Mortgage loan offer: FISE and 10-day processing time

When a bank approves your mortgage application, it must send you a loan offer free of charge, along with the European Standardised Information Sheet (ESIS), no later than the date the offer is issued. You then have a 10-day cooling-off period, starting the day after you receive the offer: you cannot return the signed offer before the end of this period. The bank must maintain its offer for at least 30 calendar days from the date of receipt.

This page covers the offer's deadlines and content, based on the official websites of service-public.gouv.fr and economie.gouv.fr. It does not address the condition precedent of obtaining the loan, the insurance change procedure, or application fees. It does not provide any interest rates.

Deadlines in a table

FISE: a summary of the offer

The FISE (Financial Information Statement) is a document that banks must use when offering a mortgage. economie.gouv.fr explains that it summarizes the main features of the loan offer. It notably indicates the interest rate and other fees, as well as the number and frequency of payments. The DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control) specifies that it includes personalized information.

Its role is to facilitate comparison. According to the DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control), this common model helps to better compare products distributed on the market. The APR (Annual Percentage Rate) is one of the main criteria for comparing offers.

What the loan offer should contain

The DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control) indicates that the offer must specify, in particular, the nature, purpose, and terms of the loan. The detailed list on service-public.gouv.fr (information verified on 05/04/2024) mentions, for a fixed-rate loan:

• the name of the bank, your identity and that of your possible guarantor; ;
• the nature of the loan, for example subsidized loan, zero interest loan or traditional bank loan; ;
• the purpose of the loan, for example the purchase of a new or old home or a construction; ;
• the date on which the funds will be available; ;
• the amount of the loan, its interest rate and its APR; ;
• the "required guarantees" (term from the document); ;
• the conditions for transferring the loan to another person; ;
• the statement that you can take out insurance with the insurer of your choice; ;
• the amortization schedule, which details the portion of each monthly payment allocated to principal and interest.

For a variable or adjustable rate loan, the information sheet adds two elements: an information document of an indicative nature, with a simulation of the impact of a variation in the rate, and a notice on the conditions and procedures for variation of the rate.

The bank must also inform you of the risks associated with taking out a loan, according to economie.gouv.fr.

Ten days to reflect, thirty days to maintain

Two time limits coexist and do not have the same role.

• Maintaining the supply. The bank must maintain the conditions of its loan offer for a minimum period of 30 calendar days, from the moment you receive it (service-public.gouv.fr).
• Reflection. You have 10 calendar days from receipt of the offer to accept or refuse it. This period begins the day after you receive it. economie.gouv.fr describes this as a mandatory minimum reflection period. service-public.gouv.fr states that you can return the offer to the lender from the 11th day onwards, by dated and signed letter. An alternative method to postal mail may be used to ensure the date of acceptance is verifiable.

economie.gouv.fr says it in one sentence: you must wait until the end of this period to return the signed loan offer.

Reflection or retraction: two different concepts

The cooling-off period precedes the conclusion of the contract: the DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control) presents it as a period granted to the consumer to reflect on their commitment. The right of withdrawal, on the other hand, allows consumers to change their minds once the contract has been formed.

The DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control) guidelines on time limits classify a 10-day cooling-off period for mortgage loans and a 14-day withdrawal period for consumer credit. This guidance does not mention a withdrawal period for mortgage loans themselves: this page neither states nor excludes it. The same guidance cites a 10-day withdrawal period for the purchase or construction of a home: this relates to the purchase of the property, not the loan, and is not addressed here. Check your offer.

Insurance: you retain the choice

According to the DGCCRF (French Directorate General for Competition Policy, Consumer Affairs and Fraud Control), you are not obligated to take the group insurance offered by the lending institution. You can choose another insurer whose policy offers a level of coverage equivalent to that of the lender's group insurance. economie.gouv.fr specifies that information on whether the insurance is mandatory or optional must be provided in the initial offer. This page does not describe the procedure for changing insurance providers.

Mortgage loan offer: numerical example (fictitious profile)

Situation. A couple from Lyon receives a loan offer for a purchase. Hypothetical scenario assumptions: offer received on October 6, 2026; the bank submitted the FISE form with the offer; the 10-calendar-day period begins the day after receipt, therefore October 7 is the first day.

Issue. Can they return the offer signed on October 13, 2026? And on October 18, 2026?

Strategy. Count the days that have passed since receipt (October 7th being the first day) and compare them to the 10-day cooling-off period. The 10th day falls on October 16th, so the offer can be returned from the 11th day, which is October 17th.

Result.

The offer cannot be returned on October 13th. The deadline is October 18th. Near the deadline, keep proof of the date of receipt. This profile is fictitious and does not reflect your situation.

Mortgage loan offer: what changes depending on your situation

• Your offer : it may contain elements specific to your loan, such as "required guarantees" or a variable rate.
• The date of receipt : it triggers the reflection period, it must be possible to prove it.
• Your insurance : the choice of insurer is free, with equivalent coverage.
• Your purchase project : the terms of the agreement and the suspensive condition are not addressed here.
• Your borrower profile This page does not comment on the bank's agreement or its conditions.

The rule depends on your situation. No results are guaranteed.

Balmont Conseil can connect you with its banking partners for a financing project. This page does not display any interest rates.