For the first time, the 6 professional associations of intermediaries in banking and payment services (IOBSP) – CNCEF, Afib, Anacofi, Apic, CNCGP, La società des CGP – have conducted a survey of the Opinion System of credit intermediaries (1,471 respondents) in order to quantify and highlight the obstacles to their business, which are in particular usury rates and HCSF standards. The objective of this survey is to provide market players, but also the Ministries of Housing and the Economy, with representative statistics on loan refusals in order to raise awareness of the difficulties of the profession, but also and above all of those who currently wish to access real estate, with the risk of blocking the market if nothing is done to remove the constraints currently affecting the granting of credit.
For 40% of credit intermediaries, more than 4 out of 10 cases are rejected
1uh The lesson learned from this survey concerns the rejection rate observed by IOBSPs since the beginning of the year. ” We have never been faced with so much rejection on our files submitted to banks. For 40% of our intermediaries, 40% of files are rejected and for 85% the rejection rate exceeds 20%. Outstanding results on the problems faced by borrowers in accessing finance for their real estate project He observes Bruno Rouleau, President of APIC.
First reason for refusal: the wear rate for 36% of files follow-up of HCSF standards for 31% of themtwo major obstacles to access to credit since the beginning of the year, which they therefore represent almost 7 out of 10 waste!
On the part of the banks, the main reasons given to justify the lack of support for the practices presented by the IOBSPs are the exceeding of the usury rate even for 39% of the cases, or the fact that the borrower does not meet his criteria for 27% of the cases. cases. It should be noted that only 15% of the practices rejected by the banks are linked to the fact that the practice comes from a credit intermediary.
Banks are asking for taxes to be lowered so as not to exceed the usury rate
To try to overcome a case despite the wear rate, 18% of banks systematically ask for lower brokerage fees, with the aim of lowering the APR, and 43% often ask for it. ” If the increase in rejections is not linked specifically to a banks’ distrust of brokers but more to the level of usury rates, we have a sense of injustice when banks systematically ask us to lower our fees even if in the current period. we are seeing an increase in the volume of work on each of the credit practices. However, the important thing is to reach an agreement for our customers, we are ready in some cases to do what is necessary to … Hoping, however, that these context-related fee reduction requests are only very temporary and you will not jeopardize the sustainability of practices “, To explain Bruno Rotolo.
In addition to this request for a reduction in fees, a decrease in the number of loan requests has been recorded since the beginning of the year. In fact, more than half of brokers (56%) experienced a drop in demand between 0 and 25% e more than a third of brokers (36%) experienced a decline of between 25 and 50%. “Fortunately, only 10% of brokers have seen a drop in demand of more than 50%. The current period is therefore doubly complicated because there is both a decline in demand linked to the wait-and-see attitude of buyers, but also a decline in the supply of credit with banks less encouraged to lend in this context of decline in the profitability of loans granted. , complete.
The usury rate affects all borrowers
As for the files most affected by the waste related to the wear rate, we find buyers of a main residence at 71%, followed by investors with 24%.
All profiles combined, it is borrowers between the ages of 30 and 55 who are the most affected according to 51% of brokers, i.e. most of the market … ” The usury rate has become the major problem for access to finance, and it affects all borrowers, whatever their age or project, so we want to alert, with the whole profession, to the risk of exclusion of a growing number of buyers. resulting in a blockage of the real estate market He complains Bruno Rotolo.
“Don’t be fooled by the 1uh four months of the year, which mainly concern applications accepted at the end of 2021 or the very beginning of 2022. The sharp slowdown we are experiencing will be transposed into the data in the autumn, with strong inertia before a possible restart in 2023 and which will be spread over several months. And all the more so since the appetite of the candidates for membership has bogged down banking services in the elaboration of projects, which are now often postponed by the evolution of market conditions ”. to review Bruno Rotolo.
“There is an urgent need to better adhere to the reality of the interest rate situation, to make room for banks, whose ability to control their risks with households in many circumstances has been acclaimed, to allow them to amortize this shutdown. . Finally, it is necessary to reconsider the topicality of the recommendations of the Higher Council for Financial Stability, the effects of which accentuate the decline. With more than 20% of the average advance on projects, clients will not be able to do more and there is no alternative. sufficient in terms of available rental supply, which in turn is strongly influenced by inflation.
Survey conducted by OPINION SYSTEM between 8 July 2022 and 22 July 2022 – 1471 respondents