogne (!) on the 28th July, they will all jump on the TGV to Paris. Here’s a list of the latter stages of the route, have a look at the link to our nearest office to see what properties we have in that area.
stage 9 - Val-d’Isère > Briançon 159.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-alpes_de_haute_provence-04-france.html
stage 10 - Tallard > Marseille 229.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-vaucluse-84-france.html
stage 11 - Marseille > Montpellier 182.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-bouches_du_rhone-13-france.html
stage 12 - Montpellier > Castres 178.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-herault-34-france.html
stage 13 - Albi > Albi 54 km
http://www.frenchestateagents.com/french-houses-for-sale-in-tarn-81-france.html
stage 14 - Mazamet > Plateau-de-Beille 197 km
http://www.frenchestateagents.com/french-houses-for-sale-in-aude-11-france.html
stage 15 - Foix > Loudenvielle - Le Louron 196 km
http://www.frenchestateagents.com/french-houses-for-sale-in-pyrenees_orientales-66-france.html
stage 16 - Orthez > Gourette - Col d’Aubisque 218.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-haute_garonne-31-france.html
stage 17 - Pau > Castelsarrasin 188.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-lot-46-france.html
http://www.frenchestateagents.com/french-houses-for-sale-in-lot_et_garonne-47-france.html
stage 18 - Cahors > Angoulême 211 km
http://www.frenchestateagents.com/french-houses-for-sale-in-dordogne-24-france.html
stage 19 - Cognac > Angoulême 55.5 km
http://www.frenchestateagents.com/french-houses-for-sale-in-charente-16-france.html
Such a stunning country, so many beautiful houses, so little time, - so give us a call!
08700 11 51 51 or direct to our French Head Office on the Tour de France route on 00 33 5 53 56 62 54.
2007-07-24 14:20:35 - Our pick of the week's newsSARKOZY TO MAKE IT EASIER FOR BRITS BUYING AND LIVING IN FRANCE: Life for Brits living and looking to buy in France is set to become easier under the new Sarkozy regime, says Trevor Leggett.
Trevor Leggett, Executive Director, Leggett Immobilier comments, “Over the last 20 years I have spent living and working in France I have seen plenty of ups and downs – now, for the first time since I first moved here, there seem to be major changes happening very quickly. Is our new President, Nicolas Sarkozy – or Nicolas, as he prefers to be known – France’s answer to John F Kennedy in the States? The French electorate liked what Nicolas proposed and, amazingly, he does seem to be doing what he said he would – a French President who so far seems to be sticking to his agenda! His enthusiasm seems to be creating the dynamism that France could really do with – perhaps the ‘feel good factor’ is now arriving in France!’
Nicolas has a raft of reforms that he is quickly putting in place to improve the French economy and create an economic model that will champion consumers and boost the ‘pouvoir d’achat – buying power’. Amongst those planned, two areas will be of particular interest and importance to the increasing numbers of British families looking to set up home in France and for investors looking for the best home for their money.
Trevor Leggett continues, ‘Recent research indicates that about 50% of those between the ages of 25 – 44 in the UK are looking to move abroad, while the figure is about 60% for those between the ages of 45 – 54 dreaming of retirement overseas. For both these groups, France and Spain remain the countries of choice, with the stable legal framework around buying and selling in France adding to its attractions. Now, with Nicolas, the small business as a creator of employment is being widely recognised as France’s answer to its biggest problem – unemployment. The UK has one million more businesses than France and Nicolas wants to give French small businesses and self-employed people easier terms and working conditions, in order to encourage and stimulate the market. This is fantastic news for those Brits already living in France, as the majority of British people in France run their own small businesses or are self-employed. At Leggett Immobilier we are seeing young British families on a daily basis, who are looking to move to France in larger numbers than ever and where at least one parent will need to work. They should see these reforms as an immediate kick start to their planned move.’
The planned reforms will also boost investment choices, which is good news for British and Irish investors, who have perhaps been discouraged from investing in France due to high levels of inheritance tax, the highest social security charges in the world and, of course, the wealth tax (ISF). Now all these taxes are in for reform and in this positive climate France really does look better than ever as the place for investment.
Nicolas would also like to see the number of home owners increase to match the rates in the UK and is putting MIRAS style tax breaks in place to assist home buyers. Trevor Leggett ends, “With French house prices still well below those of their European neighbours, the increase in demand will cause prices to rise, particularly in the lower end of the market. On the other hand, prices at the top end of the market have never really dropped, but reductions in taxation can only increase demand. Don’t be put off by the natural lower inflation levels of the property market during the first six months of 2007 – a presidential election always creates an atmosphere of uncertainty. Since the elections, we at Leggett Immobilier have seen an increase in sales to record levels in June and July and are expecting demand to continue during the rest of 2007. Now is the time to buy and invest!’
2007-06-16 18:20:43 - Our pick of the week's newsFrance is still a top destination for British buyers, and the dream of owning a property abroad is growing. More than 50% of over 50 Brits want to emigrate, and France is back up there in the top 2 destinations despite recent pressure from eastern european countries. An independent survey by a specialist insurance provider for people aged 50 and over, shows that over half of all Britons hope to retire abroad. The leading reason behind the decision to emigrate proved to be long-standing fears about retired life in the UK.
The findings, published from an annual customer survey, revealed the most popular retirement destinations for disaffected Brits are Spain, France and Canada.
The single largest worry for the retired community in Britain proved to be concerns over money and maintaining a secure income; 40% of all respondents cited this issue as their greatest fear. Further concerns about retiring in the UK included the spiralling cost of healthcare, worries surrounding the NHS and fear of hospital waiting lists. One in four polled was also concerned with council tax, while health (7%), vandalism (6%) and immigration (6%) were also major concerns.
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