This means that when the Annual Percentage Rate (APR) shown on the loan offer does not include the cost of bond mutual disqualifications to the interests of the Bank shall be delivered.
It is therefore a particularly heavy penalty for credit institutions.
"Having regard to Article L. 313-1 of the Consumer Code;
Whereas the CL X. .. consented to a loan of $ 496,983 EUR TEG 8.449% to fund the acquisition of property and with a guarantee underwritten by the company Interfimo, having repaid the loan early, MX .. sought in vain for the return of the holdback;
Whereas for the dismissal of M X. .. his request to see the disqualification rule to the interests of the lender because of the lack of integration of warranty costs in calculating the annual percentage rate, the Court of Appeal ruled that the burden of holdback that can not be accurately determined by the borrower previously the conclusion of the loan to the extent that reimbursement is uncertain in principle and in amount shall be considered one of the exceptions defined in Article L. 313-1, paragraph 2, of the Consumer Code;
What so ruling, while the amount paid by the borrower under the constitution of a guarantee fund set up by a mutual guarantee company to ensure the proper execution of the loan, whose amount is determined at the conclusion of the loan, is imposed as a condition for granting it so it must be taken into account when calculating the effective interest , Court of Appeal violated the said draft;
FOR THESE REASONS:
BRAIN AND VOID, in all its provisions, the ruling March 19, 2009, between the parties, the Court of Appeal of Dijon; shall, therefore, the cause and the parties in the state where they were before that Judgement, and to be granted, the returns before the appellate court in Besancon. "
Yann Whereas the CL X. .. consented to a loan of $ 496,983 EUR TEG 8.449% to fund the acquisition of property and with a guarantee underwritten by the company Interfimo, having repaid the loan early, MX .. sought in vain for the return of the holdback;
Whereas for the dismissal of M X. .. his request to see the disqualification rule to the interests of the lender because of the lack of integration of warranty costs in calculating the annual percentage rate, the Court of Appeal ruled that the burden of holdback that can not be accurately determined by the borrower previously the conclusion of the loan to the extent that reimbursement is uncertain in principle and in amount shall be considered one of the exceptions defined in Article L. 313-1, paragraph 2, of the Consumer Code;
What so ruling, while the amount paid by the borrower under the constitution of a guarantee fund set up by a mutual guarantee company to ensure the proper execution of the loan, whose amount is determined at the conclusion of the loan, is imposed as a condition for granting it so it must be taken into account when calculating the effective interest , Court of Appeal violated the said draft;
FOR THESE REASONS:
BRAIN AND VOID, in all its provisions, the ruling March 19, 2009, between the parties, the Court of Appeal of Dijon; shall, therefore, the cause and the parties in the state where they were before that Judgement, and to be granted, the returns before the appellate court in Besancon. "
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