A lender operating in the French market has launched a 100 per cent mortgage product for overseas buyers, a move that could boost those keen on buying Normandy property.

French Mortgage Direct is offering the deals to those purchasing homes anywhere in the country, with rates starting at 5.3 per cent on a 15-year fixed-rate basis.

Director of the firm Sharon Hill said this is good news for buyers whose plans to acquire a home in France have been affected by the weak pound, which has made saving for a deposit in euros costlier.

She remarked: "A 100 per cent mortgage will go a long way to help enable the purchase of a French property and could help dreams come true."

Normandy property buyers may be among those looking to take up the offer.

Another factor that could help lower costs for those seeking euro mortgages in Normandy and elsewhere is the recent trend for the European Central Bank to cut interest rates.

The most recent trimming was a 0.5 per cent reduction announced last month, which lowered the main refinancing rate to two per cent.

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