Glossary 

 

Our glossary defines frequently used mortgage terms. Click on one of the following letters of the alphabet to locate a specific term on this page.

Charges for mortgage security / Frais de garantie

Whenever you take out a bank loan in France to finance your French property, the loan is secured with a charge on the property.
• First charge on property
If you buy an old or a new existing property involving a transfer of ownership, the security associated with this loan is called a first charge on property ("PPD – Privilège de Prêteur de Deniers").
• Contractual mortgage
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 contractual mortgage ("Hypothèque Conventionnelle").
 

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