Mel

The tax relief on interest payments law was finally enacted on July 13 and the revised, revised, revised arrangements are your income tax bill reduced by an amount equal to 40% of the mortgage interest paid in year 1, and 20% for years 2-5. There are now quite a lot of restrictions, like it only applies to principal residences, it only applies to mortgages taken out after 6 mai and the total 5-year amount is limited depending on your family circs. Oh, and you have to be paying French income tax before it can be reduced! BTW, there are apparently 415 other tax reliefs currently available...... Mel

Hi Tricia (Peggy) 100% mortgages certainly exist in France, even if they aren't advertised. You should let a reputable mortgage broker find the best French mortgage for your circumstances. There are English speaking brokers working in France and they're easy to find on the net. Another suggestion for you to mull over (well, you did say Scottish!) - why not buy a more modestly priced property? KR Mel

Hi B&K I'd say definitely go for the French mortgage option. There are all sorts of mortgages out there: fixed, variable, interest-only, introductory offers. Expect to pay more (in the long run) for anything fancy. An English-speaking broker working in France will be able to find the best French mortgage, just check them out on the web. One word of warning. There are two types of English-speaking broker operating in the French market - those that charge you mortgage arrangement fees as well as keeping the bank commission and those who don't charge client fees. Don't pay twice for the same service!   Good luck, Mel

Hi I don't quite agree with Missy about viager libre; my understanding is that the property WILL be empty and therefore you can put another tenant in it (or even use it). The owner may well be in an old people's home, so the "rente" is better for them than sale proceeds of the whole thing. The cafpi site www.cafpi.co.uk has more info, as well as noting some of the advantages and disadvantages of this type of French Property Investment. Personally, I don't like the idea of waiting for someone to die before you get your property - you would wake up each morning thinking ... "here's hoping"... Best Mel

Hi Roseysan It's possible to get insurance (which is compulsory on most mortgages) up to age 70 of the youngest borrower - maybe your partner, if you have one, could be insured for longer than you? A good broker (eg www.bestfrenchmortgage.com) would know his or her way round the insurance issues. If you haven't got a partner, France may not be the best place to set up retirement - it's rather couples-oriented in my view. Mel

I agree with Dick that the Mairie is a good place to start: they should be able to direct you to the local Tresorerie (smaller & probably more local than a Centre d'Impots). Ours have always been very helpful. My understanding was that a TV would be charged for UNLESS you ask (in writing) to be excused.  By the way, the people that used to do the TV licences, at Rennes, now do speed camera fines!

I agree, going direct can be quicker and you can get excellent service provided you know about all the "extras" that can be negotiated, such as EXO IRA early redemption penalties' exemption.

Most of the additions to the purchase price, such as the IPPD registration are unavoidable. I know someone who was charged 1.5% of their mortgage value by a French mortgage broker, just to be introduced to the English department of a French bank! I don't want to see Yoshie go the same way. Kind rgds, M

Hi Yoshie Both the IPPD and a hypotheque equate to a first charge on the property. IPPD is the term used for an exisitng property, hypotheque for a new or off-plan (VEFA) acquisition. The cost is calculated from a "bareme" (scale charge depending on price and age of property), ie it is not negotiable; the Notaire will collect it from you. If the brokers knows what he is talking about, he can explain it all to you. The bank "garantie" is an additional charge over and above the Property Finder's fee, Estate Agent's fee, the Notaire's fee, the bank file fee and the broker's dossier fee if charged. Worth searching out a broker who doesn't charge you a dossier fee, I'd say. A good place to start is www.bestfrenchmortgage.com Bienvenue en France, Mel

Hi JRL Euro mortgages are certainly cheaper than UK ones, and it makes good sense to match your assets (house) to your liabilities (mortgage). In addition to going direct to French banks, it is easy enough to find an English-speaking mortgage broker working in the French financial sector to do the work for you. A word of warning: all brokers receive a comm from the bank, but some charge you, the client, as well! When you are researching, be sure that you end up with a broker that promises no dossier fees. Market practices are examined in the Consumer Guide on www.bestfrenchmortgage.com Rgds, Mel