Agents fees

[meiklejohn]

Hi

I'm sure this has been probably asked before so apologies in advance

When a property you would like to buy includes agency fees, is this the amount you would be allowed to mortgage on or would the fees have to be paid from your own cash reserves ?

Or if the buyer is liable for agency fees can an arrangement be made where the seller pays the agents fees but is given extra to cover these fees within the purchase price of the property?

PS - Is this the right section of the forum to ask this? I asked in another section but had little response?

Is this a question regular posters are sick of being asked?

[Russethouse]

Did you try the Search facility at the top of the page ?

[Will]

You got a clear, informative and authoritative answer when you asked the question here yesterday. The person answering you has been working as an estate agent in France for eight years.

To summarise, it has previously been normal practice not to include agency fees in the mortgageable amount, but Judie recently dealt with a client who had been able to include the fees in an 85% mortgage. So I would imagine that if you wanted to borrow a greater percentage (and even pre-credit crunch, mortgages of 90% or more were relatively uncommon in France) the answer is no. I am sure that Judie would be able to give you an idea about the co-operative lender if you asked privately.

[meiklejohn]

Thanks people

[dragonrouge]

Essentially we are saying that the fees which are payable by the buyer are to be rolled up in the mortgage thus essentially one has less equity in the property?