makeiteasy

Pretty good!!! Rate is subject to the amount borrowed and duration but available for information between 3,66% to 3,98% (available for the 8/8/05 , variable and without insurance and different fees...so contact me to get a quote  for your case) Céline www.makeiteasyconsulting.com

Yes and no... In fact it's not banks(even less french one) which allow to remortgage houses but some building societies i'm working with... So teamedup, you're absolutely right and unfortunately rules haven't changed. Céline www.makeiteasyconsulting.com  

Dear Leroy, your question is easy: if you give an information to a bank you have to give in the meantime the proof of it(ie regarding your income if ou pretend earning such amount you have to prove it with a P 60 or your profit and loss more a letter from your accountant).Moreover, your bank statement will be put under a microscope and your salary or your drawings have to appear on it too.And it's the same for expenditures!! Then the decision is really subject to each bank...If the decision could be managed by the office manager it could be fast(in France fast is arround 1 and 2 weeks:whistling but if the decision should be given by the head office it could take quite a while...:crazyestimate of a while:between 2 weeks and eternity) if none as me follow your file and urge them regularly!!! Regards. Céline MONIER www.makeiteasyconsulting.com    

Dear Tracyk, please find more explanation below(paste from a brochure done by a bank): Buying a property in France through a French non-trading property company (Société Civile immobilière or SCI) can be beneficial. The principal advantages of a SCI are that its shares can be simply transferred to new owners and after the company has been established for three years, stamp duty is lower than it is on direct transfers of property. On the death of an owner, shares in an SCI are treated as movable assets and can be bequeathed in accordance with the laws of the owners place of domicile, thus avoiding the restrictions of French succession law. If you plan to buy a property through a SCI, this should be done at the outset and ail advantages and disadvantages must be considered in advance. One concern for example is that the British tax authorities consider that a taxpayer who owns shares in a SCI may be deemed to be an employee of the company and therefore receiving a taxable benefit in kind for the use of the property. ADVANTAGES REGARDING INHERITANCE The creation of a SCI avoids the application of the French Civil "Heir ship" rule. As a consequence of the SCI, the law of the country in which you are a resident at the time of death prevails. However, French tax law will apply and your heirs could be liable for French Inheritance Tax. From a French point of view, managing the SCI would be a solution to keep a certain control of thé property. If thé children are also implicated in thé SCI, the survivor spouse would be able to keep a control on the property that would be inherited by thé children.           ADVANTAGES REGARDING WEALTH TAX You will be allowed a deduction of approximately 10% of the taxable value for French Wealth tax purposes as the property is not owned directly by you but through a SCI.   Hope it will help Céline Monier www.makeiteasyconsulting.com  

Hi,   i'm sorry to bother you but i've an unexpected journey to organize in gorges du tarn and have to book a night for the 13th august for 2 adults and 2 children(5 & 6). If anyone has an idea because all chambres d'hotes i've already reached are of course full as hotel Thanks for your help! You could reach me by phone or email(available on my website) Céline www.makeiteasyconsulting.com  

Dear Leroy, each bank is an individual entity and each is the King of is kingdom! I mean that if you apply for a mortgage in a bank and wish to apply for a mortgage in another one, there are no link between them and if one refuse, the second one is not informed about the decision. But in your case, you want to apply for a remortgage of your french house to reimburse you mortgage in UK, and here could be the problem because very few banks in France allowed to remortgage houses, because it's unknown and unused in France. I might be able to help you if you need... Good luck! Céline www.makeiteasyconsulting.com  

Hello Blade, yes i confirm that it is just a normal mortgage.Nick's explanations are very good and you will probably be asked to provide your last 2 years balance sheets and/or profit & loss for your income. Céline www.makeiteasyconsulting.com

Hi again, i don't want to debate but i'm shocked by Weedon's reply!! Of course anyone who wants to start a business in France, and not only a B&B but all kind of businesses has to be very careful and has to listen to the differents pieces of advice he could get( but because i'm a credit broker it seems that mine can't be?)!! I completely agree that if anyone has cash to start with that's the best, but whatabout the others? Should they stop thinking and expecting to live somewhere else or doing something different because they haven't enough money?? Again, i don't mean that setting up and managing a business in France is easy, nor for french, but if you balance all the differents informations and at least think it's a good idea, why not trying? And i repeat that banks are lending money to project which are able to survive and make profit... And at least, in Uk and either in France, do you think that a lot of businesses are settled without borrowing one pound or one euro?So why is it a bad thing in France and a good one somewhere else? I guess that each one is different and each one should have the choice of choosing what he wants subject to the fact of being realistic, of course! Céline

