Mortgage credit: our three solutions for staying obsolete in 2022 - Magnolia.fr

Mortgage credit: our three solutions for staying obsolete in 2022 – Magnolia.fr

Rather than protecting families, usury rates in this year 2022 prevent them from borrowing to buy their homes. While waiting for the public authorities to react and start fixing usury, here are 3 unstoppable tips to avoid being penalized, and finally fulfill your dream of home ownership.

Why usury hinders the real estate market?

Before discussing winning solutions for building your financing profile, let’s remember why Legal maximum rates Which banks can no longer lend Real estate market bottlenecks.

The wear rates are calculated every three months by the Banque de France based on Average APRs granted by credit institutions in the previous quarter, and by a third. For loans of 20 years or more, the amortization rate is set 2.57% in the third quarter of 2022.

With average nominal rates around 1.80% over 20 years At the end of July, there is still one Very low margin to incorporate all other costs Related to getting the loan in April Application fees, collateral (mortgage, bank guarantee) and borrower insurance. to me risk profiles For those who pay dearly to secure their home loans, the equation is more complicated.

Access to mortgage credit has become a mirage for homesAnd not just dangerous profiles. Once the bank presents a overall rate above 2%which appears to be a widespread practice in this summer period, TAEG exceeds the wear bar and Credit denied. It is not rising interest rates that is holding the market back, but the stagnant level of Corrosion rate 2022whose calculation, contrary to the current rates, has become improper Outdated.

According to brokers, roughly one in two applications is currently being rejected, compared to 20% in May, which was already a sign of a A severe crisis in mortgage lending. France has Lowest corrosion rates in the worldDare we say, the most stupid thing in the world, when thousands of families can’t borrow when they can completely solvent and they debt ratio Much less than 35% regulatory.

In severe weather, the sail must be reduced, because The European Central Bank will raise interest rates in July 2022 It will increase borrowing rates by tightening monetary policy. While waiting for Percy, who is denying anything at the moment wear problembegins to fix legal rates, here are 3 solutions to lower the annual interest rate and Stay below wear and tear.

Solution 1: Delegate the insurance to the borrower

We can never repeat it enough, the External insurance Suggested by alternatives Two to four times cheaper What the Bank Group offers. Tailor-made, it matches each person’s profile, allowing Adjusted Pricingin the vast majority of cases, to a large extent more competitive.

The Lagarde’s law feet Borrower Insurance Authorization In 2010, an opportunity to refuse bank insurance in favor of a cheaper offer with at least equivalent guarantees. Claim your rights and get insurance that matches your profile at the best price thanks to A Home loan insurance comparison. At an equivalent level of collateral, you can before the bank accepts an authorized contract Save thousands of dollars.

The numbers speak for themselves. He is thirty years old, healthy and borrows €200,000 over 20 years at a nominal rate of 1.85%, insurance is provided by his bank at a rate of 0.36%, i.e. an insurance cost of €14,400 over the total term of the loan. By comparing alternative offers, the insurance rate drops to 0.12%that is, at a cost of 4800 euros. Earning: 9600 euros!

In this example, the bank insurance does not allow the APR to stay under wear (2.62%), assuming the guarantee costs come to €2,100. With mandated insurance, the APR drops to 2.20%.

Some brokers suggest removing the borrower’s insurance from the APR, allowing this stay under wear The time its level is rising significantly, but the regulations do not allow this practice at the moment.

Solution 2: Enhance your personal contribution

L ‘personal contribution It became a banking requirement, while it was still common to borrow without contribution in 2019. With Give the rules imposed by the financial authorities (the maximum debt ratio is 35% and the borrowing period is limited to 25 years), together with the volatile monetary context, we note Record level of personal contribution in the first half of 2022. Currently it is around 20% of the transaction amount (excluding notary fees), the higher it is, the less you will have to take credit, besides reassuring the lender about the good management of your money.

crowd Maximum personal contribution ! It’s easy to say when you’ve already broken piggy bank and savings accounts. Especially since the banks ask the borrower to keep the Remaining savings At least 5 or 6 months of monthly payments. If you are an employee, Unlock your employees’ savings. Purchasing the principal residence is one reason that allows early release of payments made in PEE, Perco, or PER.

Another tip to increase your personal income: Call the family. Parents can work cash donation For each of their adult children Up to 31,865 EUR Without gift tax payment, every 15 years. They can also lend a sum of money for Complete the budget, without interest or with minimal interest. If the amount exceeds 1500 euros, you must formalize family loan With an acknowledgment of the debt or a loan contract signed by a special signature or a notarized deed.

Solution 3: Borrow at a variable rate

The last option for facing corrosion, can be combined with the other two options, which is adjustable rate credit. This seems counter-intuitive in a period when fixed prices are still attractive. While they have disappeared thanks fixed floor rates Over the past three years, variable rate mortgages have re-emerged in a context of great strength inflation and increasing borrowing rates.

Banks Show Variable rates capped “1”, that is, the initial price cannot increase by more than 100 basis points. Hence the maximum rate over the credit period is known. This allows to get a file 1.20% credit over 20 yearswhich shall not exceed 2.20%. At a rate of 1.20% bounded by A 2.45% corrosionit presents a More comfortable margin to add other credit costs From a flat rate of 2% and usury 2.57%.

Be a good companion! more than everintermediary benefit The expert is justified in compiling financing files and negotiating with banks to allow you to obtain your mortgage.

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