Notaries note an increase in the number of loan refusals in the face of a wear rate considered too low by banking brands.
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When she contacted her advisor to the Caisse d’Epargne Ile-de-France in the heart of August to open a joint account, Cécile was immediately warned. “She said to me:” I hope you don’t want to subscribe to one, we no longer offer until October, because of the wear rate. “” Contacted, the establishment said he is indeed led “to refuse files on a case -by -case basis due to the rate of wear”, but that “no general instructions have been given”. And this reluctance is shared by most banking brands.
So that, in their last economic note, published in July, the notaries of France mentioned “wear rates which slow down access to credit and run a risk of blocking the real estate market”.
Matering the margins
The vocation of the latter is to protect the borrower from too high credit rates. They correspond to the maximum legal rate that banks are authorized to offer to their customers: the cost of the loan, including the borrower insurance and the case costs, must remain below this ceiling. It is the Banque de France which, each quarter, fixes it, from the average rates practiced by the banks and increased by a third party.
Borrowing rates having been, in recent years, historically low, the wear rate is therefore also (2.57 % for credits of more than twenty years, and 2.60 % for those of ‘A duration of ten to twenty years, from the 1 er July), even though mortgage rates go back, in the wake of the OAT levels (state borrowing securities ), at ten years old. For notaries, who “note an increase in the number of loan refusals”, this very slow increase in wear rates “in fact excludes certain households”.
In this context, banks have been reluctant, for a few months, to work with brokers, in order to spare their margins. “They believe that it is not profitable to lend in current conditions and await the next increase in the rate of wear, at 1 er October, explains Sandrine Allonier, the director of studies of Crafts in real estate credits you are. Only a quarter of the banks with which we work agree to lend, they are therefore submerged with files and only select the best profiles. “At this broker, the refusal rate went to 30 % -40 % of the files presented, against 10 % last year.