Real Estate: “I have five times the amount of my purchase in my accounts and my loan has been rejected by my bank”

Anna is disappointed. “I wanted to buy a small house in the country for €100,000 to live in, explains the 67-year-old pensioner who lives in Bourges (Cher). Despite a significant personal contribution, I was refused the loan because of this famous wear and tear rate, which the banks told me was currently too low. But my income allows me to repay this loan correctly. »


To his surprise, Éric, a 56-year-old commercial from Clermont, also had his loan request rejected. “I have five times the amount of my property purchase in my accounts, I have a more than comfortable salary and have worked for the same company for twenty-one years. I don’t understand it. »

45% of files rejected

Anna and Eric are among the many “victims” of the too low level of the attrition rate (Editor’s note, the maximum interest rate at which a bank can lend, known as the APR, which includes the nominal interest rate, insurance, mandatory guarantees and any administrative charges, i.e.). According to an Opinion System survey conducted among brokers calling to demonstrate on September 20 in front of the Banque de France, 45% of mortgage applications would be rejected for this reason. While all interest rates are rising as part of monetary policy to fight inflation, the usurious rate, set every three months by the Banque de France, seems disconnected from the rest of the market, according to real estate professionals.

Reform wear rate

“The first to be excluded were the young people with the smallest contribution; afterwards we had the seniors, because of the insurance, explains Maël Bernier, spokesman for the broker Meilleurtaux. Now I have blocked files for people aged 45 with 300,000 euros in contributions and who earn 12,000 euros a month. They can’t borrow because at 1.85% interest you add the insurance plus the guarantee that goes into the APR and you exceed the wear and tear. According to Maël Bernier, it is urgent to reform the rate of wear. “The last time we had rates of 2%, we had an attrition rate of 4.20%.”

Revision on 1 October

Meanwhile, Anna resigns herself to “having to rent, which in the end will cost me more and completely lost. “Other solution? Wait for the attrition rate review. Set at 2.57% since July 1 for fixed-rate loans of 20 years and over, the attrition rate will be updated on Oct. 1. Bercy on Thursday promised a “fairly significant” upward adjustment.

Credit professionals fear a blocked real estate market

Nicolas Faucon


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