The Ministry of Finance is studying the possibility of relaxing credit conditions to encourage the relaunch of acquisitions in real estate, said Sunday the president of the Law Committee of the National Assembly Sacha Houlié (Renaissance).
Bruno Le Maire, who spoke about it to Mr. Houli, said he was studying this hypothesis, according to the deputy for Vienne, interview on France info. Asked by AFP, Bercy did not respond on Sunday. The minister, as president of the High Council for Financial Stability, was informed of a request to this effect by several presidents of committees of the Assembly, including Mr. Houli, as well as by the general budget rapporteur Jean-Ren Cazenave.
There are multiple cases in which households, whose income could justify borrowing to acquire a main residence or invest in rental property, are deprived of access to real estate credit. This reluctance can only be explained by the strict and prudential application of the rules dictated by the High Council, they deplore in their letter obtained by AFP.
Loosen some conditions
A loosening of credit conditions would make it possible to unlock many individual situations and to give a welcome new lease of life to housing construction or renovations, they judge.
For Mr. Houli, the possible avenues would be to loosen some conditions, either the (maximum debt) rate of 35%, or the exemptions which are opendeclared Mr. Houli.
The debt ratio of borrowers, including the cost of credit insurance, is currently limited to 35% of their income, although with exemptions for first-time buyers.
Real estate credit: will the rules that hold back borrowers be removed?
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