Dear All, i'm just coming back about what i've read about banks and mortgages/loan. First of all, i've never said that Fay will have or not a commercial loan for purchasing the B&B because at that step i don't know whether or not the income provided in her forecast(which should be done by a french accoutant in association with her to make sure that figures are realistic) is enough to pay the loan and either to live with it!!! And i'm amazed by Maggi's remark because so many people are consedering that getting a mortgage/loan in France is the devil of a job !! I would say that now there are so many gîtes, B&B and chambres d'hotes that banks are less and less confident to lend money for this kind of project BUT if they find that figures are realistic, if people have original ideas to promote their gite/B&B and know their stuff and at least could provide enough and good income, there's any reason to say "NO".They are just logical and won't lend money to someone who's not able to repay them,it's fair!!! Banks are looking at figures but either who you are, what is your experience to manage that business and it is as much important as figures if not more...  So i won't be pessimistic as others but my advice is:" just be realistic, don't think that it would be easy because you would change all your marks, but it is a real challenge and you could be very happy at the end of the day" Good luck!!! Céline

Hello Fay,   i don't know if Will is talking about me but regarding your first question yes it exists someone to help you for your commercial loan, me!!! Thanks to look my website because i'm not allowed to advert here, but i'm sure i'm the right person!! Regarding the deposit, you could negotiate with the notary and the vendor to pay less than 10%, try and see...BUT don't accept to sign your compromis de vente without the clause suspensive about getting a loan from a bank!!!I've seen so many people losing their deposit because of the pressure put on them by the estate agent or the vendor or just because none explain them that it exists It's the only way for you to get your deposit back if for any reason you can't get your loan. So hope to speak you soon. Céline Monier

Hi, in fact a "convention de compte" is just a contract explaining how your account should be managed, what are the normal rules to use it, what you should do if you need an overdraft, etc...so at least nothing new, but banks are obliged to provide it and to prove that you got it(that's the reason they ask you to sign it and send back to them). Since 2 years banks are obliged to provide that "convention" when you open your bank account but if you had open yours before they are obliged to send it to you. I hope it answers to your query Céline

Hello Bizzer, i've looked on google.fr and there is a lot of link to business angels in France or E.U: www.franceangels.org www.eban.org These are just example but sure you could find some others on internet.Good luck!! Céline

Hello, perhaps it's a bit far away but mine is in Sarlat, it's Robin in la"boit'a coup'" and he's the only one authorized to dress my hair in the area.I could really heartly recommend him(i'm not at all snob but i've lived in Paris during 7 years and i've a certain idea of what i want to look like!!). Hope it could help   Céline  

Dear Jenny, if you want i could help you to know if you could get a mortgage in France and what is the maximum you'll be able to borrow regarding your income, because i'm a french credit broker. So don't hesitate to contact me if you need and i'll be very please to help you and anyone who's in the same situation Céline

Hi lausha, yes if CA agrees that you could get another cheaper insurance somewhere else, try it. In fact it's not an "assurance vie" but an "assurance décès, invalidité" that you are looking for(the first one is a saving account and the other one is an insurance for death and disability and be aware that you WILL NEVER GET BACK YOUR MONEY that you pay in your installment). Comparing insurance is a good point but when you say that you have a very good rate have you compare with french banks or british one?Have you check how much fees they ask you to pay and at least what is the T.E.G which include all that and at least could make a huge variation? If you are lost, don't hesitate to come back to me regarding that i'm used to deal with all those things as it's my job!!!Look at my website! Céline    

Hi, if you need advice on taxes i know a bilingual tax adviser and lawyer too.Her name is Sabrina Toscani and you could reach her on 00 33 5 53 31 92 60 or 00 33 6 83 37 25 16. One of my client use an accountnat with a bilingual staff and he seems really happy with them too.It's "Grant Thornton" and you could reach them on 00 33 556 02 67 22. I hope it will help!!!  

Hello Snowey,   does your friend need a life insurance or "assurance vie" to guarantee his mortgage or bridging loan in France? Because some banks prefer to have a guarantee on it because it costs less fees than a classic "hypothèque" and they have the capital to repay it anyway!I guess that it's something like that...Could you give us more detail?

yes you could but you will pay fees to pay your cheque in your account more fees for the exchange rate(check if they charge a percentage or a fix amount but often it costs a fortune).So probably a stamp won't cost so many money Céline

