What do the French call a mortgage? [ˈmɔːʳɡɪdʒ ] (= loan) emprunt m immobilier. What is the real meaning of mortgage? death pledge “Word nerds will notice an eerie root word in ‘mortgage’ — ‘mort,’
What do the French call a mortgage?
[ˈmɔːʳɡɪdʒ ] (= loan) emprunt m immobilier.
What is the real meaning of mortgage?
“Word nerds will notice an eerie root word in ‘mortgage’ — ‘mort,’ or ‘death,'” Weller writes. “The term comes from Old French, and Latin before that, to literally mean ‘death pledge. ‘” That may seem a little severe. After all, the home you’ve bought is somewhere you’re going to live.
Why is a mortgage a death pledge?
mortgage (n.) late 14c., from Old French morgage, literally “dead pledge,” from mort “dead” + gage “pledge.” So called because the deal dies when the debt is paid or when payment fails.
How much deposit do I need for a house in France?
For a French mortgage, you will generally need a minimum deposit of at least 15% to 25% of the property’s purchase price, with rates that are fixed or variable. “The max for a repayment loan is 85%, but there is only one lender who will go this high,” John comments.
Can I live in France if I buy property?
There are no restrictions for foreign investors buying a house in France, even non-residents. Once you own a residential property in France, you’ll also pay pro-rata land tax and local taxes, taxe d’habitation.
Why do they call it a mortgage?
The word mortgage is derived from a Law French term used in Britain in the Middle Ages meaning “death pledge” and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure.
What is a dead pledge?
The verb is first attested 1467. The term comes from the Old French “dead pledge,” and apparently meaning that the pledge ends (dies) either when the obligation is fulfilled or the property is taken through foreclosure: Coke, Edward.
Is it difficult to buy a house in France?
There are currently no restrictions on foreigners buying property in France, however, you may find the process a bit more difficult as a non-resident. This means quite a lot of paperwork and due diligence. If you’re working with a real estate agent, the process is likely to be relatively straightforward.