{
  "table": "mortgage-calculator-rules",
  "schema": 1,
  "version": "2026-11-11.1",
  "title": "Mortgage lending limits: France and United Kingdom",
  "doc": "Rule table read by the mortgage-calculator handlers (ctx.data['mortgage-calculator-rules']). Rates and shares are percentage points (5.4 means 5,40 %). Nothing here changes the repayment arithmetic, which is pure maths; these are the limits the calculator checks a loan against. France: the quarterly usury ceilings for fixed-rate home loans (Code de la consommation, art. L314-6: a loan whose APRC exceeds the ceiling is usurious; the ceiling is the average rate of the previous quarter increased by a third) and the HCSF lending standard (decision D-HCSF-2021-7: debt-service-to-income at most 35 %, term at most 25 years, 27 with a deferral, a 20 % flexibility margin). United Kingdom: the Financial Policy Committee's loan-to-income flow limit (at most 15 % of new residential mortgages at 4.5 times income or more, across the market) and Bank Rate, quoted on the page for tracker mortgages. Table-level valid_from/valid_until bound the period during which this version may be relied on: the usury ceilings change every quarter, so the table must be reviewed before 1 January 2027. Entry-level valid_from/valid_until bound each value; a null valid_until means in force until changed. source_url is the primary source, source_date that source's own date, retrieved the date the value was read there.",
  "reviewed_on": "2026-11-11",
  "reviewed_by": "apps-calculators agent (automated research against official sources, 2026-11-11); owner review pending",
  "valid_from": "2026-11-11",
  "valid_until": "2026-12-31",
  "locale_country": {
    "fr-FR": "FR",
    "en-GB": "GB"
  },
  "countries": {
    "FR": {
      "name": {
        "fr-FR": "France",
        "en-GB": "France"
      },
      "currency": "EUR",
      "usury": {
        "id": "fr-usury-2026-q4",
        "period": {
          "fr-FR": "4e trimestre 2026",
          "en-GB": "fourth quarter of 2026"
        },
        "rule": "A home loan is usurious when its APRC (TAEG) exceeds the ceiling of its category at the time it is granted (Code de la consommation, art. L314-6). The comparison is strict: a TAEG equal to the ceiling is allowed.",
        "legal_basis": "Code de la consommation, art. L314-6; avis de la Banque de France publié au Journal officiel",
        "valid_from": "2026-10-01",
        "valid_until": "2026-12-31",
        "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
        "source_date": "2026-09-23",
        "retrieved": "2026-11-11",
        "fixed_rate_bands": [
          {
            "id": "fr-usury-fixed-under-10",
            "min_months": 0,
            "max_months": 119,
            "rate": 4.09,
            "name": {
              "fr-FR": "d’une durée inférieure à 10 ans",
              "en-GB": "with a term under 10 years"
            },
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
            "source_date": "2026-09-23",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-fixed-10-to-20",
            "min_months": 120,
            "max_months": 239,
            "rate": 4.68,
            "name": {
              "fr-FR": "d’une durée de 10 ans à moins de 20 ans",
              "en-GB": "with a term of 10 years to under 20 years"
            },
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
            "source_date": "2026-09-23",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-fixed-20-plus",
            "min_months": 240,
            "max_months": null,
            "rate": 5.4,
            "name": {
              "fr-FR": "d’une durée de 20 ans et plus",
              "en-GB": "with a term of 20 years or more"
            },
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
            "source_date": "2026-09-23",
            "retrieved": "2026-11-11"
          }
        ],
        "not_computed": [
          {
            "id": "fr-usury-variable",
            "rate": 5.52,
            "name": {
              "fr-FR": "prêts immobiliers à taux variable",
              "en-GB": "variable-rate home loans"
            },
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
            "source_date": "2026-09-23",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-bridging",
            "rate": 6.49,
            "name": {
              "fr-FR": "prêts relais",
              "en-GB": "bridging loans"
            },
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
            "source_date": "2026-09-23",
            "retrieved": "2026-11-11"
          }
        ]
      },
      "hcsf": {
        "id": "fr-hcsf-d-2021-7",
        "rule": "Lenders keep the debt-service-to-income ratio of home-loan borrowers at or below the limit (all loan payments, borrower insurance included, over income) and the term at or below the maximum; a deferral equal to the delay before the buyer can move in is tolerated up to the longer maximum for new builds and for existing homes bought with major works; lenders may depart from these criteria for up to the flexibility share of their new home loans each quarter.",
