General Discussion

French Banks' Lending Criteria

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I read somewhere that French lending institutions will not take the future earnings from rented property into account when calculating how much they are willing to lend to prospective buyers. Has anyone had practical experience of running into this problem ?

Surely they are being too cautious, especially as rental income is guaranteed under the leaseback scheme.

If it is true, I will need to raise the purchase price through other means (within reason of course - I won't get carried away)

Will keep forum posted about how I get on

Corsica Leaseback

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Hello. new member here.

Just found this site while browsing for info.

I have been interested in the leaseback concept of a while now and have finally found the right property. The only trouble is that it is in Corsica. Aparently a 'leaseback' in Corsica isn't the same as one on the mainland. The main difference is that you can't claim back the VAT. The good news is that VAT is only 8% so it still looks a good deal.

I was wondering if anyone else had any info about Corsican Leaseback developments that I should be aware of.

Development Cote D'Azur

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I've a deposit paid for a Leaseback since Oct 03, to date the building work has not started. The start date for same has been put back a number of times due to planning issues but I'm still keeping positive. Has anyone experienced a situation similar to this ??

will my rent pay the mortgage

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This is more of and added question rather than any advice as this is pretty new to me. But my qestion is:

If you were to get an 80% mortgage on a leaseback property, would you expect the rental income to pay for the mortgage. Or would you expect to also fund the mortgate out of you own pocket as well for the initial couple of years?

Regards

Tony

Taking the plunge!

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General Discussion

Hi

Watch the index !

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General Discussion

Keep an eye of the details of the rental indexing offered, some are 75% of the INSEE index each year, some are as low as 50% of the index applied very third year. Maybe some offer 100% !

Consider the situation when you want to sell - what will the yeild be to the next investor if your rental growth has fallen behind the capital appreciation (your expected sell price).

leaseback resale

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Hi, Got to know about you via Marina's post on another website and promised to post on this, so here it is! Me and hubby bought a leaseback apartment with Pierre & Vacances on the Cote D'Azur. We didn't buy from new but the original buyers wanted to sell so we bought 'second-hand' from P&V. They do sell from older developments but you have to go through their Paris Office because these resales aren't advertised as the new-build properties are. It's worth exploring as we found the resales were cheaper compared to new build.

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