Home / Business owners & succession / Lombard loans and financing
Financing
Finance without selling: your investments serve as collateral and stay invested.
Buy a property, finance a project or a company without surrendering your assurance-vie or selling your securities: a loan secured by your assets avoids triggering the capital gain and preserves your contracts' tax seniority. We put you in touch with our partner banks.
Three types of financing
Depending on what you are financing, and what you hold.
A loan secured by a pledge over a securities portfolio or an assurance-vie contract, which remain in your name. Often short-term, repaid in one go. The proportion financed depends on the assets: higher on a euro fund than on equities.
You pay only the interest, and the capital in one go at maturity, secured by a pledged assurance-vie contract. For unfurnished lettings, the interest is deductible from rents (Article 31 of the French Tax Code).
Main or second home, buy-to-let investment: the conventional loan, at a fixed rate or a capped variable rate, repaid monthly.
Sell or borrow
The comparison is made after tax.
| What changes | Selling to finance | Borrowing against collateral |
|---|---|---|
| Tax | 31.4% on the capital gain on securities sold; tax on the gains of a surrendered assurance-vie | None: nothing is sold |
| Your investments | Reduced by the amount sold | Intact, pledged to the bank, they stay invested |
| The cost | Tax on the capital gain, and the forgone return on the sums withdrawn | The interest on the loan |
We put you in touch with our partner banks: they review the application and make the loan offer.
Frequently asked questions
What clients ask us.
Which investments can secure a Lombard loan?
A securities portfolio, an assurance-vie or capitalisation contract, pledged to the bank: they remain in your name. The pledging of an assurance-vie contract is provided for by the Insurance Code (Article L132-10). The proportion financed depends on the nature of the assets, higher on a euro fund than on equities.
Is the interest deductible?
Yes, from property income, when the loan finances the purchase, construction, repair or improvement of a property let unfurnished: what counts is the use of the funds, not the collateral (Article 31 of the French Tax Code). In an interest-only loan backed by an assurance-vie, the sums paid into the contract are not deductible.
What is your role in the loan?
First we compare selling and borrowing, after tax: on a portfolio showing a gain, selling costs 31.4% of the gain in 2026. Then we put you in touch with our partner banks, who review the application and make the offer.
