Hi,
We are hoping to exit our lease in 2 years time. It is with CGH. This is an extract from an email from CGH when enquiries were made made about the terms of exiting the lease:
De plus, le proprietaire se verra solliciter d'une indemnité d'éviction (deux à trois ans de Chiffre d'affaires) si d'aventure il ne souhaite pas renouveler son bail
Hi All,
delighted to say I have sold my leaseback, had it for sale on and off for 3 years. Lost out on a couple of sales due to the poor standing of the last management company we had, had to took it off the market when we were in sauvegard. That management company went into liquidation and the management of the apartments was taken on by a new management company.
We made a financial loss on the sale of the apartment but were able to pay off the outstanding mortgage from the sale so thats something.
6 April 2017:
In response to UK owners claims of mis-selling, Vicky Ford MEP, sent a letter to Commissioner Věra Jourová, Commissioner for Consumers, explaining the experience of victims and asking the Commissioner to investigate. She also spoke to Brian Hayes MEP who has supported Irish owners in this regard with engagement with the Irish CCPC.
Specifically examining the possible infringement on three aspects of EU Directives:
1. Mis-selling of the properties
Hi All
As well as having lodged a legal case in France in 2014 against various parties, I have ths evening lodged a formal complaint with the Irish Competition and Consumer Protection Commission (CCPC). Its easily done by going on to its website and/or writing a formal letter which is what I have done.
The tide is well and truly turning in this debacle as many of you are aware with high level political involvement now occurring in both Ireland and the UK alongside the EU Commission.
Oustanding work is being done.
I am investigating the costs of leaving my leaseback with Eurogroup, I just got information from one lawyer I was dealing with that I could have got out of my leaseback without paying compensation if I had sent a registered letter stating this 6 months before my term ended. I contacted Eurogroup on several occasions saying how unhappy I was with this contract and I was just told all the time that I would have to pay compensation and so I missed this deadline.
Make Sure if Your Lease is Near the End and You Want to Leave that You Get Legal Advice It Could Save You 1000's.
Dear All,
Fantastic work being done to get EU agencies to investigate the most legalised fraud in Europe. i.e. French Leaseback. Join the campaign after reading the latest news:
http://www.frenchleaseback.info/blog/
Hi, does anyone know what happens at the end of the 2nd lease term (i.e. after 18 years)? We renewed our lease for a 2nd term a few years back. We were happy to do so even with a reduction in rent as it still covers the mortgage with a little bit extra left over. We are planning on seeing the 2nd lease term to the end as the mortgage will be paid off at that stage. What happens then? Are we free to do with the apartment as we wish? Will the mgmt. company have the right to renew the lease for a 3rd time?
I came across something on change.org
a women called Jennifer molphy contacted an Irish MEP Brian Hayes who has taking huge interest in this scam.there is also an uk MEP hopping on this also
I know this topic has been mentioned many times in forums on this site mostly dating back to 2011 and 2012 but if a person defaults on a mortgage with a French bank on a leaseback can he/she be pursued for his/her assets in Ireland?
Can people who have defaulted already please answer that question honestly?
Hi,
I have received a vat bill of 3000euros in relation to the rental income on my leaseback, it is ridiculous as the rental income doesnt even cover the french mortgage, plus we have accountant fees, tax fonciere and continually top up the mortage to cover it. Anyone in similar situation?
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