General Discussion

exit

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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.

VAT on "Free" Weeks

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General Discussion

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.

Termination of lease by Odalys (Bastides de Grimaud)

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General Discussion

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.

Getting out of lease and Loi Montagne Article 42

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General Discussion

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

sold my leaseback

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General Discussion

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.

EU Commissioner for Consumers, Vera Jourová, calls for investigation

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General Discussion

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

Lodging a Formal Claim for mis-selling of French Leaseback Property

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General Discussion

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.

for those whose leaseback term is ending

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General Discussion

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.

Great Work Being Done to Highlight French Leaseback Scam

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General Discussion

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/

What happens at end of 2nd lease period?

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General Discussion

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?

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