        "legal_basis": "Décision n° D-HCSF-2021-7 du 29 septembre 2021 relative aux conditions d’octroi de crédits immobiliers, modifiée (D-HCSF-2023-2)",
        "max_effort_rate": 35,
        "max_term_years": 25,
        "max_term_years_with_deferral": 27,
        "flexibility_share": 20,
        "valid_from": "2022-01-01",
        "valid_until": null,
        "source_url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000044178669",
        "source_date": "2021-09-29",
        "retrieved": "2026-11-11",
        "see_also": [
          {
            "label": "ACPR, Analyses et synthèses n° 183, Le financement de l’habitat en 2025: the binding HCSF standard (35 %, 25 years, 20 % flexibility) is in force",
            "url": "https://acpr.banque-france.fr/system/files/2026-07/202607_AS183_Financement_habitat_2025.pdf",
            "date": "2026-07-15"
          },
          {
            "label": "Service-Public.fr, Crédit immobilier: the lender checks that loan and insurance payments do not exceed 35 % of income",
            "url": "https://www.service-public.gouv.fr/particuliers/vosdroits/F16123",
            "date": "2024-04-05"
          }
        ]
      }
    },
    "GB": {
      "name": {
        "fr-FR": "Royaume-Uni",
        "en-GB": "United Kingdom"
      },
      "currency": "GBP",
      "lti": {
        "id": "gb-fpc-lti-flow-limit",
        "rule": "The Financial Policy Committee recommends that, across the market, no more than the flow-limit share of new residential mortgages is lent at a loan-to-income ratio at or above the threshold. Since 28 October 2026 there is no longer a firm-specific cap: an individual lender may go above the share while the market as a whole stays within it. Further advances and retirement interest-only mortgages are excluded. It applies across the United Kingdom.",
        "legal_basis": "FPC Recommendation on loan-to-income ratios in mortgage lending; PRA PS19/26 and FCA guidance, commencing 28 October 2026",
        "threshold": 4.5,
        "flow_limit_share": 15,
        "valid_from": "2026-10-28",
        "valid_until": null,
        "source_url": "https://www.bankofengland.co.uk/prudential-regulation/publication/2026/october/high-loan-to-income-lending-policy-statement",
        "source_date": "2026-10-14",
        "retrieved": "2026-11-11"
      },
      "bank_rate": {
        "id": "gb-bank-rate",
        "rule": "Bank Rate, set by the Monetary Policy Committee. Tracker mortgages follow it; it is quoted on the page and not used in any calculation.",
        "rate": 4,
        "valid_from": "2026-11-05",
        "valid_until": null,
        "source_url": "https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp",
        "source_date": "2026-11-05",
        "retrieved": "2026-11-11"
      }
    }
  },
  "sources": [
    {
      "id": "bdf-usure-2026-q4",
      "label": "Banque de France: taux d’usure applicables au 1er octobre 2026 (tableau du 23 septembre 2026)",
      "url": "https://www.banque-france.fr/system/files/webstats/Taux_dusure_2026T4_20260928/FR_202610_RESULT_TABLEAU_INTERNET_USURE_23Sep26.pdf",
      "date": "2026-09-23"
    },
    {
      "id": "hcsf-d-2021-7",
      "label": "Légifrance: décision du 29 septembre 2021 relative aux conditions d’octroi de crédits immobiliers (D-HCSF-2021-7)",
      "url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000044178669",
      "date": "2021-09-29"
    },
    {
      "id": "acpr-as183",
      "label": "ACPR (Banque de France): Le financement de l’habitat en 2025, Analyses et synthèses n° 183",
      "url": "https://acpr.banque-france.fr/system/files/2026-07/202607_AS183_Financement_habitat_2025.pdf",
      "date": "2026-07-15"
    },
    {
      "id": "sp-f16123",
      "label": "Service-Public.fr: crédit immobilier (prêt immobilier)",
      "url": "https://www.service-public.gouv.fr/particuliers/vosdroits/F16123",
      "date": "2024-04-05"
    },
    {
      "id": "tresor-eco-277",
      "label": "Direction générale du Trésor: Trésor-Éco n° 277, Les mesures macroprudentielles sur les emprunts immobiliers (worked example, box 1)",
      "url": "https://www.tresor.economie.gouv.fr/Articles/32e62ce6-8a9b-4982-b940-eb3413ec49f0/files/473dad30-ce30-4d9a-9d56-219c757e35ca",
      "date": "2021-02-01"
    },
    {
      "id": "boe-ps19-26",
      "label": "Bank of England (PRA): PS19/26, High loan to income lending, policy statement",
      "url": "https://www.bankofengland.co.uk/prudential-regulation/publication/2026/october/high-loan-to-income-lending-policy-statement",
      "date": "2026-10-14"
    },
    {
      "id": "boe-bank-rate",
      "label": "Bank of England: Bank Rate history (4.00% from 5 November 2026)",
      "url": "https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp",
      "date": "2026-11-05"
    },
    {
      "id": "boe-what-are-interest-rates",
      "label": "Bank of England: What are interest rates? (worked example, £130,000 over 25 years)",
      "url": "https://www.bankofengland.co.uk/explainers/what-are-interest-rates",
      "date": "2026-11-05"
    }
  ]
}