Butterfield Bank Guernsey has launched a new French property loan service for clients who are purchasing or refinancing high quality residential property in the country.

The loans are available from €750,000 to €10 million and are typically a maximum of up to 50 per cent of the property value, subject to valuations which are done by UK Estate Agents which have a French presence.

Interest rates are charged at 1.5 per cent – 2.00 per cent per annum above the euro refinance rate and loans can be taken out for a period of 1 to 15 years.

There is an upfront fee of 0.5 per cent, and interest only terms are available.