TECHNICAL SLIP

					OUR MORTGAGE SOLUTIONS

CASANOVA FIXED RATE HOME LOAN
RATE Capital and interest repayment mortgage. Fixed rate throughout the whole of the term. FLEXIBILITY At the end of TWO years: • • possibility to either increase or reduce the monthly repayments the loan can be extended for a maximum 2 years the length of the loan can be reduced for a maximum 10 years possibility of a ‘payment holiday’ for a minimum of 3 months and a maximum of 12 months (during this period the borrower pays interest and insurance only) The mortgage will be extended for the same length as this deferral period

EARLY REPAYMENT The borrower is free to make any additional repayments to reduce or pay off the remaining capital. Indemnity: six months of interest on the amount of capital repaid; this indemnity can nevertheless be no greater than 3% of the capital remaining due before repayment. The sum repaid must be at least one tenth of the initial loan amount. This entails either a reduction in the amount of the monthly payments remaining due, or a reduction in the number of repayments due

CASANOVA FLEXIBLE RATE HOME LOAN
RATE Capital and interest repayment mortgage. Variable Rates capped at +1/-1 points OR +2/-2 points (based on the 12 month Euribor rate) The rate remains fixed during the first year. Thereafter, and on each anniversary date of the acceptance of the loan, the rate at which the mortgage has been granted may be revised pending the direction of the Variation Index. The Variation Index is the arithmetical average of the 12 month EURIBOR published during the two months preceding each anniversary date of the acceptance of the loan. The variation is only taken into account if it is equal to or greater than a quarter of a point (0.25) and applies to both directions (- / +) After the first anniversary date of acceptance the borrower can request the transformation of the variable rate into a fixed rate without incurring penalties or administrative fees.

This document is supplied to you by:

Berry British Centre
12 Rue Victor Hugo | 36 200 | Argenton-sur-Creuse | Indre | France | 00 33 254 01 15 24 Web : www.Berry-British-Centre.com - Contact : Mr. Didier Bujaud - e-mail : Didier@Berry-British-Centre.com

FLEXIBILITY At the end of TWO years: • possibility to either increase or reduce the monthly repayments the loan can be extended for a maximum 2 years the length of the loan can be reduced for a maximum 10 years • possibility ‘payment holiday’ for a minimum of 3 months and a maximum of 12 months ( during this period the client pays interest and insurance only ) The loan will be extended for the same length as this deferral period EARLY REPAYMENT The borrower is free to make any additional repayments to reduce or pay off the remaining capital. There is no indemnity for early redemption of the Variable rate mortgage. The sum repaid must be at least one tenth of the initial loan amount. This entails either a reduction in the amount of the monthly repayments remaining due, or a reduction in the number of repayments due After the first anniversary date of acceptance you can request the transformation of the variable rate into a fixed rate without incurring penalties or administrative fees.

DEFERRED CAPITAL REPAYMENTS Requests for a deferral period must be justified i.e renovation works or a VEFA for example. There are two types: Partial deferred repayment = Payment of insurance premium and interest during the deferral period. Possible for up to 36 months regardless of the purpose of the loan Full deferred repayment = Payment of insurance premium ONLY during the deferral period. Possible for up to 24 months ONLY except for VEFA projects where it is extended to 36 months GOOD TO KNOW: provided all funds have been drawn down, the borrower can request to start repaying the capital at any moment. Requests should be sent to the Société Générale via registered mail. Please note; unless the client makes a request to start repaying the capital the full deferral period will be allowed to run its course. VALIDITY - ACCEPTANCE OF THE OFFER Validity: 30 days from the date of its receipt by post by the borrower and guarantor where applicable. Acceptance: no earlier than 10 days after reception by the borrower and guarantor Disbursement of funds: within 4 months of the date of acceptance of the offer INSURANCE Death risk is covered up to the 31/12 following the 75th birthday. Total and irreversible loss of autonomy is covered up to 65 years old. Payment of the insurance premium starts on the 7th of the first month following the acceptance date of the mortgage offer. The bank’s administration fees are also debited. Please note that the opening of a Société Générale current account is mandatory.
This document is supplied to you by:

Berry British Centre
12 Rue Victor Hugo | 36 200 | Argenton-sur-Creuse | Indre | France | 00 33 254 01 15 24 Web : www.Berry-British-Centre.com - Contact : Mr. Didier Bujaud - e-mail : Didier@Berry-British-Centre.com


				
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posted:1/31/2010
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