How do you keep your borrowing rate at 1%? We explain the FNAIM loan transfer proposal

The National Association of Real Estate (FNAIM) is to present its proposals to Olivier Klein, the delegate of the Minister of Urban Affairs and Housing, and among them the transfer of loans, this Tuesday, December 6.

An advantageous system for people who have taken out a loan but do not win all the votes, especially with banks.

What does it consist of?

If you have taken out a home loan and you sell your property, you can keep your loan with the original debtor interest if you want to invest in a new property.

A great advantage at a time when interest rates have risen sharply with the period of inflation we are experiencing. In fact, rates rose from once 1% to 2.25% on average in November 2022. And the number of loans requested and granted has dropped considerably.

Concrete example

If you bought your home with a 1% interest rate over 20 years, have 10 years left to pay and you want to sell it, mortgage portability allows you to keep the same 1% interest rate to make your new purchase .

Portability can also be attached to the property

In the event that you decide not to repurchase property after the sale of the one you had a loan on, you can make the buyers of your property benefit. Thanks to the portability of the loan, the rate charged to you will be the same for your buyers, who will also be able to benefit from a 1% interest rate for the loan made within the scope of this sale.

Please note that certain conditions must be foreseen and defined between the bank and the two parties making the sale.

What is the goal?

With old loans now less advantageous than new ones, banks are not won over to the idea of ‚Äč‚Äčadopting loan portability because they would necessarily lose a little. This transfer system is already included in contracts, provided that a prior request is made to the lending organization.

By opening up a little more the portability of loans, it is a way for the state to revitalize transactions, while the number of loans fell by more than a third in October 2022 compared to the year 2021. A system that could appeal to government, which had already presented itself as favorable and attentive to making mortgage loans more accessible to households.

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