A second wave.
Strongly encouraged by the Banque de France and Bercy, French banks will set up a system for
“reviewing”
refused real estate loan applications, their professional federation announced on Wednesday, in a context of real estate crisis.
“We are putting in place a new temporary support system intended for clients who have experienced difficulties in realizing their real estate projects
,” commented Nicolas Namias, president of the French Banking Federation (FBF), also chairman of the BPCE management board, in a press release. .
“The objective is for them to understand the reasons for their bank's decision and, if the conditions are met, to benefit from a review of their credit file
,” he continued.
This second examination of ungranted real estate loans will be carried out at the request of customers.
It will concern both primary and secondary residence financing and rental investment files.
This system will be implemented by banks gradually during February 2024, and will apply until the end of December 2024, specifies the FBF.
Loan applicants registered in the payment incident files managed by the Banque de France (FICP, FCC) will be excluded.
Read alsoReal estate credit: the average rate exceeded 4.2% in December, according to Housing Credit
Relaunch the real estate loan
“Each banking establishment determines the methods of organizing and informing its customers
,” adds the federation.
The idea of this recourse was launched on November 17 by the governor of the Banque de France François Villeroy de Galhau on the occasion of the annual conference of the Prudential Control and Resolution Authority (ACPR).
The Minister of the Economy Bruno Le Maire followed suit two weeks later, as did the High Financial Stability Council (HCSF) at the beginning of December.
The public authorities are seeking to revive the real estate credit machine, seized up by the brutal increase in key rates from the European Central Bank (ECB), immediately passed on in their scales by banks attentive to their margins.
Many loan applicants have logically preferred to postpone their purchase project, hoping to make up for it a little on a sale price which is still struggling to fall.
The monthly production of new housing loans - excluding renegotiations - is expected at 8.6 billion in December by the Banque de France, a low point since January 2015.