French repayment mortgage in Megève

Project

Purchase of an off plan chalet in Megève as a rental property through a commercial company. This scheme enables the buyer to claim the VAT back (20%), as a counterpart the property must be rented out for 20 years and offer some hotel services.

Land €3'300'000

Construction €3'300'000

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Borrowers context

Tunisian resident in Dubai, CEO, finance industry

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Mortgage €4'500'000

on 15 years, repayment

Financial collateral €1'500'000

(not pledged)

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Security

Mortgage on the land + chalet at the end of the construction

Bank

French commercial bank