The life mortgage loan is a contract by which a credit or financial institution grants a natural person a loan in the form of a capital sum or periodic payments, secured by a mortgage on a property owned by the borrower for use exclusively as a dwelling, the repayment of which – principal and interest capitalised annually – can only be demanded on the death of the borrower or on…
A credit institution, a financial institution or a third-party financing company mentioned in 8 of Article L. 511-6 of the Monetary and Financial Code may finance renovation work by means of an advance transfer loan secured by a mortgage for the initial amount of the loan plus interest capitalised annually, repayment of which may only be demanded when the property is transferred. Repayment of the interest may be made in…
The life mortgage loan and the transfer advance loan cannot be used to finance the needs of a professional activity.
Any advertisement made, received or perceived in France which, regardless of its medium, relates to a life mortgage loan transaction defined in article L. 315-1 or the transfer advance loan defined in article L. 315-2, is fair and informative. To this end, it must mention: 1° The identity of the lender, the nature of the proposed transaction, its total cost and the overall effective rate, excluding any other rate, calculated…
Where the advertising is in writing and whatever the medium, the information relating to the nature of the transaction, the conditions for determining the overall effective rate and, in the case of a promotional rate, the period during which that rate applies, shall appear in a font size at least as large as that used to indicate any other information relating to the characteristics of the financing and shall be…
The following are prohibited in all advertising: 1° The mention that a loan may be granted without information enabling the borrower’s financial and asset situation to be assessed; 2° The indication of the additional resource offered by the loan if it is not followed by information on the terms and conditions of the transaction as provided for by the provisions of articles L. 315-20 and L. 315-21.
The preliminary offer of credit must be distinct from any advertising medium or document.
A life mortgage or advance transfer loan transaction may not be canvassed within the meaning of the seventh paragraph of Article L. 341-1 of the Monetary and Financial Code.
The life mortgage or advance transfer loan transaction is concluded under the terms of a prior offer containing the following information: 1° The identity of the parties and the date of acceptance of the offer; 2° The exact description of the mortgaged property, in accordance with the requirements of the land registry; 3° The value of the mortgaged property estimated by an expert chosen by the parties and the costs…
Delivery of the offer obliges the lender to maintain the terms it contains for a minimum period of thirty days from its issue.
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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