General Rules Of The Mortgage Payments in French Banks

Rules Of The Mortgage Payments in French BanksWhen making a mortgage for the purchase of completed property in France, the repayment of the loan and interest occurs monthly and down payment depends on the starting date of the mortgage.

When buying real estate under construction, the first installment shall be paid within one month from the date of opening of the mortgage, the maximum deferred payment is permitted for a period of 2 years.

Monthly payments are paid by transfers from French bank account. This calculation can occur in an annuity and differentiated by pattern.

Real estate can be considered owned by the buyer only after the final repayment of a mortgage loan. If the borrower can not repay the loan in accordance with the timetable set out in the contract, property can be seized.