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The French Property Network

Dec 1

Is the Euro to suffer in Italian Referendum

FC Exchange

Will the Euro suffer in Italian Referendum?

Italian citizens will go to the polls this Sunday to vote on constitutional reform. Prime Minister Matteo Renzi is seeking to reduce the powers and size of the senate – the upper house of Italy’s parliament. If he is successful then it will pave the way for Renzi to govern more easily - effectively streamline Italian politics. If he is successful then it would grant him unprecedented powers, which many of the other political parties fear. If he fails to get the required “Yes” vote he has promised to resign which is likely to cause volatility in the markets and euro weakness.                          

Presently polls have a “No” vote with a slender lead and if this result is realised and Renzi resigns then it may trigger an early parliamentary election. Fears are that beneficiaries of such an election may be the more right-wing anti-euro rhetoric parties. One of these is the Five Star Movement, founded in 2009, which has already enjoyed electoral success this year, winning mayoral races in both Turin and Rome.

This uncertainty is expected to impact the European Central Bank’s decision next week on whether to continue its stimulus programme. Italian banks are anticipated to hold nearly a third of the €990bn unpaid loans to top eurozone lenders. The ECB is therefore likely to temporarily boost purchases of Italian government bonds if the vote sharply drives up borrowing costs. 

Current rates:

Thursday 1st December at 08:00

£1.00 GBP = 1.1815 EURO

£1.00 GBP = 1.2542 USD

£1.00 GBP = 1.6933 AUD

£1.00 GBP = 1.7676 NZD

£1.00 GBP = 1.6787 CAD

£1.00 GBP = 17.4837 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a start and knowing the events coming up that may influence the GBP/EURO exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets have always fluctuated, but this year has seen unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen this year and look ahead to the issues that could affect currency markets in the next quarter, moving into 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add CommentViews: 366
Nov 28

How to buy a property in France

Question: Hi Alex, can you describe the buying process in France to me as a complete novice? a really basic step by step format please.

Thanks, Ernest.

Answer: Hi Ernest, here we go in basic terms the process of buying a house in France, for a more detailed version you can read a bit more on our "Buying Process - The Basics" webpage as well.

1. Unlike in the UK, in France the estate agent will accompany the buyer to see the house and does not give the address of the house before the viewing.

2. You make an offer, usually betwen 5% and 10% of the asking price [but this does vary] and once accepted by the seller, the buyer and the seller sign an initial contract called the "Compromis-de-Vente"

3. Then follows a 10 day cooling off period, during that time the buyer can change their mind about buying the property but the seller is already committed. 

4. A deposit of 10% of the price of the house is paid at this stage to reserve the property.

5. The "Compromis-de-Vente" may include specific clauses or conditions, such as the sale being dependent on obtaining a mortgage arrangement or planning permission for example. 

6. The "Notaire" then makes the conveyancing, a "Notaire" must always be used for the purchase of a property in France.

Cle France Blogs

For everything you need to know about French property visit www.clefrance.co.uk

Add CommentViews: 344
Nov 24

Sterling strengthens against the Euro

FC Exchange

The pound has continued its positive run versus the euro and we are currently trading at the highest level for two months – 1.18 interbank (IB).

The main driver for the pound of late has been talk of a softer Brexit which has offered some much needed support for sterling. Britain's Autumn Statement on the budget was also read as more supportive of growth and upbeat than some had expected. Downward growth revisions were seen to be far less severe than the market had been expecting, keeping sterling on the front foot.

If tomorrow's all important GDP data beats expectations we could see the pound test the 1.20 IB resistance level which has not been breached since July 2016.

To find out how we can help you protect against or take advantage of these volatile markets, get in touch with your account manager.

Thursday 24th November at 17:20

£1.00 GBP = 1.1803 EURO

£1.00 GBP = 1.2450 USD

£1.00 GBP = 1.6801 AUD

£1.00 GBP = 1.7777 NZD

£1.00 GBP = 1.6794 CAD

£1.00 GBP = 17.6196 ZAR

Just imagine if YOU could forecast the exchange rate?

No one can do that of course but being well informed is a start and knowing the events coming up that may influence the GBP/EURO exchange rate may help you with your planning.

The latest quarterly currency market forecasts from the international money transfer experts, FC Exchange, are now available. The reports are essential reading for anyone buying or selling a property, in fact anyone making international money transfers.

The currency markets have always fluctuated, but this year has seen unprecedented levels of volatility. The currency forecasts review the factors that have contributed to the uncertainty we have seen this year and look ahead to the issues that could affect currency markets in the next quarter, moving into 2017.

Grab your Free Report here... 

FC Exchange Market Report

Do you want more information ?

So if you need to buy or sell sterling and would like to be kept up to date with all the latest data releases and exchange rate movements then feel free to contact myself Ben Amrany. If you are buying or selling a house in France we will make sure your monies are in the right place at the right time, we work hand in hand with you and Cle France.

For more information on the currency service I can provide please feel free to contact myself...

