Tasha Posted May 13, 2004 Share Posted May 13, 2004 We own our french property outright, is it possible to raise a mortgage on it? I did post a question in the finance section but havent had the question answered so if anybody knows the answer it would be very helpful. Link to comment Share on other sites More sharing options...
Teamedup Posted May 13, 2004 Share Posted May 13, 2004 As far as I know, no you can't do this. Not even sure how keen a bank would be to use it as collateral either, as when we mortgage, we often have to hypothicate our loans here. Link to comment Share on other sites More sharing options...
Jc Posted May 14, 2004 Share Posted May 14, 2004 French mortgages tend to be based on earnings not property. Link to comment Share on other sites More sharing options...
Camille Posted May 15, 2004 Share Posted May 15, 2004 These replies are perplexing (other than the ability to repay part). There is absolutely no reason one should not get a mortgage (a French one) on property of value provided the means to repay fit within the French lending norms and the applicant qualifies. There are also presumably equity release schemes, though I have no specific experience with that as I am on a mortgage for my second home outright, as well as with mortgage on my principal residence. A UK loan I could more understand would be a problem on a French property. Can anyone elaborate a little more?Camille Link to comment Share on other sites More sharing options...
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