I am thinking about buying a house in France, but I'm
concerned about the EU exit. Is there any information yet about how
Brexit will impact on UK home owners in France or how it will
change the purchasing process?
Unfortunately we can't be certain what the effects of Brexit
are going to be on home ownership in France, or other EU countries.
During the transition period not much should change, but after that
there are some likely changes.
If you need to take out a mortgage, Brexit will change the
parameters for you. At present an EU citizen may borrow up to 80%
of the value of the property, but a non-EU resident can only borrow
between 60-65% of the value of the property. If you plan to let out
your home the tax from income you receive may change. At present UK
residents get a "no double tax" relief because of their
EU status. However this should change after Brexit and you may be
liable for tax in both France and the UK.
