Mortgage required - no salary!!

[GlassLady]

We are just in the process of buying a house in France. We have got to the stage of selling up in the UK and are looking in our chosen area during January and February.

The income we will get will be from gites, but we cannot find anyone who will lend money when the repayments are to come from gite income.

Is there such an organisation - the only ones we can find are where you have a salary in the UK.

Thanks

T

[Dave&Olive]

this says no  http://www.frenchentree.com/fe-forum/home.asp?status=view&MessageID=1905&origin=1905       

this says maybe     http://forums.french-property.com/showthread.php?t=870

 

hope it helps dave

ps you must be very brave or ...... to think you can live off a gite income and still pay a mortgage but only the brave win.

good luck

[Val_2]

You will find getting loans in France and especially with no proven written monthly income almost impossible. Even a small car loan has to have a proven monthly repayment scheme which does not exceed more than two thirds of your salary. Gîte income is notoriously avoided by lenders in France as it is not a stable income (look at this year's numbers of gîtes which had no bookings to speak of) You may do better getting credit in the UK where they seem to give it away by the lorryload and worry about paying back sometime never.