Bruno Le Maire will meet on Friday with the Governor of the Banque de France Franois Villeroy de Galhau to consider adjustments to the rate of wear and a relaxation of the rules governing real estate loans, said the Minister of the Economy on Thursday .
Asked on TV5 Monde about the growing difficulties of access to mortgages for households faced with rising interest rates, the minister replied that the subject would be on the menu of an interview with Franois Villeroy de Galhau. We will discuss it, said Bruno Le Maire about a possible relaxation of the rules surrounding this market.
Drugs review?
Banks can now derogate from the rules according to which they can only lend if the cost ratio, i.e. the total amount of housing-related expenses in relation to income, does not exceed 35%, and for a maximum of 25 years (or 27 years in the event of work prior to moving in).
They can do so for 20% of the credits, provided that these derogations mainly relate to the acquisition of a principal residence and aim in a third of cases to support first-time buyers.
Can we consider relaxations within this 20%?, wondered Bruno Le Maire about these rules in force since January 1, 2022.
This maximum threshold intended to protect borrowers is accused by its detractors of preventing banks from lending during periods of rising rates, because of its restrictive criteria.
The rate of wear under discussion
A second subject of discussion between the two men will relate to the rate of usury, a maximum rate intended to protect the borrowers but there also accused of preventing the banks from lending, continued the French minister.
This rate of wear has been relaxed, henceforth recalculated every month instead of once a quarter. But Bruno Le Maire said that the authorities would study the possibility of extending this system, supposed to end in July.
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