Hi Nokianut, good question!!! First question:do you speak french? If yes, i recommend you to open your bank account in a branch near your place because it's easier to manage your account and to deal with your adviser if you need information or have any problem. If no, it should be more cautious to open one with a bank which has an english speaking staff. Of course, the famous Britline is very known but if you want to pay cheque in your account you can't manage it from a local branch, because there is no connection between credit agricole and britline.Call or meet different bank in your area and ask them if they speak english or know anyone who speaks english(more and more banks are training people to speak english or have create a special branch for overseas clients). I remember you that in the "3 old one"(les "3 vieilles" en français) which are Société Générale, BNP Paribas and Crédit Lyonnais you could access & manage your account from any place in France. I hope it will help!!! Céline Monier    

Dear Nina,   yes you have different options: you could of course remortgage your house, but either in France you could have a bridging loan which could be interesting if you intend to repay it within 2 years. Another solution could be to get an interest only mortgage thanks to the fact you have 25% deposit(also named "pret in fine") or at least just have a "normal"(for french people)mortgage including repayment of capital and interest monthly.Of course, there are specific rules to respect in France to set up your mortgage, but if it's allright just make your choice If you are still lost, don't hesitate to contact me by email and i'll explain further all those options. Cheers.   Céline MONIER  

A french credit broker has settle relationship with different banks and credit companies(french and english one) which propose him(or her) some rates and conditions which are already negociate to propose the best offer for his/her clients. He (or she) helps you to set up your mortgage application and precise what are paperworks required by banks and explain the process which is really different from UK. He/She does his/her best to guide you but of course leave you completely free to choose which offer you prefer(if several proposal have been offered, of course)! Clients will have to pay brokerage fee(it could be a fixed amount or a percentage, depending how your broker has choosen to charge) but on the other hand you don't have to meet several banks in one day, don't have to try to understand the person in front of you and try to be understood(according that you speak french, or the person speaks english!!!), then explaining your project, and if you are very courageous trying to negociate your rate and bank fees! In very few time, sometime just some minutes are enough, your credit broker will have contacted several banks to find the best proposal subject to your status, without any hassle, without being obliged to have a day off to meet different people in different places. To conclude, you save money, time and hassle and at least have find a way to finalize your project!!

dear steve,   I'm a credit broker and i don't know if you visited my website or not, and that's right that i don't have mentionned that i manage commercial loan too. So if you want to contact me, it will be a pleasure to help you!!! Hope to speak you soon   Céline

Dear Andrew,   why don't you create a SCI with your father to buy it? Please find below what is a SCI and the advantages : BUYING THROUGH A COMPANY Buying a property in France through a French non-trading property company (Société Civile immobilière or SCI) can be beneficial. The principal advantages of a SCI are that its shares can be simply transferred to new owners and after the company has been established for three years, stamp duty is lower than it is on direct transfers of property. On the death of an owner, shares in an SCI are treated as movable assets and can be bequeathed in accordance with the laws of the owners place of domicile, thus avoiding the restrictions of French succession law. If you plan to buy a property through a SCI, this should be done at the outset and ail advantages and disadvantages must be considered in advance. One concern for example is that the British tax authorities consider that a taxpayer who owns shares in a SCI may be deemed to be an employee of the company and therefore receiving a taxable benefit in kind for the use of the property. ADVANTAGES REGARDING INHERITANCE The creation of a SCI avoids the application of the French Civil "Heir ship" rule. As a consequence of the SCI, the law of the country in which you are a resident at the time of death prevails. However, French tax law will apply and your heirs could be liable for French Inheritance Tax. From a French point of view, managing the SCI would be a solution to keep a certain control of thé property. If thé children are also implicated in thé SCI, thé survivor spouse would be able to keep a control on thé property that would be inherited by thé children. * ADVANTAGES REGARDING WEALTH TAX You will be allowed a deduction of approximately 10% of the taxable value for French Wealth tax purposes as the property is not owned directly by you but through a SCI.   I hope it will help you!!!Otherwise contact me, with my job i could perhaps be usefull!!! Céline Monier

Dear Dun,   if you have different jobs, they want to know what is your main one, and/or the one which makes you earn the more money if really you can't make any difference. I hope it will help you!!! Céline  

Dear JCC,   I' m a french broker working mainly with british clients. I've a partnership with an english broker too, and i can really maintain that french rate are really lower than british one at the present time(nearly twice less).If you get your mortgage in France, you would in the meantime secure your purchase price against the fluctuation of the £ against the € too. That's the reason i really understand that you could find very long to wait between 2 or 3 month(because of the process, the cooling off period, ...)to get your mortgage and have to come back again with more paperworks to your bank instead of just coming in your english bank and say"hello, i'd like to borrow 100 000£!!" but don't you think that those 2 or 3 month that you spent are nothing compare to 20 years with a really higher rate? If you have query, please don't hesitate to contact me.   Céline MONIER