B&B plus mortgage

[Daley]

    Firstly, I apologise if this question has been asked before.  I have been through the forum archives looking for my answer and haven't found it.

I want to buy a house in France and to supplement the re-payments and to keep my wife focused (she has already had one experience as a trailing wife and didn't enjoy it) so we want to set up a B&B.  I plan to continue working as a B&B will not support us, so we will not be dependent on the B&B, but anything we earn is a plus.  I have made some enquiries with reference to mortgages and it seems if I intend to use the house as a business I can not have a mortgage.  My question is "is there a way around this"?

Thanks for reading

Dale

[Nick Trollope]

Of course there is;

If you can afford the repayments (French rules apply...) without the B&B income, then don't mention it. You will be allowed to have a B&B - which is not really considered to be a business.

If you can't afford the repayments without the B&B income, then you will need a "commercial" mortgage - but think carefully as B&B's are notorious money pits as far as banks are concerned.