Crédit Agricole KeyFinance > Property mortgage in France

Property mortgage in France

All C/A Keyfinance mortgages in France, are secured with a charge on the property.

First charge on property "PPD – Privilège de Prêteur de Deniers" :

If you buy an old or a new existing property involving the transfer of ownership, the security associated with this loan is called a first charge on the property (property mortgage in France).

Contractual mortgage "HYPOTHEQUE":

However, if there is no transfer of ownership - as in the case of refinancing an existing loan or requesting an equity release - or you are purchasing a property under construction, the security is a contractual mortgage ("Hypothèque Conventionnelle"). The registration of the mortgage and the PPD is paid to the notary. These charges for securing mortgages are based on the amount borrowed. Notary fees are legally established by the Chamber of Notaries and are usually non-negotiable. Please contact your notary for additional information and the costs of securing mortgages.

Mortgage Protection

Taking out a life assurance policy to cover the amount of a property (property mortgage in France) loan is not a legal obligation in France. However, potential buyers should be aware that French banks do not offer loans without it. In most cases, the mortgage protection and loan application are treated simultaneously.

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