They are on average 35 years old, have a contribution of 42,000 euros and take out a loan of 194,000 euros. Who are they? This is the composite portrait of first-time buyers, these individuals purchasing their main residence for the first time, produced by the broker Cafpi in July. Their project concerns a house in 62% of cases.
These young borrowers represent almost half of the production of real estate loans (47.9%, precisely, in June), according to the Banque de France. But today they are hesitant. “The announcement of the dissolution of the National Assembly at the beginning of June sowed confusion in the minds of first-time buyers, who are now waiting to learn more about the new political situation before purchasing”testifies Maël Bernier, spokesperson for Meilleurtaux.
The summer was indeed punctuated with announcements from various political parties: the New Popular Front pleaded for the extension of the zero-interest loan to all first-time buyers, without any means conditions. The National Rally also wanted to extend its scope, while Renaissance wanted to eliminate notary fees for first-time buyers. What will the Barnier government’s path forward be?
While waiting to see things more clearly, the temptation is great for some to postpone their purchase. Because committing to twenty-three years and six months – this is the average duration of credits for first-time buyers, according to the Banque de France – can make you dizzy. “The first real estate purchase is an extremely structuring operation, it is the entry into adulthood. Waiting is not necessarily a good solution »however judges Pierre de Buhren, the general director of Empruntis.
Bonus rate
Beyond political uncertainties, some also prefer to wait for a further reduction in property loan rates. “As long as you are financeable, that is to say you remain below the maximum debt rate of 35%, there is no reason to postpone your project for six months to gain some basic points on credit, believes Pierre de Buhren. Especially since buyers can now negotiate the price of the property. This may not be the case in a few months. »
In addition, banks currently offer specific offers for first-time buyers or for those under 35, in particular mutual groups such as BPCE and Crédit Agricole. “They can obtain an envelope of up to 20,000 euros at a subsidized rate of between 1% and 3%, or borrow over a period of thirty years, or with little down payment”notes Sandrine Allonier, spokesperson for the broker Vousfinancer.
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