Remortgage French Property - Impossible?

[Fontremy]

Has anyone managed to successfully re-mortgage a French property. It doesn't seem the done thing over there and two advisers I've spoken to say it's not possible. This I find hard to believe (or do I?).

Any comments would be helpful as this will determine which option I take on a new French mortgage.

FR

[Rita]

Hi,
We have been using a guy called David McDonald for our Mortgage he has been absolutely brilliant. Don't know if he can help with this one but it may be worth a try. He is based in France and his e-mail address is:[email protected]

Just e-mail him and tell him Rita says Hi!

Hope he can help

Rita

[Alan]

we currently have a mortgage with the CIC , and are re-mortgaging with the CA

[Richardbk]

remortgaging in terms of raising more capital does not really exist to the same extent as the UK, since there is no real notion of mortgage against value of the property. You simply borrow an amount to buy a house. Whether the house is actually worth the amount you pay is largly left to you, although the banks will do a rough check based on average price/m2 to make sure the price does is not excessive, but they will usually never check the proprty itself. If you want cash to do some improvements etc, you noamally simply take out another loan - where interest rates can be practically the same as the mortgage rate.

regs

Richard

[Shanks]

Try www.french-mortgage-advice.com they will sort it out for you.

[Jc]

In France it is not usually a mortgage against property but a loan against income;so,in theory,you can have as many loans as you want if they are satisfied that you can repay them.