If you are looking to borrow from a bank right now to make a property purchase, you may run into difficulties. In fact, banks lend less. A reluctance shared by most of the establishments. Explanations
Caroline Arnould is Development Director of Cafpi, the mortgage brokerage specialist. For some months you have noticed these difficulties: ” It has been blocked since about June. Where we had a 10% credit rejection rate, we are now around 40%! It is unprecedented. And this block also applies to what are called good profiles ”. And to give the example of a couple of tenants: Pierre, 55 and Virginie 47. With inflation, their rent went over € 1,000 per month and they felt it was a good time to borrow and become homeowners as rates were still low. Their profile is good, but their file doesn’t go through, due to the wear rate.
The usury rate was introduced to protect borrowers. It is established by the Banque de France and is supposed to prevent banks from lending too much money. The problem is that loan rates today rise faster than the usury rate (which is only revised every three months). Bank rates hit the usury ceiling and freeze!
To avoid being refused a loan, you must therefore know how to work on your practice. And you know some tricks.
“The essentialconfides Caroline Arnould, it is compare. Compare the banks, then compare the different rates. There is the loan rate, the borrower insurance rate, there are the tuition fees … So you have a lot of things you can negotiate that can allow you to drop below the usury rate and have the best deal to access credit. “
Michel Guillot, President of the France Conso Banque Association, confirms that a good dossier is in preparation: “Particular attention should be paid to immediate banking relationships in the past three months, and also in the past three years. For instance : Have you changed banks several times in these three years? Overall, banks don’t like instability. So, in the past three months, you should know that the statements are going to be peeled. Beware of payment incidents, overdrafts. Sometimes it is better to wait a while to submit a better file ”.
However Michel Guillot remains pessimistic. According to him, it is almost always the same type of file that is rejected: “One in two files is rejected. And we, what worries us is that these are fairly homogeneous profiles, first of all newcomers, fairly young, under 35 and in the first income brackets “.
Not very happy …
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