13 amp plug Posted October 17, 2008 Share Posted October 17, 2008 Anyone out there know anything about the possibility (and whether it's legal or not) of a house exchange between France and the UK? It would seem a sensible plan if one were thinking of relocating back to the UK in light of the current problems with the housing markets here and in England. Assuming of course both parties had what the other required, it could save a fortune in agents fees in both countries and possibly take the trauma out of trying to find a buyer. There seem to be many Brits who would still love to move here but would be unable to sell in the current climate in the UK. I wonder if any CGT would still be payable and if money has to actually change hands. Any information? Link to comment Share on other sites More sharing options...
Scooby Posted October 17, 2008 Share Posted October 17, 2008 Just a note of warning - there are specific rules for calculating the UK chargeable gain arising when assets are exchanged. Each party is deemed to dispose of the property at its market value plus any cash consideration received. Might not be an issue if each property is the principal residence of the transferor - but worth looking into if not. Link to comment Share on other sites More sharing options...
13 amp plug Posted October 17, 2008 Author Share Posted October 17, 2008 Thanks Scooby, that's a very good point although I was imagining a scenario where both properties were principle residencies and of roughly equivalent value. I guess I was trying find out if it's actually possible or if it were "interdit" Link to comment Share on other sites More sharing options...
Anton Redman Posted October 18, 2008 Share Posted October 18, 2008 Not forbidden but near the edge as you would need to find pretty flexiable Notaire as all the consideration/money for a house sale is meant to flow through theit books. Also assuming you need to look at 18 houses before you find one that suits you and the person looking to move to France is similarly choosy you are looking at at awful lot of visits before you find a suitable pair. Link to comment Share on other sites More sharing options...
13 amp plug Posted October 18, 2008 Author Share Posted October 18, 2008 Thanks Anton. I suppose it all depends on how keen you / they, are to get to where they want to be. I don't know anyone here in France that didn't make some sort of compromise with the the house they bought. The "dream" seems to outway some of the level headed thinking sometimes. Still, worth investigating. Someone could be lucky. Link to comment Share on other sites More sharing options...
rogerthedodger Posted November 20, 2008 Share Posted November 20, 2008 Quite coincidental really-the following details made me wonder...? http://www.houseladder.co.uk/Property_News/2008/11/Cant_sell_your_house_1292.aspxOur former neighbour arranged a 'part-exchange' with our current neighbour in UK to reduce stamp-duty. I guess it would be a lot more complicated to do this between UK & France. It could be quite fun to do a sort of 'holiday exchange' with potential swop or part-exchange if agreement could be reached! The 'fun' would be free holiday and the chance to check out the house and the area & maybe even include car(s), tv & the hifi in the deal! Sounds a like a great idea to me Or maybe a daft idea?Perhaps there is or should be a website to facilitate this? Link to comment Share on other sites More sharing options...
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