Mortgage credit intermediaries

Mortgage credit intermediaries are defined in Articles L.226-1, points 14 and 15 of the Consumer Code:

  • (14) “mortgage credit intermediary” means a natural or legal person who is not acting as a creditor or notary and not merely introducing, either directly or indirectly, a consumer to a creditor or mortgage credit intermediary, and who, in the course of his trade, business or profession, for remuneration, which may take a pecuniary form or any other agreed form of financial consideration:
    • a) presents or offers mortgage credit agreements to consumers;
    • b) assists consumers by undertaking preparatory work or other pre-contractual administration, other than as referred to in letter (a), in respect of mortgage credit agreements; or
    • c) concludes mortgage credit agreements with consumers on behalf of the creditor;
  • (15) “tied mortgage credit intermediary” means any mortgage credit intermediary who acts on behalf of and under the full and unconditional responsibility of:
    • a) only one creditor;
    • b) only one group; or
    • c) a number of creditors or groups which do not represent the majority of the market.