My french mortgage is 138K euro but I have received notification from my French mortgage company via the annual statement that my 'capital restant' is now 142K. i.e. considering what the amortization should be I am now 8K worse off. Of course I will contact the lender but I would be interested in your views/advice.
The whole
situation is so frustrating that some owners are considering simply
handing their keys back to the bank. Would this be a good idea?
This may be be of interest to this Forum's readers: http://54270joel.free.fr/rechproprio.php
This is a (French) website where owners that are worried about their rental income not being paid can get in touch with other owners.
It is nothing like this forum of course, yet it can be helpful to those who want to build up links with French leaseback owners and the various comittees that re being set up to defend investors' interests against the leaseback companies.
I have a general question that I'm hoping someone can answer with authority. It concerns the repayment of the VAT 'saved' when a leaseback property was bought.
My understanding is that you must repay a proportion of this VAT to the French government if, within 20 years of the purchase, you voluntarily break your lease with the management company and take the property out of the tourism circuit - that is, you decide to use or rent out the property as a 'normal' residence or as a privately-managed holiday home.
Hi
I am thinking of purchasing a french lease back in the South of France from Pierce and Elliot. The deal seems very good with very little money to put in and 3 weeks personal use per annum.
I would like to know if the lease back is good and I also wondered if anyone has dealt with Pierce and Elliot
Regards
Dan
Reg
I have a leasback mortgage with Barclays (solutions)at a variable rate which increased last year to 6.67% & is still at this rate despite the ECB rate being reduced 3 or 4 times since. I have emailed them but received no reply. Any advice anyone?
We own an apartment in Les Carroz and are looking for owners, other than those that we are already in contact with. Should we need to take further action in the future, it would be useful to have a unified group. K8
Hi,
I've recently been looking into the French leaseback scheme, and in particular the Village du Haut Val development in Normandy. It's a fairly rural setting, with golf, horse-riding etc on site. On the face of it the rental (5.5%) and incentives (6% cashback, legals paid) offered seem incredibly attractive. However, having luckily stumbled upon this website/forum I can see that the statement 'guaranteed rental' needs to taken with a large bucketful of salt.
The hotel industry....its about survival.
Unpleasant as it is.
http://www.hotelsmag.com/article/CA6643872.html?q=renegotiat ing+leases
In the past couple of weeks I have taken a lot of calls from people about how best to finance their EXISTING French property investment.
The main issues that arise are as follows:
1. I bought using cash or with a top-up loan in Ireland/UK and now want to take out a loan in France
2.I have a French loan and would like to:
Change from repay to Interest only
Take a payment holiday
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