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I know its a cliche but... I want to set up my own b&b in France. Where can I get either a mortgage or a loan? |
Obviously I would need to be living there and therefore would have no source of income (which negates a French mortgage) and uk mortgage companies don't seem keen on lending for a house in another country. I do have a business plan and can invest up to 30% of the costs. Any ideas received with thanks!!! get yourself to france and look for a property which is being sold as a location\vente which is where the owner is playing the bank . you split the cost of house over 5-10 years and pay each month. but beware if you miss 3 payments the owner can recliam the house and all the money you have piad will be classed as rent , meanig all investment is lost good luck. i had 12 very good years in france. any more questions? paconet19@yahoo.com duuuhh, in France, of course It would be a better idea if you went out there and starting working to build up some sort of history there first !! Apply online at www.surefirefinance.co.uk for a commercial loan Sorry i cant answer that one but i sure do envy you,i have the money to do this but my husband wont hear of it,maybe i should leave him behind and join you. Hope you find your dream. if you do not have enough capital and have no idea of what to do i think it would be best to move to france find a job stay in the country for a while,open a bank account in french bank and after a while you can apply for loans from french banks. Hi sorry to be negative. A gite / B&B rarely works in France if you need to borrow money. Count on three years to get reasonable business. And established competition is fierce. I work as a management consultant in France, and have seen the personal tragedies of failure. Peter |
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