Section 6: Life mortgage

If an advertiser disseminates or causes to be disseminated advertising that does not comply with the obligations set out in articles L. 315-4 to L. 315-7 is punishable by a fine of 150,000 euros.

If the lender grants a life mortgage without making a prior offer to the borrower in accordance with article L. 315-9 or under conditions that do not comply with articles L. 315-10 and L. 315-11, is punishable by a fine of 150,000 euros.

A failure by the lender to repay the sums due under article L. 315-15 on expiry of the term when the debt is less than the value of the property, is punishable by a fine of 300,000 euros.

If the lender demands from the borrower sums in excess of those that the lender is authorised to request payment of pursuant to article L. 315-18, is punishable by a fine of 300,000 euros.

Any canvassing within the meaning of Article L. 341-1 of the Monetary and Financial Code with a view to carrying out a life mortgage loan transaction is punishable by five years’ imprisonment and a fine of €375,000.Persons guilty of the offence referred to in the first paragraph are also liable to the following additional penalties:1° Disqualification from civic, civil and family rights, in accordance with the provisions of the Article…