May 27th, 2010
With Capital Gains Tax in the news in the UK, here’s the French position.
No capital gains tax is payable to the French government on the sale of a principal residence by a French resident (and taxpayer) whatever their nationality. You just have to pay the Notaire’s fees and repay your French mortgage.
For second homes CGT is levied at 16% for EU residents with French residents paying an extra 11% social charges, while non-EU residents are charged 33%. The Notaire will collect the tax at the point of sale.
However, capital gains tax is reduced progressively by 10% per year after 5 years’ ownership, so there is no tax to pay after 15 years. The cost of improvements carried out by French-registered contractors can be deducted from the capital gain between buying and selling prices. French residents also pay CGT on the sale of a second home, wherever it is situated. They too are exempt from capital gains tax on the sale of a second home after 15 years ownership.
If you are thinking of relocating to France, where Capital Gains are treated differently, Best French Mortgage can organise a mortgage for your French home at the best rates from the best French banks.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: bargain cheap property french mortgage, Capital Gains Tax, CGT, Compromis de Vente, Equity Release French Mortgage, french home and business mortgage, French Lifestyle, french mortgage advice, french mortgage broker, french mortgage checklist, french property mortgages, Jayne’s says
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May 12th, 2010
Thursday 13 May is Ascension Day and in France this is marked by a Bank Holiday. Because the French Bank Holiday falls on a Thursday, many people will make it a long weekend by taking Friday off as well. In France this custom is common, and it’s called “faire le pont” literally “make a bridge”. The previous two public holidays both fell on a Saturday and in France they are forfeit, not rolled over.
For house hunters this may mean you cannot get a viewing appointment until next week. Expect to find a sign in the estate agent’s window announcing “Fermeture exceptionnel”. You can still research the French mortgage market online. Learn more about French mortgages and how a good mortgage broker can help you from our website, Best French Mortgage.
The online portal for Best French Mortgage will be open throughout the weekend, of course, so you will still be able to apply for your French mortgage. We promise to find you the best French mortgage from top tier French banks and mortgage providers. We don’t charge clients for our mortgage broking services.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: bargain cheap property french mortgage, buy to let french mortgage, Compromis de Vente, Equity Release French Mortgage, French bank holiday, French Estate Agents, french home and business mortgage, french home information pack, French Lifestyle, french mortgage broker, french mortgage broker regulations, french mortgage market trends, French News, french property mortgage, french property mortgages, French Realty, Jayne’s says
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April 27th, 2010
May 1, La Fête du Travail (Labour Day), is one of most important Bank Holidays in France. Apart from the boulangerie selling fresh bread and breakfast croissants just about everything else in France is closed. That includes Estate Agents, banks, petrol stations, food shops, other retailers and public services. Many French people make it a long weekend, so you may also find businesses closed on Friday.
Be aware that this year May 8, May 13 and May 24 are also public holidays in France, although generally supermarkets will be open for part of the day.
Best French Mortgage online portal will always be open, of course, so you will still be able to apply for a French mortgage and organise your financials before house-hunting resumes next week. We will find you the best French mortgage from top tier French banks and mortgage providers. We don’t charge clients for our mortgage broking services.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: fete du Travail, French bank holiday, French Lifestyle, French Mortgage, french mortgage advice, french mortgage broker, french mortgage checklist, french mortgage glossary, french mortgages, French public holiday, Jayne’s says, Labor Day, Labour Day
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March 30th, 2010
Easter weekend begins on Friday 2 April. The French call it Vendredi Saint and although it’s not an official Bank Holiday, many people start their Easter holidays on Good Friday.
Easter Day (Sunday 4 April) is traditionally celebrated with Church bells, chocolate treats and a sumptuous family dinner. As well as Easter eggs, there are Easter bells, Easter bunnies, Easter fish, Easter nests and exquisite dark chocolates for adults. Nearly everyone in France eats lamb on Easter Sunday.
