The last fifteen news
17/06 : Imminent rate increase
29/02 : The granting of mortgage loans did...
25/02 : The prices of the prestigious...
22/02 : Brokers have different working...
22/02 : The foreigners blow up the prices...
21/02 : There is no crisis in real estate...
19/02 : Prices are increasing again in...
19/02 : Publication of the new reference...
18/02 : Val-d' Isere: Price of real...
18/02 : The lands register of France...
14/02 : It is easier to borrow now it was...
12/02 : Discounted rate, seek advice to...
11/02 : INTEREST-ONLY mortgages: does it...
07/02 : Banks apply criteria of credit...
07/02 : French property market remains...
More news...
To a study of the major mortgage broker in France, banks apply criteria of credit more strictly since last summer: «many files which would have been accepted without difficulty some months ago are refused today ". On about 8 000 files introduced each month through agency and internet, the rate of refusal went up from 3 % to 8 % for some months while it was still very marginal in the previous years. The broker adds that «facing the general implementation of banking policies, this rate will continue advancing in the next months ". He notices that banks respect rather strictly the rule of the rate of debt in 33 % without possibility of overtaking, even if the rest to be spent would be raised enough. The loans of a length of 30 years without personal contribution are refused and the personal contributions of less than 10 % are most often moved aside. Finally, banks analyze in a strict manner the professional seniority, the permanence of incomes, the loans already in the course of refund and the general functioning of the bank account of the candidate for the loan.
Veronique Kouznetsov | Date Published : 2008-02-07 16:37:17
