Law on the information and protection of borrowers in the real estate field

The law n ° 79-596 of 13 July 1979 relating to information and protection of borrowers in real estate , said law Scrivener II named Secretary of State for Consumer Affairs Christiane Scrivener , is a French law who to inform and protect the real estate borrower by establishing rules that financial institutions must follow. Its main objective is to combat the over- indebtedness of natural persons.

Scope of the law

The law applies for real estate loans , whether this property is for residential or mixed use (housing and work). Real estate works less than or equal to € 75,000 are not covered by the Scrivener Law 2 but are governed by the first Scrivener Law. Buildings whose only function is a professional utility do not depend on this law either.

Summary of the law

In conjunction with the rules enacted by the first Scrivener Law, the Scrivener Law 2 imposes certain specificities related to real estate loans:

  • Edition of a detailed depreciation schedule: For each installment, it must indicate the amount of principal and interest repaid,
  • The amount of the expenses of file, instruction or share. (The shares are generally due in the case of mutual institutions),
  • The reminder of the validity period of the loan offer issued.
  • Deadline for reflection of 30 clear days with a minimum period of 10 days from the receipt of the offer (the postmark is proof). the Offer may be accepted from 11 th day.

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