Monday 5 April is a public holiday and Estate Agents do not open. However, by Tuesday it’s business as normal and the spring season brings a whole new set of properties to market. French property continues to represent good value and a sound investment. Completions in France can take up to three months, so if you want to spend your summer holiday in your new French home, now is the time to move forward on your purchase.
Best French Mortgage continue to arrange mortgages with First Tier French banks at the best rates and with the best terms. Contact us as soon as you find the right property and we will immediately start to find you the best French mortgage for your personal circumstances.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: Chocolate treats, Easter, French Mortgage, french mortgage advice, french mortgage broker, french mortgage checklist, French News, Jayne’s says
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March 20th, 2010
Experts are agreed that 2010 is the time to invest in French property provided you finance the purchase with a Euro mortgage through BFM.
Why? Because the French market has bottomed out in terms of pricing and there are major bargains to be picked up in most areas.
But what about the exchange rate, surely the poor sterling/euro exchange rate makes French property a bad deal for British buyers?
Not if you take the maximum mortgage available, usually 80 to 85% of the property valuation.
The reasoning goes like this:
If you buy for cash you do indeed risk exchanging a lot of money for Euros at a bad rate.
If you take a mortgage, then one of two things will inevitably happen.
Either Sterling falls further against the Euro, so the value of your property increases in sterling terms;
Or Sterling recovers against the Euro. Your property value goes down in Sterling terms BUT SO DOES YOUR OUTSTANDING MORTGAGE.
It’s called hedging and is the first thing young international bankers are supposed to learn.
Keep your assets (the property) and your liabilities (the mortgage) in the same currency. Anything else is a decision to take a foreign exchange risk.
For more details see the Best French Mortgage Market Trends page.
Click here to apply for your French Mortgage.
©BestFrenchMortgage
Tags: French Mortgage, french mortgage advice, french mortgage broker, french mortgages, french property mortgage, french property mortgages, french remortgage
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March 18th, 2010
The Compromis de Vente is a legally binding bill of sale. Once both the seller and buyer have signed the Compromis, and the buyer has had 7 days reflection, there’s no backing out for either party. A Compromis may be drawn up by an registered Estate Agent or a Notaire.
The Compromis must describe the property fully including not just the size and location of the property and outbuildings, but also any fixtures and fittings included in the sale. The price is also fixed at this point.
There are 3 types of conditions which may be included in the Compromis de Vente: Conditions générales, Conditions particulières and Conditions suspensives.
Conditions générales mean for example that the buyer takes possession on the day of completion and becomes liable for property taxes and that the seller doesn’t sell off part of the property before then.
Conditions particulières would be written into the contract if the seller agreed, for example, to complete repairs before the sale date. If the condition is not fulfilled by the sale date, you may not withdraw from the purchase but you can ask the Notaire to retain some of the purchase price from the seller until the matter is put right.
Conditions suspensives are clauses which, if not realised, allow the purchaser to withdraw. If you are looking to buy with a French mortgage, you must have a condition suspensive in the Compromis de Vente which allows you to withdraw from the purchase if you are refused a mortgage.
You may be offered a promesse de vente (promesse unilatérale de vente) by a developer, which is an option to buy a property granted to the buyer by the owner. A promesse de vente is at a specified price and good for a specific duration.
And, for commercial premises there is a promesse d’achat where the buyer commits to buy a property in the case where the owner wants to sell it.
As soon as you sign the Compromis de Vente or equivalent document, you must start to look for a mortgage if you need one. Best French Mortgage will get the ball rolling as soon as we hear from you.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: buy to let french mortgage, Compromis de Vente, french business finance, French Commercial Mortgage, French Mortgage, french mortgage advice, french mortgage broker, french mortgage checklist, french mortgage glossary, french mortgage guide
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February 19th, 2010
The French Mortgage market is reeling from the shock move by the Fed to increase its emergency loan rate by 0.25% to 0.75%. The Fed’s move definitively signals that we are now at the bottom of the global interest rate cycle and the window of opportunity is beginning to close on what will probably be the best French Mortgage rates for the next 25 years. If you’re thinking of buying in France ACT NOW and contact us to get one of the last great mortgage bargains of the decade. For more details see the Best French Mortgage Market Trends page.
