HaveHave

LEXICON

HaveHave

Amortization : repayment of a loan until it is extinguished.

HaveHave

Equity: amount excluding interest borrowed from a credit institution.

HaveHave

Remaining capital : amount of capital remaining to be repaid by the borrower on a given date.

HaveHave

Bail : contractual commitment of a person to repay a loan if the debtor does not pay his debt.

HaveHave

Credit, loan, loan: provision of a sum by a credit institution that one undertakes to repay according to contractual terms.

HaveHave

Consumer credit : loan granted to an individual by a bank, a finance company or a store, in order to acquire consumer goods that he does not pay in cash (vehicle, household equipment, etc.).

HaveHave

Depreciable credit / depreciable loan: loan whose amount, duration and monthly payments are determined when it is set up, according to a schedule. The monthly payments are made up of interest and repayment of capital, the proportion of which is reversed over time.

HaveHave

Bullet credit / bullet loan: loan whose amount and duration are determined in advance and whose capital is repaid in one installment at the agreed maturity. Interest is paid according to the terms of the contract: monthly, quarterly or at maturity.

HaveHave

Bridge loan / bridge loan: credit intended to finance the acquisition of a property while waiting to complete the sale of a first property, for example during the sale of a property.

HaveHave

Sales agreement : it is the first legal act that binds and commits both the seller and the buyer. It is usually signed at the notary.

HaveHave

Grace period: at the start of the loan, a period during which the borrower does not repay any capital, only the interest on the loan and the insurance contributions. This deferral is often used during the construction of a property, in order to limit the monthly payments during this period.

HaveHave

Due date : date on which the total or partial refund must be made.

HaveHave

FICP : National File of Incidents of Reimbursement of Loans to Individuals, managed by the Banque de France. In the event of filing with the FICP, it is impossible to obtain a mortgage.

HaveHave

Application fees : costs corresponding to the work of studying the file and setting up the loan.

HaveHave

Warranty: in the event of failure to pay the monthly installments, it protects the bank and ensures the reimbursement of the capital remaining due. The most frequently used guarantees are the mortgage and the surety.

HaveHave

Mortgage: notarial deed by which a borrower undertakes to return property to his creditor, in the event of default of payment.

HaveHave

Prepayment allowance (IRA): amount deducted by the bank in the event of early repayment of the mortgage. This practice is strictly regulated by law.

HaveHave

Interest: sum due to the lender, in remuneration for the credit that he grants. Interest is calculated according to the amount of capital borrowed, the duration of the operation and the rate used.

HaveHave

Intermediary in banking operation (IOB): agent who negotiates loans with banking establishments on behalf of the borrower. It can also intervene in the negotiation of repurchase or consolidation of credits.

HaveHave

Mandate: act by which one person gives another the power to do something in his name.

Early repayment: possibility for the borrower to repay a loan before the scheduled end of the contract. In this case, the bank may ask to collect early repayment indemnities.

HaveHave

Withdrawal: period of 10 days after signature of the contract during which the borrower has the possibility of renouncing the credit. The withdrawal must be made via a slip attached to the contract, which the borrower must complete and return.

HaveHave

Solvency: financial ability to pay debts.

HaveHave

Over-indebtedness: when the borrower's income no longer allows him to ensure the repayment of the monthly payments of his credit.

HaveHave

Amortization table: table provided by the bank, indicating the amount owed by the borrower at each maturity of the credit.

HaveHave

Rate cap / rate cap: interest rate of a loan whose upward trend is constrained by contract.

HaveHave

Debt ratio : proportion of loans taken out by the borrower in relation to his income.

HaveHave

Interest rate : percentage used to calculate the bank's remuneration on a loan granted to the borrower. The rate can be variable or fixed.

HaveHave

Fixed rate : interest rate which remains unchanged throughout the term of the loan.

Have

Variable or revisable rate: interest rate which may change. Its variation is linked to the evolution of one or more benchmark indices. The variable rate loan may include a fixed rate period and variation limits.

HaveHave

TEG (Global Effective Rate) / APR (Annualized Global Effective Rate): rate measuring the overall cost of a loan, it thus includes interest and all credit-related costs (application costs, insurance costs, guarantee).Have

HaveHave

HaveHave