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Prt relais


David_Janet

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We are moving house within France, and may have to use the 'Prt relais' system to bridge the gap between selling this house, and buying the new one.
Does anyone have any experience of doing this? Is it an easy process? What are the pitfalls? (apart from having to pay the interest, of course!)
Any information gratefully received
Regards
David and Janet
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Yes, I'd thoroughly recommend it. It avoids all the chain-type hassles of house sales in England, and also avoids the need for short-term rental and furniture storage. It didn't seem anything like as expensive or oppressive as the English equivalent. It didn't affect us, but there was a time limit with ours - I think it was three months - for the sale of the old house to be agreed, otherwise the loan would be converted to a proper mortgage with associated legal charges etc. This probably varies between lenders.
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Excellent system. We had to use it when we decided to move. The first buyer pulled out and we were already committed to buying the second house. We had a year to settle before it was converted to a mortgage. It took seven months to finalise the sale of the house and we were expecting to have to pay a horrendous amount but it wasn't much at all (haven't the figures to hand). We had a scheme where you didn't pay anything back until the first house had been sold. This was with Credit Mutuel after Credit Agricole didn't want to know.

Pat
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