Glossary entry (derived from question below)
French term or phrase:
terme avance prel a la real
English translation:
upfront commission/charge(, charged) on completion (GB), at closing (US)
Added to glossary by
Joshua Parker
Dec 10, 2020 23:03
3 yrs ago
30 viewers *
French term
terme avance prel a la real
French to English
Bus/Financial
Finance (general)
Offre de prêt immobilier
Dans une offre de prêt immobilier faite par Crédit Agricole (France) :
Coût total du crédit
Intérêts du crédit ... XXX
Coût de l'assurance décès invalidité obligatoire... XXX
Commission de crédit logement **terme avance prel a la real** : 400,00 EUR
Fmg crédit logement **terme avance prel a la real** : 1 810,80 EUR
Frais fiscaux: 0,00 EUR
C'est écrit comme ça - je ne trouve aucune explication en ligne.
An example of the exact same document I'm translating is available here https://www.yumpu.com/fr/document/read/16690393/monsieur-dur... - this part is on page 8.
J'ai trouvé d'autres exemples de cette formulation, par ex. https://www.forumconstruire.com/construire/topic-145969.php mais rien qui m'explique le sens de cette phrase.
J'imagine que "prel" veut dire prélèvement/prélevé - je me suis dit qu'il s'agit peut-être du prélèvement sur la restitution de mutualisation (https://www.creditlogement.fr/la-vie-de-votre-pret-garanti) mais ça s'applique également au FMG (= fonds mutuel de garantie) donc ça n'aurait pas vraiment de sens.
Qu'en pensez-vous ?
Target: U.S. English.
Coût total du crédit
Intérêts du crédit ... XXX
Coût de l'assurance décès invalidité obligatoire... XXX
Commission de crédit logement **terme avance prel a la real** : 400,00 EUR
Fmg crédit logement **terme avance prel a la real** : 1 810,80 EUR
Frais fiscaux: 0,00 EUR
C'est écrit comme ça - je ne trouve aucune explication en ligne.
An example of the exact same document I'm translating is available here https://www.yumpu.com/fr/document/read/16690393/monsieur-dur... - this part is on page 8.
J'ai trouvé d'autres exemples de cette formulation, par ex. https://www.forumconstruire.com/construire/topic-145969.php mais rien qui m'explique le sens de cette phrase.
J'imagine que "prel" veut dire prélèvement/prélevé - je me suis dit qu'il s'agit peut-être du prélèvement sur la restitution de mutualisation (https://www.creditlogement.fr/la-vie-de-votre-pret-garanti) mais ça s'applique également au FMG (= fonds mutuel de garantie) donc ça n'aurait pas vraiment de sens.
Qu'en pensez-vous ?
Target: U.S. English.
Proposed translations
(English)
| 3 +1 | upfront commission/charge, charged on completion |
Mpoma
|
Proposed translations
+1
10 hrs
Selected
upfront commission/charge, charged on completion
The context here is so clear, how could it be anything else?
There are various commissions and extras you get charged for when getting a mortgage, but you can kind of forget about them if they aren't charged unless the deal goes ahead. No completion, no property purchase, everyone pays the lawyers (unless they too are working on "no completion no fee", which certainly happens in Anglo-Saxonia), and goes away unhappy.
But at least you haven't had to pay some commission to a middle-woman mortgage broker.
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Note added at 10 hrs (2020-12-11 09:59:37 GMT)
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PS "upfront" thus means "before the term of the loan starts", obvs, rather than being drip-deducted by being added to the mensualités over the term of the loan.
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Note added at 11 hrs (2020-12-11 10:05:27 GMT)
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PS Asker: just seen you express some doubt about "completion". This is definitely the right word for a property transaction: first you have the promesse, then the réalisation, which is when the ownership changes hands in law, but is quite predictable in 99.9% of cases and only dramatic if someone fails to come up with the completion money.
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Note added at 2 days 20 hrs (2020-12-13 19:36:00 GMT)
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as per philgoddard's discussion comment, for the US English version, as requested by the Asker, this should be "upfront commission/charge, charged on/at **closing**"
There are various commissions and extras you get charged for when getting a mortgage, but you can kind of forget about them if they aren't charged unless the deal goes ahead. No completion, no property purchase, everyone pays the lawyers (unless they too are working on "no completion no fee", which certainly happens in Anglo-Saxonia), and goes away unhappy.
But at least you haven't had to pay some commission to a middle-woman mortgage broker.
--------------------------------------------------
Note added at 10 hrs (2020-12-11 09:59:37 GMT)
--------------------------------------------------
PS "upfront" thus means "before the term of the loan starts", obvs, rather than being drip-deducted by being added to the mensualités over the term of the loan.
--------------------------------------------------
Note added at 11 hrs (2020-12-11 10:05:27 GMT)
--------------------------------------------------
PS Asker: just seen you express some doubt about "completion". This is definitely the right word for a property transaction: first you have the promesse, then the réalisation, which is when the ownership changes hands in law, but is quite predictable in 99.9% of cases and only dramatic if someone fails to come up with the completion money.
--------------------------------------------------
Note added at 2 days 20 hrs (2020-12-13 19:36:00 GMT)
--------------------------------------------------
as per philgoddard's discussion comment, for the US English version, as requested by the Asker, this should be "upfront commission/charge, charged on/at **closing**"
Peer comment(s):
| agree |
Adrian MM.
: Assuming the accents are missing, as in terme avancé and prél réalisation, I think you're right - except 'at close' or on being closed in the US, cf. the inconclusive 'closing' discussion entry, rather than 'on completion' as bog-standard in the UK.
8 hrs
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Thanks
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| neutral |
Francois Boye
: Why don't you tell us what the expression means in FRENCH?
12 hrs
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see discussion: "prélèvement à réalisation"
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4 KudoZ points awarded for this answer.
Comment: "This must be "prélèvement à réalisation", then. Thank you!"
Discussion
One possible explanation for this might be that this is a fairly new and as yet rare way of proceeding in French property transactions.
French Résistance to what the French State and lenders have traditionally considered to be dubious Anglo-Saxon financial practices, usually intended to make property ownership supposedly too easy (e.g. long mortgage terms), has been relentlessly obdurate, and yet there is also a long tradition of the French system gradually yielding to such "market pressure".