Expat Community > France

dakota
Joined 2005
Posts: 8

Mortgages & Conflicting Advice

19 years ago

Hopefully somebody with banking experience can set me straight. My husband and I currently own a property in France that has an existiing mortgage. We have put this property up for sale, as we wish to purchase a smaller property nearby. We have been inquiring about obtaining a bridging loan in order to facilitate this move. No problem so far.

However, we have been told by several bank people that we can transport our existing mortgage to the new property, which appeals to us in order to reduce our exposure to the wealth tax. Since we had been told we could transport the mortgage we started thinking that perhaps we could now refinance the mortgage at a more favorable interest rate.

I just finished a telephone conversation with an international bank and was told emphatically that no way can you transport a mortgage from one property to another.

Now, doesn't this make for confusion!! Like so many notaires, and other authorities in France, one gets absolute conflicting information. Can anybody straighten us out on this??

Thank you.

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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Expat Community > France

Mortgages & Conflicting Advice

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