Ben Amrany from FC Exchange follow this link or phone and ask for myself and quote "Cle France" on 020 7989 0000.

You may contact me directly using this form (click here) with your requirement and I will explain the options that are available to you in getting the best exchange rate.

FC Exchange

For everything you need to know about French property visit www.clefrance.co.uk

Add CommentViews: 346
Nov 23

Etiquette for Gift Giving in France

If you are invited to a French home this festive season for a formal meal or asked to pop-round just for Aperos then we have some useful tips and insight for you so you don't make too many gaffs, as I still do today!

Cle France and Gift Giving

Faye Boulanger at Flickr.com

Many people bring up the idea of cultural etiquette during this season of gift giving and receiving. For example, you might have heard that, in Japan, you should accept gifts with both hands. Or that it is common for Singaporeans to graciously refuse a gift several times before accepting it. It is important to have a certain level of cultural intelligence to make sure that you won’t mistakenly insult the person with whom you are interacting. But it is also important to realise that cultures norms are often very complex and do not follow monolithic rules.

What time should you arrive? this is a complex issue and unless you find out by making the mistake once and then applying the rule on future occaisions, it is difficult to know the local etiquette first time around. I think being 'on time' is the best default position BUT not in Mayenne department of Pays de la Loire where they have what is known as the 'Mayenne quart d'heure' where the polite time to arrive is 15 minutes late, yes late! presumably giving the host a little time to perfect the ambience?

I’ve often heard that it can be insulting to your French host to bring a bottle of wine with you when invited to a dinner. The idea behind this is that wine plays such an important role in a French dinner that your host has probably already selected the perfect bottle for your table. This is an “old society” rule and, frankly, most French hosts would take this rule with a grain of salt (or, in the French idiomatic expression: ils prendraient cette règle avec des pincettes).

The same goes for the rule that, when offering a bouquet, you must include an odd number of flowers in it; I’ve never seen someone count the number of flowers they have just received. Rather, most of the time, they are impressed with the generous gesture and will thank you by kissing your cheeks.

If you are invited to a French home this holiday season for a formal meal, it is considered good form (especially in Paris) to send them over the day before to be used as decoration for the meal or in the days following the meal, along with a thank you card.

So while it is important to be aware of different cultural forms of etiquette, it’s also important to know that these traditions are oftentimes flexible or depend on varying degrees of formality and friendship.

For example, I might send flowers ahead of a formal dinner with business colleagues, but not necessarily to a more casual dinner between intimate friends.

If you follow your own common sense and always act with kindness and thoughtfulness, you’ll be fine no matter what culture you find yourself in.

Just how do the French celebrate Christmas where you live or visit?

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Blog submitted by: David at The French Property Network - Cle France.

This blog was originally posted on The French Language Blog pages.

1 CommentsViews: 397
Nov 22

French Elections - Primaries

On November 20, primaries were held for the French political party Les Républicains (previously known as L’Union pour un mouvement populaire). France does not have a two-party system (although two parties, Les Républicains and Les Socialistes typically hold the power in government) and many different parties can present candidates for the presidential election in April. Because these parties can only present one candidate, they hold primaries to select who will represent their parties in the general election.

Like with the general election itself, if no candidate receives 50 percent of the vote, there is a run-off with the top two candidates. The run-off election will be held on November 27 (elections are always held on Sundays in France).

Cle France Blogs

Ex-PM Francois Fillon Leads French Conservative Presidential Primary

The results of the primary for Les Républicains were surprising. In a primary that pitted two former prime ministers against a former president, former president Nicolas Sarkozy did not receive enough of the votes to be selected by the party. He had previously been thought to be a strong candidate. The other two candidates–both former prime ministers–Alain Juppé and François Fillon came in second and first, respectively. Juppé had long been viewed as the frontrunner and his loss to Fillon by nearly 15 percentage points was surprising. Because Fillon received 44 percent of the vote, and was later endorsed by Sarkozy during his concession speech, many people believe that he will win the run-off election on November 27th and be a likely candidate for president.

The Socialist party primaries will be held on January 22, 2017. Three candidates are running for their party: incumbent president François Holland, prime minister Manuel Valls, and Arnaud Montebourg. Recent polling suggests that Socialist party voters are deeply divided between Valls and Holland. However, it is widely believed that the Socialist candidate will not win the general election because of current president Hollande’s deep unpopularity in France right now (in September, his approval rating hovered at 15 percent).

It is also widely believed that the other candidate likely to make it to a second round of voting in the general election is Marine Le Pen of the Front National party. The Front National is a nationalist party widely known for its opposition to immigration. The party has gained in popularity due to the refugee crisis and recent terrorist attacks in France, as have other nationalist, far-right parties in Europe.

Have you been following the recent primary in France?

Who do you think will stand as candidates in the general election in April?

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Blog submitted by: David at The French Property Network - Cle France.

This blog was originally posted on The French Language Blog pages.

Add CommentViews: 336

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