Author: The ESREA France Team

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2013 French Bank Mortgages contain concealed Errors

If you are buying a French property you may have seen the publicity by one French society, les Expertiseurs du credit that over 50 percent of French Bank Mortgages contain concealed Errors. Is this true?

According to an article published in Le Figaro, the errors may not be intentional but a result of different ways in which banks calculate the interest rate.

If you think that there is a problem with the calculation of your French mortgage in the same article French lawyer Charles Constantin-Vallet says the best approach is to contact your banker to see if you can fix the problem. If the bank refuses to listen and you can prove there is a problem contact a French lawyer to assist you.

If you would like to connect with an English speaking French lawyer we can help you locate one just contact us here.

If you would like to read the full article in French in Le Figaro click here

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What does beton mean in a French real estate ad?

In a French real estate ad you may see the term ‘Beton’ . Beton is the French term for concrete. It is a term used to describe, for example, the surface in a private courtyard within a residence.

Throughout this site you will find many terms used in French real estate explained in English to help make it easier for you to understand French real estate advertisements.

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2013 French Property Rents have Increased this year BUT

According to l’Observatoire des loyers Clameur, French real estate rental costs has increased by 0.6 % since the beginning of the year 2013.

In fact, this is an amount less than inflation. Last year at the same time the increase was much higher. It reached 2.4 percent.

This change , according to the Observatory, is due to the economic crisis. Rent increases have been reduced in small properties like studios and one bedroom apartments since the demand for small units is lower. They are typically rented by students and the students are believed to be back living at home with parents now to save money.

In contrast bigger apartments like two bedrooms and four bedrooms have higher than the average rental increase up 1.3 percent and 2 percent respectively.

If you would like to read the full article in French published on Le Figaro go here.

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

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What is a Tantieme in French real estate?

The French real estate term Tantiéme is the measurement of your proportional share of a co property in France.

It is important to be aware of this amount as it relates to the financial responsibility you have as an owner in the building and is used to calculate your charges mensuelles, appel des fonds and more.

Make sure you speak to an English speaking French notary about this.

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What is the diagnostic mérule in French real estate?

In French real estate the term mérule is referring to dry rot caused by a parasite that grows in a moist environment.

It is also called in French, « champignon des maisons » mushroom of the house,

This fungus lives on the wood of your French property and grows at a fast rate when certain conditions are met. The presences of mérule can cause health risks as its spores enter the air potentially causing respiratory problems or allergies in occupants.

If your new French real estate purchase lies in an area where there is risk of mérule ( dry rot ) you need to get your property inspected by a professional diagnostic technician prior to signing the contract of purchase of sale to confirm the absence or presence of this destructive fungus.

A property may also have mérule present if it is no longer inhabited and has not been aired for a long time, best consult a professional to make sure you know more.

NEWS: Have you seen our French real estate buyer’s guide that comes with a 100 percent money back guarantee? Here it is

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Request below via the sign up form. Just scroll down, add your email and click Subscribe

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Note: Details on our 110 Tip electronic French real estate buyer’s guide plus checklists is here.

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