The record est atteint ! 1 059 000, tel est le number of transactions carried out over the last twelve months, starting at the end of September, on the market of old real estate in France.
Compared to last year, this is a hundred of thousands of transactions in addition which amounts to an increase of approximately 10.4%. The majority of French people currently consider that real estate remains one safe investment et un élément de guarantee for the future, especially in the face of unfavorable conditions after retirement. However, the rate of credit favorably in drop remain there source of this dynamism.
According to the observatory Housing credit/CSA, around the month of November, the interest rate means real estate loans reached a new record with 1.12% Out of Warranty with any credit duration. According to experts from the Superior Council of Notaries, these interesting loans give the possibility to buyers to join has the elevation of the prices. The improvement of the costs annual real estate will reach 5% by the end of the year, according to established projections. Like the brokers in credit wish to appropriate a significant part of the pie, they boost greatly this real estate dynamics. In the Paris region, Les Meilleurtaux, Empruntis and Capfi produce between 40 and 60% of mortgage loan applications.
Will this prosperous period end?
According to Les Échos, the answer is yes, because the profession remains within the target of bank branches. Many large banking agencies, especially mutualists, begin to doubt their collaboration with the networks of brokerage. According to even one of the famous French brokers, war has been declared.
What prompted this change in strategy?
Crushed by the negative rates, the deviations of the banks seem strongly in drop. They no longer want to pay the 1% commission on each file. However, their shares of local market remain prominent. Crédit Agricole Languedoc has even already put an end to all of its contracts with the brokers. This bank claims not to earn more money on the real estate loans and that with its market shares, it says that sourcing is useless.
Will this choice be followed by others?
For the moment, the brokers think that their presence remains necessary to properly attach the files intended for banks. The easy credit also suffers other threats following the decision of the High Financial Stability Council (HCSF). This public body responsible for monitoring of the stability of all financial system requires banking agencies to conform to good practices established about to grant of the real estate loans to individuals. These concern, among other things, a effort rate to the maximum concession of 33% of the fixed income of debtor and a loan term of less than 25 years. Under certain conditions, only a contribution from loan production not exceeding 15% could exceed these standards. For the moment, the HCSF advice is not regrettable. He covets the preservation of the good practices with a view to to guarantee the resilience of the model of real estate financing in France and securing access to the property. However, this shows the end of the game for the banking agencies which do not properly look at the profile of the debtors. To date, some banks ask the debtor to provide a contribution and the funding additional expenses such as notary fees, the costs of insurance and the costs of case. In total, it is a personal contribution around 10% for the borrower.
