{
  "table": "refinance-calculator-rules",
  "schema": 1,
  "version": "2026-11-11.1",
  "title": "Refinancing a home loan: French early repayment cap and usury ceilings; the United Kingdom's position on early repayment charges",
  "doc": "Rule table read by the refinance-calculator handler (ctx.data['refinance-calculator-rules']). Rates and shares are percentage points (5.4 means 5,40 %). The repayment arithmetic is pure maths and is not here; these are the legal values the calculator applies or checks a refinance against. France: the cap on the early repayment indemnity of a home loan (Code de la consommation, art. L313-47 and R313-25: at most six months of interest on the capital repaid, at the loan's average rate, and at most 3 % of the capital outstanding before the repayment), and the usury ceilings for fixed-rate home loans of the current quarter (art. L314-6: a loan whose APRC (TAEG) exceeds the ceiling of its category when it is granted is usurious; the TAEG is computed actuarially, art. R314-3, so it exceeds the nominal rate even before fees and insurance). United Kingdom: no statutory cap on the early repayment charge of a regulated mortgage; the charge is the one the mortgage offer sets, which the FCA requires to be a cash amount and a reasonable pre-estimate of the lender's costs (MCOB 12.3.1R), so the calculator takes it as entered. 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 (the build refuses an expired table). 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"
  },
  "sources": [
    {
      "id": "conso-r313-25",
      "label": "Légifrance : code de la consommation, article R313-25 (plafond des indemnités de remboursement anticipé d’un crédit immobilier), en vigueur depuis le 1er juillet 2016",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807572",
      "date": "2016-07-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-l313-47",
      "label": "Légifrance : code de la consommation, article L313-47 (remboursement anticipé, indemnité si le contrat la prévoit, barème fixé par décret), en vigueur depuis le 1er avril 2018",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000035731469",
      "date": "2018-04-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-l313-48",
      "label": "Légifrance : code de la consommation, article L313-48 (aucune indemnité en cas de vente après un changement de lieu de travail, un décès ou une cessation forcée d’activité)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032433263",
      "date": "2016-07-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "sp-f1669",
      "label": "Service-Public.fr : Peut-on rembourser son crédit immobilier par anticipation ? (vérifié le 16 septembre 2026)",
      "url": "https://www.service-public.gouv.fr/particuliers/vosdroits/F1669",
      "date": "2026-09-16",
      "retrieved": "2026-11-11"
    },
    {
      "id": "bdf-usure-2026-q4",
      "label": "Banque de France : Taux d’usure – 2026-Q4 (mis en ligne le 28 septembre 2026, mis à jour le 9 novembre 2026)",
      "url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
      "date": "2026-11-09",
      "retrieved": "2026-11-11"
    },
    {
      "id": "jorf-avis-usure-2026-09-25",
      "label": "Légifrance : avis du 25 septembre 2026 relatif à l’application des articles L. 314-6 du code de la consommation et L. 313-5-1 du code monétaire et financier concernant l’usure (JORF du 26 septembre 2026)",
      "url": "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528",
      "date": "2026-09-26",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-l314-6",
      "label": "Légifrance : code de la consommation, article L314-6 (prêt usuraire)",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032303335",
      "date": "2016-07-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "conso-r314-3",
      "label": "Légifrance : code de la consommation, article R314-3 (TAEG calculé actuariellement, méthode d’équivalence), en vigueur depuis le 1er octobre 2016",
      "url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807608",
      "date": "2016-10-01",
      "retrieved": "2026-11-11"
    },
    {
      "id": "fca-mcob-12-3",
      "label": "FCA Handbook: MCOB 12.3.1R, early repayment charges on regulated mortgage contracts (a cash value and a reasonable pre-estimate of the lender's costs)",
      "url": "https://www.handbook.fca.org.uk/handbook/MCOB/12/3.html",
      "date": "2026-11-11",
      "retrieved": "2026-11-11"
    },
    {
      "id": "fos-erc",
      "label": "Financial Ombudsman Service: early repayment charges (the mortgage offer or loan agreement sets the charge)",
      "url": "https://www.financial-ombudsman.org.uk/businesses/complaints-deal/mortgages/early-repayment-charges",
      "date": "2026-11-11",
      "retrieved": "2026-11-11"
    }
  ],
  "countries": {
    "FR": {
      "name": {
        "fr-FR": "France",
        "en-GB": "France"
      },
      "currency": "EUR",
      "early_repayment_cap": {
        "id": "fr-ira-cap",
        "months_of_interest": 6,
        "share_of_balance": 3,
