French Marine Mortgages?

[EME]

Another in the saga. Thanks for everyone's advice!

The boat (used) that I want to buy is currently in Italy but to be used in France, this seems to be causing the UK mortgage house headcahes as they do not know surveyors etc anywhere near where the boat is currently berthed...yet the broker obviously doesn't want to move the boat until the deal is done !!

This made me think. Has any UK citizen out there bought a boat for use in France and arranged finance locally? If so how do you go about it?

Thanks

 

[tcm]

I note from your bio that you plan to eventually be in la napoule.

If so..BUY YOUR BOAT FROM SOMEONE IN LA NAPOULE. It does not matter that it is made elsewhere, the seller will be clsoe at hand. You should talk to Bart Van de Heuvel at Ancasta. I can give you a number.

Yes, I have got french marine finance but much the cheapest is using money, next cheapest is using uk house mortgaeg money BUT (2)

The french leasing laws mean that for a french-based compnay the VAT is 10% not 19.6%. They pass on some of this saving, allowing you to buy with a final payment. Leasing a new boat instead of buing actually therefore costs about 98.5% of the total vat-inclusive price, strange as it may seem. Once yiou make the final payment you must re-reg as british boat, as you cannot be foreign and have a french-reg boat. None of this applies unless vat is due (ie new boat, essentially, cos they want good title).

I have had other french finance and none of this wild west UK stuff and rates going up/.down - it's a fixed payment profile, pay these amounts on these dates, all very reassuring imho.

I also have a berth for sale in la napoule er er 200 quid for v small percentage share (not allowed to sell things here) unless 200 quid. So, could sell you a muktitudinous 200 quid shares. Or perhaps 200 quid wortth here and sell the rest "off-web" like "offshore".