English
FrançaisI am normally a UK resident and do still pay some tax in
the UK, however for the last 2.5 years I have been in South
Africa and do intend to return in about 2 years.
In the meantime I am looking at a leaseback property in in
France...
Assuming good financial state of affairs, what does anyone
think is the likelihood of my getting approval for a
mortgage for this? Anyone suggest what would be the best
company to approach?
Thanks.
S
Socks,
I'm a UK resident and I'm currently looking into a
leaseback property in France. I just found an attractive
mortgage with 85% ltv through Credit International. Their
website has a lot of information mortgages in France.
www.credit-international.combfremont41067.3900115741
A readvanceable mortgage is a home loan using
which a homeowner can invest the part of the loan balance paid off
(through monthly payments) in stocks, bonds or any other investment.
Once the borrower pays down a certain part of the principal and monthly
installments, the lender will readvance him the same amount so that he
can use it for investments. The interest on the amount that is
readvanced is tax-deductible as it is used for investment purposes.
Hope this helps...
Socks and bfremont
Before you buy a leaseback please take a look through this forum about the problems that many owners have faced / are facing.
The management companies of many leasebacks have gone into liquidation over the past few years leaving rent unpaid to owners. We have not received any rent from our management company Resitel (part of the La Grange group) for 6 months. We have been asked to sign a new lease which will reduce our rent and increase our share of the property management charges by 250% !
We have also found out that if you have a commercial lease but then don't renew it after the original 9 years then the management company has a reight to sue you for compensation for lost business ( so you would have to buy your way out).
Hope it all works out for you but go in with your eyes open!
We did go into this with out eyes open having read about the problems here....
Ours (Ker Goh Lenn in Plescop) completed some 18 months ago and so far the management company have been paying on the appointed date every 3 months.... however we have noticed that they are not very fast at replying to emails etc...
So far so good but fingers crossed.... I'll admit that I would never deal with the French legal system again for a whole range of other issues.... such as this so called progressive country not allowing me to do anything without my husbands signature.... and insisting on addressing me by my husbands name despite being legally known by my maiden name... but that is completely aside...
best company is info@clvfinance.com.
regards
Dear Socks,
We can help you to get a mortgage in France according to your financial situation. Based in Paris, Dublin and London we are specialised in non-resident mortgages. We can provide you a personalized service. Our experience of the French mortgages will enable us to obtain the best mortgage with a competitive rate for you.
If you have any question please feel free to contact me.
Mathilde
A Mortgages40014.4385532407