Hi,
the Victoria Derbyshire program is due to air a piece about the French leaseback issues tomorrow morning (27th Sept). The program airs from 9am to 11am and the piece will likely run around 9.30.
Irish journalist Diarmaid Condon, who has written extensively on this issue, is scheduled to contribute also.
First piece of UK media that I know of, and a great show to see it on.
Lets hope the CMA are watching !
Hi All, I am new to the site but after reading some of the articles I see we are all in similar positions. My husband and I purchased a properrty in Paxton back in 2007 we took out a french mortgage for approx 2/3 of the total cost. Everything was good untill we had reduced rent in 2011 , unfortunately after much debate with Accelis Gestion we were bullied into signing new agreement . Luckily we never had any delay in payments and have always managed to keep the mortgage paid.
Hi everyone,
The lease with the management company is coming to an end in October 2018 in this residence. Owners need to give notice to end management 9 months in advance meaning the latest of end of January 2018.
I know two owners interested to get out of this and was wondering if anyone else interested? also if any have done it already?
Regards,
Eddy
Hi
I am an owner in Residence Paxton, nmanaged by Accelis Gestion.
I just got a letter proposing a reduction to in rent to 2.5%.
Accelis Gestion claim that they need to reduce the rent in order to keep the Paxton business going and to pay for upgrades, etc.
This is my second reduction. In about 2011 my “guaranteed rent” was reduced to 3.5%.
Just wondering if you’ve had experience of this before and if you refused to accept the reduction?
If so, what happened? Was the original "guaranteed" rent maintained?
Trying to do my UK tax return and for the first time will report income from my French leaseback. It seems there are 2 options: 1) UK property section under furnished property lettings in the EEA 2) Under the foreign Section. I tried calling the HMRC and asked them but they were not very helpful. What does everyone else do?
Can anyone tell us if when a letter for six month termination has been sent in the correct way by a solicitor to the management company and was accepted, At the end of the six month period the company say no agreement has been reached, re compensation can they legally still use your house. While negotiations are still going on. As we feel when six month notice is given the house should not be used until an agreement is reached. The management company fail to responed to emails or phone calls from either ourselves or our solicitor. The managment company continue to rent out our property.
Hi I have recently bought a property from MGM (if I had read this site first, I wouldn't have!). I am just about to receive my first payment for the property. MGM are saying that I must pay a notional VAT on my "free" weeks which will be deducted from my rent. They are saying while I do not pay anything for these weeks as part of the leaseback agreement, they have to declare a notional rent to the French government and pay VAT and they are passing the VAT onto me. Can anybody let me know if their leasing companies do the same. It seems highly dubious.
Hi all, just received formal bailiff notice in duplicate from Odalys advising lease will cease on 31st December when 6 months notice expired. There is (allegedly) an offer on the table from another company at 30% less rent which I will NOT be accepting largely due to the sound advice received from fellow forum members and Seamus in particular. I belive I can from 1/1/18 either use it myself or sell it privately but will have to pay back proportionate VAT. However, I'm considering continuing to let it on my own for holidays/short term lets so the VAY doesn't have to be re-paid.
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.
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