You wish to obtain details on a mortgage offer

You wish to obtain details on a mortgage offer

 

The offer of a mortgage must be clear and comprehensive. It must in particular indicate its total cost, the annual percentage rate of charge (APR), the amount of the monthly payment, possibly the indexation methods, the cost of guarantees and insurance required. For fixed rate loans, the offer must include a detailed schedule. This amortization table must specify, for each due date, the breakdown between the reimbursed capital, interest and insurance premiums, as well as the outstanding capital.

 

Insist on a complete amortization table: it is a gold mine in terms of information. When the information obligation is not complied with, penalties are provided for in Article L. 312-33 of the Consumer Code (fine, forfeiture of interest in full or in the proportion set by the judge).

 

Dear,

 

On (date) we had an interview during which you made us a loan offer to finance the purchase of an apartment.

 

Please confirm this offer in writing, providing me with as much information as possible. Thus, I would particularly like to see included in your offer, in accordance with Article L. 312-8 of the Consumer Code, the following information for each due date: the part of the amortized capital and that remaining due, the interest due and paid , and, possibly, compensatory interest, insurance premiums as well as penalties claimed in the event of early repayment.

 

Pending your response, please accept, Madam, Sir, the expression of my best regards.

 

(Signature) 126