Click here to apply for your French Mortgage.
©BestFrenchMortgage
Tags: French Mortgage, french mortgage advice, french mortgage broker, french mortgages, french property mortgage, french property mortgages, french remortgage
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February 19th, 2010
Best French Mortgage have updated their Market Trends page with the latest information on French Mortgages
Click here to apply for your French Mortgage.
©BestFrenchMortgage
Tags: French Mortgage, french mortgage advice, french mortgage broker, french mortgages, french property mortgage, french property mortgages, french remortgage
Posted in Alpes-Côte d'Azur, Alsace, Aquitaine, Australia, Auvergne, Basse-Normandie, Bourgogne, Bretagne, Brittany, Burgundy, Buy and Leaseback, Buy and Leaseback, Buy at Auction, Buy to Let, By Country, By Country, By Region, By Region, Center, Centre, Champagne-Ardenne, Client Information, Client Projects, Commercial, Corse, Corsica, Equity Release, Euro Mortgage, Financial News, France, Franche-Comté, French Lifestyle, French Mortgage, French Property News, Haute-Normandie, Hong Kong, Interest Rates, Investment News, Languedoc-Roussillon, Limousin, Lorraine, Lower-Normandy, Malta, Midi-Pyrénées, Mortgage Products, Nord-Pas-de-Calais, Paris-Île-de-France, Pays-de-la-Loire, Picardie, Picardy, Poitou-Charentes, Provence, Re-Mortgage, Renovation, Rhône-Alpes, UK, USA, Upper-Normandy | Comments Off
February 15th, 2010
Mardi is French for Tuesday and Gras literally means Fat. Mardi Gras is the day before the beginning of Lent, when Christians used to empty their larders of butter and eggs. Hence, eating pancakes became a tradition of Mardi Gras.
Mardi Gras is also a day for celebrations and parades. Rio does it, New Orleans does it, Sydney has a ball. In France Mardi Gras marks a fortnight of celebrations on the French Rivieira.
The Nice Carnaval is famous for fabulous masked parades, flower battles and a parade of lights. During the flower parade, 100,000 flowers are thrown at the crowd from 20 floats.
Best French Mortgage are the leading online French mortgage broker:
Click here to apply for your French Mortgage.
Tags: French Lifestyle, French News, Jayne’s says, Mardi Gras, Pancake Day, Shrove Tuesday
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February 13th, 2010
Believe it or not, the first Valentine’s Day card was sent by a Frenchmen. When Charles, Duke of Orleans, was held in the Tower of London after being captured at the Battle of Agincourt in 1415 he wrote poems for his wife Bonne, real Valentines. About sixty of them remain; they can be seen in the British Museum.
The French celebrate Valentine’s Day with gifts such as chocolates and flowers. Expect to see long queues outside chocolate shops as each customer chooses an individual selection of handmade chocolates for their amour. Le chocolatier doesn’t compromise on service just because there’s a crowd.
French restaurants offer fixed price candlelit dinners for couples and because every table in a restaurant is restricted to two people it an be very difficult to get a reservation for the 14th February.
If you can’t get to France for Valentine’s day, why not bring a little French romance to your declaration of love? Crazy for them? “ Je t’aime à la folie.” Love them with all your heart? “Je t’aime de tout mon coeur.”
My favourite is from Frenchwoman George Sand: There is only one happiness in life, to love and be loved. “Il n’y a qu’un bonheur dans la vie, c’est d’aimer et d’être aimé. ”
Best French Mortgage are the leading online French mortgage broker: Click
here to apply for your French mortgage.
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Tags: French Lifestyle, French News, Jayne’s says, Valentine's Day
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