Article L315-3 of the French Consumer Code
November 8, 2023
The life mortgage loan and the transfer advance loan cannot be used to finance the needs of a professional activity.
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.
The offer cannot be accepted until ten days after it has been received by the borrower. Until the offer is accepted by the borrower, no payment in any form whatsoever may be made by the lender to the borrower or on the borrower’s behalf, or by the borrower to the lender, in respect of the transaction in question.Until such acceptance, the borrower may not, in the same way, make any…
The borrower must take all reasonable care of the mortgaged property.
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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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