According to the banks and brokers, more and more families can no longer get real estate loans due to the often prescribed rate of usury. Will the calculation method be revised from July 1, as La Tribune noted on Wednesday? The economy minister notes that it won’t be the case, but MoneyVox is expected to announce the topic by the end of the week.
Will the banks and brokers win? According to information released on Wednesday by exhibitionThe Minister of Economy and the Bank of France have given the green light to put in place a new method for calculating the rate of erosion from July 1.
fate Protecting individuals from excessively high borrowing termsThe wear rate is determined every quarter by the Banque de France. In concrete terms, no bank, including all costs (loan insurance, brokerage, administrative fees, etc.), can lend at a rate higher than this limit calculated on the basis of the average rates granted during the previous three months, at 33%. However, mortgage rates have risen sharply for six months.
The attrition rate is calculated from loans granted in the first quarter of 2022. Result, More and more borrowers are denied credit Because potential proposals from banks go beyond this legal scope.
Mortgage Loan: Who Benefits from Changing the Erosion Rate Calculation Method?
Exclude up to 15% of borrowers
According to several mediators recently interviewed by Agence France-Presse, the difference between them 10% and 15% of files Who can no longer get a loan, only to review their project. In this context, mortgage credit professionals have been campaigning for several months to reform the method for calculating the rate of wear. They double the proposals in this direction: to recalculate the rate of wear every month instead of every quarter, and leave the calculation to the insurance borrower… Tracks do not exist.
Save up to 70% On your borrower’s insurance
In response to a question from MoneyVox, the Office of the Minister of Economy specifies that the erosion rate calculation will not be adjusted from July 1st. This is a mistakeCheck out Bruno Le Maire’s entourage. However, the Bank of France, the French Banking Union and consumer associations are currently working on this topic. Percy points out that a call on the issue of wear rate should definitely be made before the end of the week. Follow…
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