        "rule": "When the loan contract provides for an early repayment indemnity, it may not exceed six months of interest on the capital repaid, at the loan's average rate, nor 3 % of the capital outstanding before the repayment. On a full repayment the capital repaid is the capital outstanding. No indemnity is due when the repayment follows the sale of the home after a change of place of work, the death or the forced end of the professional activity of the borrower or their spouse (art. L313-48).",
        "legal_basis": "Code de la consommation, art. L313-47, L313-48 et R313-25",
        "valid_from": "2016-07-01",
        "valid_until": null,
        "source_url": "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032807572",
        "source_date": "2016-07-01",
        "retrieved": "2026-11-11",
        "see_also": [
          "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000035731469",
          "https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000032433263",
          "https://www.service-public.gouv.fr/particuliers/vosdroits/F1669"
        ]
      },
      "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, when it is granted, the ceiling of its category (Code de la consommation, art. L314-6). The TAEG is computed actuarially (art. R314-3), so a loan repaid monthly at a nominal rate r has a TAEG of at least (1 + r/12)^12 − 1 before any fee or insurance: when that alone exceeds the ceiling, the loan cannot be lawfully offered (with these ceilings, from a nominal 4.016 % under 10 years, 4.583 % from 10 to under 20 years and 5.271 % for 20 years or more). The calculator assumes the new loan is at a fixed rate and picks the band by its term.",
        "legal_basis": "Code de la consommation, art. L314-6 ; avis du 25 septembre 2026 (JORF du 26 septembre 2026)",
        "valid_from": "2026-10-01",
        "valid_until": "2026-12-31",
        "source_url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
        "source_date": "2026-11-09",
        "retrieved": "2026-11-11",
        "see_also": [
          "https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000054903528"
        ],
        "fixed_rate_bands": [
          {
            "id": "fr-usury-fixed-under-10",
            "min_months": 1,
            "max_months": 119,
            "rate": 4.09,
            "average_rate": 3.07,
            "name": {
              "fr-FR": "prêts à taux fixe d’une durée inférieure à 10 ans",
              "en-GB": "fixed-rate loans with a term under 10 years"
            },
            "official_label": "Prêts à taux fixe d’une durée inférieure à 10 ans",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-fixed-10-to-20",
            "min_months": 120,
            "max_months": 239,
            "rate": 4.68,
            "average_rate": 3.51,
            "name": {
              "fr-FR": "prêts à taux fixe d’une durée de 10 ans à moins de 20 ans",
              "en-GB": "fixed-rate loans with a term of 10 years to under 20 years"
            },
            "official_label": "Prêts à taux fixe d’une durée comprise entre 10 ans et moins de 20 ans",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-fixed-20-plus",
            "min_months": 240,
            "max_months": null,
            "rate": 5.4,
            "average_rate": 4.05,
            "name": {
              "fr-FR": "prêts à taux fixe d’une durée de 20 ans et plus",
              "en-GB": "fixed-rate loans with a term of 20 years or more"
            },
            "official_label": "Prêts à taux fixe d’une durée de 20 ans et plus",
            "valid_from": "2026-10-01",
            "valid_until": "2026-12-31",
            "source_url": "https://www.banque-france.fr/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09",
            "retrieved": "2026-11-11"
          }
        ],
        "not_computed": [
          {
            "id": "fr-usury-variable",
            "rate": 5.52,
            "average_rate": 4.14,
            "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/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09",
            "retrieved": "2026-11-11"
          },
          {
            "id": "fr-usury-bridging",
            "rate": 6.49,
            "average_rate": 4.87,
            "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/fr/statistiques/taux-et-cours/taux-dusure-2026-q4",
            "source_date": "2026-11-09",
            "retrieved": "2026-11-11"
          }
        ]
      }
    },
    "GB": {
      "name": {
        "fr-FR": "Royaume-Uni",
        "en-GB": "United Kingdom"
      },
      "currency": "GBP",
      "early_repayment_charge": {
        "id": "gb-erc-contractual",
        "statutory_cap": null,
        "rule": "No statutory cap applies to the early repayment charge of a regulated mortgage. The mortgage offer or loan agreement sets it; the FCA requires it to be able to be expressed as a cash value and to be a reasonable pre-estimate of the lender's costs of early repayment (MCOB 12.3.1R). The calculator takes the charge as entered, as a percentage of the balance or as an amount. Applies across the United Kingdom.",
        "legal_basis": "FCA Handbook, MCOB 12.3.1R",
        "valid_from": null,
        "valid_until": null,
        "source_url": "https://www.handbook.fca.org.uk/handbook/MCOB/12/3.html",
        "source_date": "2026-11-11",
        "retrieved": "2026-11-11",
        "see_also": [
          "https://www.financial-ombudsman.org.uk/businesses/complaints-deal/mortgages/early-repayment-charges"
        ]
      }
    }
  }
}