Section 6: Early repayment

The borrower may always, on his or her own initiative, terminate the loan contract granted to him or her by repaying all the sums already paid in principal and interest.If the borrower has opted for a lump sum payment of the capital, he or she may, on his or her own initiative, repay part of the sums paid. However, the lender may refuse a partial repayment of less than an…

In the cases of repayment provided for in article L. 315-16, the lender is entitled to demand compensation which, without prejudice to the application of article 1231-5 of the Civil Code, exceed an amount which, depending on the duration of the contract already performed, is fixed in accordance with procedures determined by decree in the Conseil d’Etat.

Early repayment may not give rise to any compensation or costs payable by the borrower other than those mentioned in articles L. 315-16 and L. 315-17.

The borrower may, in the case of periodic capital payments, request a suspension or modification of the payment schedule.These adjustments are made at the conventional rate defined in the main contract and give rise to the drawing up of a new statement of the periodic payments and the interest accumulated on these sums for the forecast period of the loan remaining to run. The capital and interest portions are shown…