The base rate cut in Britain yesterday may have the effect of helping investment in property across the channel, where investors may wish to buy Normandy property.

Speaking to French Property News, marketing manager of Currencies Direct David Mbaziira said the move will have helped to bolster the pound as confidence increases in the ability of the UK economy to cope with the recession, while cheaper mortgage products may prompt some UK property owners to seek to "relocate their assets".

He added: "Vendors and agents, particularly in France, will seek to capitalise on this influx and as an alleged European recession creeps ever nearer prices should stabilise."

Such a trend could help those thinking of buying Normandy property.

Having dropped to near parity with the euro around Christmas, sterling has bounced back in value during recent days.

Yesterday’s Bank of England cut saw the base rate cut to a record low level of 1.5 per cent.

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