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Money Real Estate Credit: Why Banks will be more selective

17:05  17 september  2021
17:05  17 september  2021 Source:   challenges.fr

A Vannes, the very intrusive methods of real estate agents

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immobilier © Nattanan23 / Pixabay Real Estate Conditions for a real estate loan have been reaffirmed by HCSF. Banks will have to be more vigilant, despite interest rates on the floor.

The health crisis? Unlike the construction of new housing , the real estate market in the old one has cure. According to the data of the Senior Council of the Notariat, the annual volume of sales of old housing continued its growth in the second quarter 2021 to up to 1.1 million sales, after 1.08 million to the end of March: "it is. A new higher historic with the number of transactions as well as the third consecutive quarter of rise, after the decline observed between the end of 2019 and the third quarter 2020, "said David Ambrosiano, President of the Supreme Council of Notaries (CSN). The market is progressing in particular in the average cities became very attractive ". over one year, rising prices reached + 5.9%. Since the fourth quarter 2020, the rise is more pronounced for homes (+ 6.9% in one year in the second quarter 2021) than for apartments (+ 4.6%). "It had not happened since the end of 2016," says C SN .

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Interest rates on the floor

The French want to move and are supported in their desire for homeownership by floor credit rates. According to the Observatory Credit Housing / CSA, the average interest rate, excluding insurance and all borrowing periods, has dropped to 1.05% in August. The start of the school year is also favorable to the borrowers: "In September, some banking institutions have once again declined their rates, up to 0.2 points and propose rates at 0.7% over 20 years, before negotiations!" Notes Sandrine Allonier, Director of Broker Studies.


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It is still necessary to obtain its financing: for several months, the banks have tightened their conditions for granting real estate loans. Invoyer, the recommendations of the High Financial Stability Board (HCSF) that whistled the end of easy credit. Since the beginning of the year, it has been advocating banks to no longer lend more than 25 years (with two years of additional deferred for purchases in the new) and not exceed 35% of debt (borrower insurance included. ) Only 20% of the overall credit production can derogate from these rules, 80% for the acquisition of a principal residence.

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more stringent obtaining conditions

If some institutions have turned a deaf ear in the first half, the banks are still globally returned in rank: in its last assessment The HCSF notes that derogatory production was 20.9% in the first half of 28.8% in the first quarter at 23.7% in the second quarter. For the end of the year, banks should no longer make any deviation, especially as the HCSF provides, via the ACPR ( Prudential and Resolution Authority) , of the sanctions from the next year. They will therefore continue to require borrowers a more important personal contribution to be able to complete their acquisition, up to 10% excluding costs, including the transfer duties collected by the notaries, about 18% of the amount of The acquisition. This situation should promote those who are already proprietary, but penalize those who want to embark on a rental investment. Households will therefore have to draw on the savings accumulated during the crisis ( 157 billion euros at the end of June according to the Bank of France ) to continue to buy real estate.

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