It is the new pet peeve of bankers and brokers.
Previously, it was the debt ratio that always blocked mortgage applications.
Today, it is the usury rate, this maximum rate beyond which the banks cannot grant a loan, which is in question.
More than a third (35.86% exactly) of the files would be refused because of this rate of wear, according to an Opinion System survey.
Currently, this rate stands at 2.57%.
Updated every three months, it must be updated on October 1st.
Some among the mortgage experts hope that it will be raised to at least 2.8% or even 3%.
Why ?
To give some breathing space to borrowers caught in the throat by soaring credit rates.
In eight months, these have almost doubled.
Over 20 years, you could borrow less than 1% at the beginning of the year.
Today, the rates are around 2%.
Add the costs (file, guarantee) and especially the borrower's insurance and you can quickly exceed the rate...
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