Since the beginning of the year, French banks have rejected almost every other application for mortgage loans. Vienne is not spared from this phenomenon. However, the transaction market is not yet at a standstill.
This couple from Poitevins should have already moved into their new home in Buxerolles. The sales agreement was signed two months ago. And still… “In the beginning, it was the rate of wear that was blockingconfides Patrice. We have just reached an agreement with the regional fund, but today the rate on the borrower’s insurance, which is expensive, can cause us to exceed the attrition rate. »
This scenario has multiplied in recent months, all over France. It is therefore about the attrition rate, in other words the maximum legal interest that credit institutions are allowed to charge. With the rapid increase in interest rates, the set threshold no longer corresponds to the reality of the market and thus deprives many candidates of a mortgage loan. “Not first-time buyers, but an average clientele, over 45, with higher insurance ratesnotes Benjamin de Tugny, the president of the Charente-Vienne-Deux-Sèvres chamber in Fnaim. Before and during the summer it blocked 20% of files, quality files. This does not mean that they do not pass. But we had to fight with certain banks to find solutions. »
A “healthy” transaction market
At best, postponements have been achieved in anticipation that the rate of wear will increase. On October 1, it went from 2.57% to 3.05% for loans over 20 years and more, which has already made it possible to unblock certain files. But others were simply refused. Almost one in two (45%) since January 1, according to a survey conducted on behalf of the French Association of Bancassurance Intermediaries (Afib). “We are also noticing an increase in concern about loans, some banks are asking for larger contributions or stopping the financing of small loans that they would no longer make money on”notes Benjamin de Tugny.
In a context of tensions in the real estate market – rising prices, shortage of goods – this situation is not yet worrying, but arouses vigilance. There are beginning to be voices asking for a review of the method for calculating wear percentage and thus avoid a collapse in demand. “In Vienne, we are not yet at a standstillnotes Benjamin de Tugny. The transaction market is healthy with stable prices, but there is a need to provide more support to customers in their banking journey. We are wary of the banks continuing to play the game. For potential buyers, the period promises to be uncertain. Apart from having a significant contribution or to be able to reduce its costs, especially insurance.