Real estate loan: requirements to meet your bank’s re-examination of your file

Is this the end of the mortgage market crisis? Although the rates have finally started to fall, the public authorities have also decided to act. The Supreme Council for Financial Stability (HCSF) put a little more pressure on the banks by announcing in December creating a renegotiation system for borrowers. The latter, if they have suffered a credit rejection that they consider unjustified, now have the right to ask the bank to review their file. On February 1, the details of this system were announced by the French Banking Federation (FBF), the professional organization in which the main French banks are located: Crédit Agricole, Banque Populaire et Caisse d’Epargne (BPCE), Crédit Mutuel. , Société Générale. , BNP Paribas and Postal Bank.

“In the sensitive context of real estate that our country is experiencing for multiple reasons, the banking profession proposes to better understand the possible real estate loans that are not given to clients, with a temporary system to review these requests”, explained the FBF in a press release. In each of these establishments, it will be possible to re-examine the files “during february”defines the profession, and will apply until the end of 2024. A transitory measure, therefore, aimed at easing relations between banks and potential borrowers.

Debt, a condition to respect

To be able to benefit from this system, candidates for the purchase of real estate must meet certain conditions; Provided by HCSF. The procedure will therefore only be open to solvent households, that is, the rate of effort – the part of the net tax income dedicated to repaying the monthly payment – does not exceed 35%. “We are not planning universal credit because that would be the best way to get too many households into debt”, the HCSF already warned in December. Therefore, households registered in the payment incidence files managed by the Bank of France (FICP, FCC) are not eligible for this procedure. In order to re-examine the file, the candidates must also establish an initial one“File Filler” which will bring “full instructions” from their bank.

If the measure seemed reasonable a few months ago, when rates were at their peak with no hope of a fall, in February the context seems less appropriate. Average real estate loan rates It can go from 4.24% to 3.25% By the end of 2024. The European Central Bank (ECB) is encouraging banks to emphasize future key rate cuts, and therefore to offer the best lending conditions in order to attract as many customers as possible. In other words, the supply of credit has strengthened a lot in recent months.

Nicolas Namias, president of the FBF, believes that the good news is that the banks’ initiative does not become obsolete: “The adjustment of housing prices remains moderate and the real estate market is slowing down (…) The goal is for customers to understand the reasons for their bank’s decision and, if the conditions are met, to benefit from reconsidering their examination. credit file”. When contacted by Capital, the Bank de France responded, reminding that banks have “Any interest in further convincing the French of their willingness to lend.” And so to give a second chance.

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