Yorkshire Lad

[quote user="Scooby"][quote user="Yorkshire Lad"] Outgoings once the UK house is sold will be about £900 - most of which is a personal loan. [/quote] Why not repay the personal loan from the proceeds of your house sale?  You will be paying much higher interest rates for a personal loan than on a euro denominated mortgage. [/quote]   For an intelligent bloke I'm a little slow sometimes - that would of course solve the problem -= although would leave us with a smaller deposit. The other possibility is renting for a year which is probably a good idea anyway. Depends on how fast French house prices are rising. Thanks!

Hi, A real relief to find this forum. We've been hit by the credit crunch and our UK mortgage is going to increase from aroound £1300 to £1800 a month thanks to being with Northern Rock. We could remortgage but are taking this as fate giving us a kick up the backside to follow our dream to live in france. Not as dreamy as it might sound - we're in a half decent position (I think - I hope) Kids both under 3, I run a web design business (working from Yorkshire but most of my clients are in the US) so can work anywhere with internet connection. The business is a UK limited company and we bring in (net) about £3000 a month. It'll stay UK based and just pay into our French bank account - myself and missus are directors. Outgoings once the UK house is sold will be about £900 - most of which is a personal loan. So income is £3,000 outgoings about £900. We'll have around £50,000 equity from the house. I'm sorry to be a bit northern :-) but do these figures add up to being able to get a French mortgage? Credit is fine in the UK - are we better off getting a French mortgage (I have a feeling they won't lend because of our £900 outgoings) or trying to get a UK mortgage IF they'll lend for what will be our only residence in france? Thanks for any comments. Tony