Picard Credit Solutions

Financial Glossary

Understand the essential terms of credit and financing.

Progressive repayment of borrowed capital over the loan's scheduled instalments.

The total annual cost of a loan including interest, insurance, and fees — used to compare offers.

Maximum amount a person can borrow based on their income and outgoings.

Intermediary who negotiates the best loan terms with banks on behalf of the borrower.

Short-term loan allowing you to buy a new property before selling the current one.

Security required by the bank to cover the risk of non-repayment, such as a mortgage or pledge.

Loan for goods or services excluding real estate, capped at €75,000 in France.

14-day period during which the borrower can cancel the agreement without penalty.

Merging multiple loans into one to reduce monthly repayments.

Ratio of monthly debt repayments to net income, generally capped at 35%.

Amount the borrower invests from personal funds, reducing the amount to borrow.

Charges applied by the bank when a loan is repaid ahead of schedule.

Interest rate that stays the same throughout the loan, ensuring stable monthly payments.

Security demanded by the lender, such as mortgage, surety bond, or pledge.

Periodic (usually monthly) payment combining principal and interest.

Technique to level out monthly payments when multiple loans overlap.

Total period over which the borrower repays the loan, expressed in months or years.

Property-backed guarantee allowing the bank to seize the property in case of default.

French register of insurance, banking, and finance intermediaries, guaranteeing broker professionalism.

Costs charged by the bank for appraising and setting up the loan.

Amount left each month after all charges and loan repayments.

Maximum legal interest rate above which a lender cannot grant a loan, set quarterly by the central bank.

Interest rate that fluctuates with a benchmark index, which can vary monthly payments.