overmonnow Posted January 18, 2005 Share Posted January 18, 2005 HelloCan I get a mortgage based on the future rentable value of my property? I want to buy a lake, pur log cabins on the land and rent them out for fishing purposes - can I borrow money based on my projected annual return from this venture?I suspect the answer is no, but if someone could clarify the position for me I would be grateful.Many thanks, Alistair Link to comment Share on other sites More sharing options...
Val_2 Posted January 18, 2005 Share Posted January 18, 2005 Why not ask a french bank, it costs nothing to do that and one way or another you will have some idea of whether it is feasible. I personally would have said no way José because banks here are notoriously strict on lending on things for rental especially holiday projects but you just never know, there may be some special business plan but you will need to justify on paper usually that you can afford the monthly repayments. You may fare better in the UK from one of the companies who specialise in foreign property loans. Link to comment Share on other sites More sharing options...
makeiteasy Posted January 18, 2005 Share Posted January 18, 2005 why everybody is so skeptical with mortgages in France!!!It's absolutely wrong to think immediatly that a bank won't agree to set up a mortgage if you intend to create a business with it.Like Val 2 said, try & see, Link to comment Share on other sites More sharing options...
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