Nibbler

Hello,
Just wanted to know if anyone had taken a mortage from a french bank for a property in the uk....
Asked my bank in britain and got ums and rrs....let you know...still waiting
Asked my french bank got a yes but with loads of conditions
still have my home in britain and rent it out, i have rented a home in france..never found my nervana in 4 YEARS.
The mortage is for a small flat?

Nibbler

not moving back i have a good job here

Ka Ora!

Try looking for Nirvana, Kurt is at the end of the rainbow. You can "Come as you are."

Sorry I couldn't resist............

cjm

You confuse - what did you ask the UK bank? For a mortgage in France? That's a loan, perhaps loaded but just business. You asked your French bank for a loan in the UK? Can't see a problem unless your numbers don't add up. You could use your UK property as collaterol.

No such thing as nirvana, you are born, you live, you die. Story ends.

cyrian

Hi cj
It is more difficult to get mortgages in the UK - the rules are tighter.
It is not only the value of the property - it is the income (or assets) of the borrower. The bank are now selective about who is getting a mortgage and a foreign resident with no income in the UK perhaps is too big a risk.

Hi Nibbler
Try a mortgage broker in the UK.
Taking a mortgage in the UK would raise more value in euros at this time.
However, if the € falls against the £ in the future then repayments from € income on a £ mortgage could increase dramatically.
Had you done so in 2007 then you would have won a watch with the € buying many more £s at today's exchange rate the repayments would have been easier.
You would in effect be gambling in the Fx market along with all the professionals (banks etc). It could be a risky strategy

Nibbler

Hi
i thought i would have been more favourable to my bank in britain but i was told due to my currant position in living in a different country and this would be difficult due to my main income is generated in a different country.

so my french bank would be better?transfer rates...and so on are problems
not so bright on things so i need to figure things out,talked to manger in french bank his eyes lit up,said yes but like all things bank he wanted me to take out alot insurance and whatever so even in french terms...expensive
must look into uk broker or french one
probably simple to most of you,everyone on this site knows alot on french life...bit frightened to say anything or i will be put right
thank you for help