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frais d'acte pour une ouverture de crédit

English translation: costs, fees and taxes for taking out a mortgage

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:frais d'acte pour une ouverture de crédit
English translation:costs, fees and taxes for taking out a mortgage
Entered by: katieker
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13:31 Apr 1, 2007
French to English translations [PRO]
Law/Patents - Real Estate
French term or phrase: frais d'acte pour une ouverture de crédit
Belgian text on buying properties, mortgages etc.

Under the heading "Frais de notaire" are the two terms "Frais d'acte d'achat" and "Frais d'acte pour une
ouverture de crédit"
katieker
United Kingdom
Local time: 17:27
costs, fees and taxes for taking out a mortgage
Explanation:
in Belgium anything to do with a mortgage goes through the notary. the bank may give you the mortgage but it has to be done via notarial deed. And if you want to change your mortage, for instance to a different bank, you have to go through the notary (and pay) again (and again etc.)

--------------------------------------------------
Note added at 8 hrs (2007-04-01 21:53:30 GMT)
--------------------------------------------------

http://www.centurion-net.com/belgium.php there is also a mortgage registration tax

Calcul des frais d'actes d'emprunt


Entrez les donn�es...
Montant � financer:

Type d'emprunt
Emprunt hypoth�caire

Ouverture de cr�dit

Droits d'enregistrement:
Frais divers:
Honoraires:
----------------------------
Provision:

Ces frais sont strictement indicatifs car des diff�rences importantes peuvent �tre constat�es entre les r�gions, les villes, les dossiers eux-m�mes. Le co�t de ces formalit�s aupr�s des administrations est variable. Il s'agit donc d'un montant provisionnel qui pourrait �tre quelque peu adapt�.
Le notaire charg� de la pr�paration de l'acte peut vous donner des informations compl�mentaires
http://www.notaire.be/hypo_Bel.html

--------------------------------------------------
Note added at 8 hrs (2007-04-01 22:00:32 GMT)
--------------------------------------------------

* Charges involved in obtaining a mortgage loan: these charges comprise the fees for registering the loan deed, the notary's fees in connection with the loan, stamp duty and the costs for entering the deed in the mortgage register. These costs vary according to the amount of your loan.
http://www.ing.be/private/topics.jsp?topic=house&docid=14072...
Selected response from:

writeaway
Local time: 18:27
Grading comment
Thanks again for your help!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3 +4costs, fees and taxes for taking out a mortgage
writeaway
3 +2mortgage/loan fees and expensesxxxDCypher
3 +1incidental fees for opening a line of creditMatthewLaSon


  

Answers


4 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
mortgage/loan fees and expenses


Explanation:
As we are talking about something which is all inclusive. The Belgian specific dynamic that Writeaway mentioned of when those fees/expenses are paid and to whom will probably be apparent from the overall context.

I suggest fees and expenses because they might be some costs which can't really be classified as "fees"

xxxDCypher
Local time: 18:27
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Olli Leroy: Yes, this is more concise.
47 mins

agree  gad
6 days

neutral  MatthewLaSon: I won't disagree for the sake of theory. A line of credit is not technically a loan in a practical sense, whether it be in the US or elsewhere. See my links below.
7 days
  -> If extending a line of credit isn't lending, what is it exactly? Even credit card balances are considered loans. // Anyway, let's stick to the context of the question which is clearly mortgage related.
Login to enter a peer comment (or grade)

16 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +4
costs, fees and taxes for taking out a mortgage


Explanation:
in Belgium anything to do with a mortgage goes through the notary. the bank may give you the mortgage but it has to be done via notarial deed. And if you want to change your mortage, for instance to a different bank, you have to go through the notary (and pay) again (and again etc.)

