Hi Martin,
Thanks for the information, as you may know I am an avid DIY'er so that isn't ideal, I would welcome a chat though when you have a minute.
Thanks
James
Hi James,
I'm a mortgage broker (specialising in the non-resident market)....Equity releases, whilst possible, are increasingly difficult to obtain (tight criteria on qualification & restricted use of funds you are releasing). In all the applications we get, only a very few end up qualifying.
If you are looking to release money to finish your property, have you considered a straight forward "pret travaux"? The downside is the release of funds is controlled to french registered building companies so no good for DIY projects.
Happy to have a private chat about this if you want to get into more detail.
Best,
Martin
France Home Finance
We went via the broker who arranged our purchase mortgage on the next house. We were looking at releasing equity on the current home to commence work on the next one, but it appears we were either not accepted for autoentrepreneur or to count our uk income we would be classed as non resident so were ruled out on that basis too. So in the end we decided we will just have to wait till our house sells to commence the main building work. Plenty of time to pontificate over finer details then...and no doubt drive our architect nuts.
Oh! Was that recently? Did you approach the back directly or via a broker?
We had a look at this too James, they hated auto entrepreneur and Wouldn't entertain us even though we own our house outright!