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Real estate loans : the maximum debt ratio increased to 35%, la durée à 27 ans… Les règles s’assouplissent

• • Source SOUTH WEST by the 18/12/2020

In order to facilitate access to credit for the poorest households, especially first-time buyers, Bercy has decided to ease the pressure on the banks

Plus de souplesse dans le délai de remboursement maximum et un taux d’endettement relevé à 35% : the Minister of the Economy Bruno Le Maire announced Thursday a modification of the mortgage rules, in particular to help first-time buyers.

The High Council for Financial Stability (HCSF), which brings together, among others, the Ministry of the Economy and the Banque de France, decided on Thursday to relax the rules limiting the granting of mortgage loans, which had been hardened a year ago, to limit household over-indebtedness.

The maximum duration of debt will drop from 25 at 27 years : si la durée maximum de l’amortissement restera de 25 years, a deferred amortization, which can be up to two years, will be admitted.

The deferred amortization makes it possible to delay the repayment of the capital, and to pay only the interest at first. This scenario often occurs when purchasing off-plan or if major work is required.

More flexibility

The maximum debt rate will be increased to 35% against 33% previously, which corresponds to a third of the borrower's income. In addition, the volume of exceptions to these rules will increase from 15% at 20% of all the credits granted, detailed the minister during a conference call with journalists.

This development aims to ensure more flexibility “especially for first-time buyers, to guarantee the dynamism of the real estate market”, defended the minister.

Wednesday evening, the governor of the Banque de France François Villeroy de Galhau had already opened the door to a relaxation, in an interview with Economic Alternatives.

“I am ready to offer a limited adjustment, reasonable, certain criteria, mais à la condition qu’on garde clairement et fermement le cap : that of stopping a continuous drift of the granting conditions, which would expose households to the risk of over-indebtedness”, he declared.

Satisfied professionals

This easing satisfied real estate and finance professionals, who have been asking the authorities for months to boost the real estate sector.

The French Banking Federation has announced its “satisfaction”.

For Jean-Marc Torrollion, President of the National Federation of Real Estate (Hunger), this is a very good signal” and “a reality on the ground taken into account”, even if the increase in the debt ratio to 35% could have been placed a little higher, according to him. “We were fighting to get accommodations, arrangements are made, so we can only be satisfied”.

The increase in the authorized debt ratio will make it possible to lend “to people who were excluded from financing and who nevertheless deserved financing because they were very solvent”, he added.

Le durcissement de 2019 avait marqué un tournant pour les autorités financières, who had until then displayed their serenity in the face of a booming French housing market, and provoked the grumbling of many actors.

A few days ago, plusieurs acteurs du secteur avaient déploré une “significant increase in rejection rates” de crédit, which they attributed to “HCSF recommendations” judged “excessive”.

Why waste your precious time going around banking establishments the duration of the conditions precedent pass very quickly.

I suggest that you be your single point of contact and work for you with my various banking partners to find your personalized solution adapted to your financing project.

Call on your Real Estate Credit Expert to support you towards the success of your project, a well-prepared file sent to the right banking partner can change everything !!!

Call me at 06 31 48 62 13 or by mail gilles.goue@courtiprets.fr, to discuss your project.

A loan commits you and must be repaid. Check your repayment capacity before you commit.

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