--------------------------------------------------
Note added at 8 hrs (2007-04-01 21:53:30 GMT)
--------------------------------------------------

http://www.centurion-net.com/belgium.php there is also a mortgage registration tax

Calcul des frais d'actes d'emprunt


Entrez les donn�es...
Montant � financer:

Type d'emprunt
Emprunt hypoth�caire

Ouverture de cr�dit

Droits d'enregistrement:
Frais divers:
Honoraires:
----------------------------
Provision:

Ces frais sont strictement indicatifs car des diff�rences importantes peuvent �tre constat�es entre les r�gions, les villes, les dossiers eux-m�mes. Le co�t de ces formalit�s aupr�s des administrations est variable. Il s'agit donc d'un montant provisionnel qui pourrait �tre quelque peu adapt�.
Le notaire charg� de la pr�paration de l'acte peut vous donner des informations compl�mentaires
http://www.notaire.be/hypo_Bel.html

--------------------------------------------------
Note added at 8 hrs (2007-04-01 22:00:32 GMT)
--------------------------------------------------

* Charges involved in obtaining a mortgage loan: these charges comprise the fees for registering the loan deed, the notary's fees in connection with the loan, stamp duty and the costs for entering the deed in the mortgage register. These costs vary according to the amount of your loan.
http://www.ing.be/private/topics.jsp?topic=house&docid=14072...


writeaway
Local time: 18:27
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 86
Grading comment
Thanks again for your help!

Peer comments on this answer (and responses from the answerer)
agree  juliebarba
1 hr

agree  Istvan Nagy
1 hr

agree  Vicky Papaprodromou
2 hrs

agree  rkillings: "costs of taking out a mortgage loan" should do it. After all, fees and expenses are costs; and the mortgage (=conveyance of security interest) is not the same as the mortgage loan secured by it.
17 hrs
  -> that's a neat solution because it is about the actual costs of taking out a mortgage. prob is, when you want to change your mortage to a different bank (for a better rate, for ex.) you have to pay this all again, plus penalty interest for early repayment!

neutral  MatthewLaSon: I can't disagree with you. But, I do know this: Theoretically, it can be considered a mortgage loan in Belgium. I see know reason to deviate from what the French really says ("opening a line of credit"). It could cause confusion in a more practical sense.
7 days
  -> I've shown the Belgian refs to explain this. You can't just look at a dictionary -this is very specific to here. Really.
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14 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
incidental fees for opening a line of credit


Explanation:
Hello,

ouverture de crédit = opening a line of credit (this is not a mortgage loan)

It's similar to a credit card account.

The banks offers you a credit line of $XXXX to be used as you wish. You could use a line of credit to pay down or off an already existing mortgage.

frais d'acte = incidental fees (taxes, administration fees, notary fees, etc)

I hope this helps.

--------------------------------------------------
Note added at 14 hrs (2007-04-02 03:33:05 GMT)
--------------------------------------------------

http://www.realestate.com/tipsandtools/Special-Mortgage-Prog...

--------------------------------------------------
Note added at 7 days (2007-04-09 00:40:05 GMT)
--------------------------------------------------

I do know in France a distinction is between a "prêt hypothécaire" and an "ouverture de crédit." In Belgium, I know a distinction is made as well. For theoretical purposes, one could consider a them to be synonyms, but in a more practical sense, I'd hesitate to see them as such. "Opening a line of credit" would be the safest and most accurate translation.

http://new.cash.be/articles/index.jsp?articleID=51510§io...

http://www.crediteam.be/fr/fr_info_loan.php

MatthewLaSon
Local time: 12:27
Native speaker of: Native in EnglishEnglish
PRO pts in category: 108

Peer comments on this answer (and responses from the answerer)
agree  gad
5 days
  -> Thanks, gad! * ouverture de crédit * = * opening a line of credit *, in a practical sense. I hope this asker does not translate this as a "loan." One can get a line of credit to pay off an existing mortgage.

neutral  xxxDCypher: extending credit...in any form...qualifies as lending, if that helps. However, this discussion is not really relevant as I don't believe "Lines of credit" as you intend it is the correct interpretation.
6 days

neutral  writeaway: how many mortgages have you taken out here in Belgium? You don't seem to have bothered looking at the specifically Belgian refs. You can't sit in the US/Pa. or wherever and just translate everything from that perspective./this is an overture de crédit
6 days
  -> In a theoretical sense, it can be considered a loan, but not in a practical sense. See my links above, particularly the one relating to the Belgium system.
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