Minimum Ltv ???

astro_al

Hi, what's the smallest mortgage I can get? I want to buy a barn in france. I'm looking at around 25000 euros (18k GBP ish).

As I'm buying a flat in Paris too, I don't have much cash floating about. What are my options for financing this? I'd like to keep the payments low, so for example, I'd rather avoid a 4 year loan or something like that - a mortgage which allows overpayments would be perfect.

I looked at getting one mortgage for both, but don't think this is possible... Help!?!

Cheers, Al.

payless

Are you raising against a UK property- if so might have problems getting below £25K ( for this reason) although some lenders get around it , or allow higher borrowing and then repay

If looking at rasing against properties in France- you will need a lender ( there are a few) or broker that specialises in French mortgages

rockrat

astro---
a little of subject, but can you give me a few links as to where you sourced your barn in france from. i am looking to do something similiar and get bogged down with the millions of websites showing property in france, and would appreciate some good quality links.

as for smallest mortgage, heres something i did to purchase a villa in bulgaria. Take an offset re-mortgage out for an agreed larger amount than actually needed based on a Uk property and its value. Then simply write a cheque for the barn at £18k. your loan will then only increase by that amount.

thanks.. and sorry its off subject

astro_al

Hi, thanks for the input.

Unfortunately, I don't have any property currently (I'm 27). I have a decent job and I can afford the payments, but I don't have 20k lying around...

Can anyone give me any links or anything to someone who can help...? I don't care if its a UK or French company.

Does anyone know about loans to this kind of value - do they work out roughly the same as mortgages regarding the total repayed / timespans etc?

Rockrat - I already live in Paris, so I can just pick up all the for-sale ads from the newsagents. I've found quite a bit of stuff on the net, but nothing which sticks out as being especially good. If you want to cut out the agency fees, you need to use a site or magazine which is 'entre particuliers' or 'particulier a particulier' - kind of 'between individuals' or 'person to person', i.e. cutting out the middle man (the agent). If you like this idea, there are some sites on the net like https://www.pap.fr . But of course you still pay notaires fees etc. For example here in Paris when I buy a flat later this year, doing this will (on paper) reduce the fees associated from 15% to 8% of the property price, roughly, having said that, sometimes the agency will negociate a better purchase price on your behalf, so you may save money on the actual cost but pay them fees (that's their claim anyway...).

Hope that helps a bit - anyone know what my options are...?

Al.

payless

From your previous postings I believe you work and live in France- paid in Euro's

Therefore - Think you really need to be looking at French based lenders

astro_al

Yes, I'd prefer that, but for a mortgage of such low value if there is someone who can help me in the UK, then I'll happily go along with it.

Right now it seems impossible to find anything - let along choose the best from the available options!

I wonder why you can get a mortgage for 200,000 but not 20,000. Seems kind of odd?

Does no-one have any ideas...?

Al.