A new rule in the granting of real estate credits has been established by banks in recent months and few know it. However, this has consequences on borrowing demand.
He was speechless. For several months, Maxime has been looking to become an owner by buying his first apartment. After several visits, he finds his happiness: a two 35m² rooms in Malakoff, commune of the Petite Couronne Parisienne, south of the capital. After years of rental, this 30 -year -old finally affects the goal: to be at home for good. A Christmas present to itself, having received the verbal agreement at the end of December.
But what was his surprise, a few days later, when his advisor called him. After studying its file by the regional headquarters, the bank no longer wants to follow it under the conditions initially set. The fault has a novelty of which the banker had never told him in the previous exchanges.
For Maxime, like the vast majority of buyers, becoming an owner is not a trivial investment. A credit at 200,000 euros over 25 years, 40,000 euros in contribution … The commitment is substantial. “For more than a month, the advisor told me that it was going to do it,” recalls this employee on a permanent contract, who buys alone. Until this famous phone call.
“I noted a small problem. Your DPE is in F. When the DPEs are lower than E, we only finance 70% of the credit,” said the advisor coldly. Maxime breaks down. On the phone, the banker presents only one solution for his file to pass: double his contribution. Using his relatives, the future owner could have found funds. He chooses another option.
“I brought in a diagnostician. He gave me a projected DPE, with a simulation of the work to do to go into E,” he says. Assessment: a hot water tank and two radiators to change. He continues: “I had a quote from a company. There were 1700 euros. I presented this plan to the bank, added the € 1,700 in a contribution and it went.” A relief after a few cold sweats that he would have spared himself well. It was still necessary to be informed.
“It has been six months since the banks do this, it dates before summer,” confirms Maël Bernier, spokesperson for Bestaux, recognizing between the lines the lack of communication on the subject. “It is known by those who are concerned,” she smiles.
Banks have set up this new rule “to cover themselves”. They believe that with a DPE F or G, and without work carried out, the resale discount will be such that the money of the sale could not allow to reimburse a credit which finances 100% of the property. “The bank is covered and covers the seller saying: ‘We lend 70/80% of the value of the property, at least, if you only sell that price, you will enter the nails of the credit,” explains the expert.
There is no rule common to all banks on this subject, but all of them finance credits less when the DPE is lower than E. A rule to know now. If the DPE can lower the purchase price, it is therefore not without impact on your credit.
In this situation, Maxime’s reaction was the right one: “To make the work esteem is what to do,” said Maël Bernier. An adventure that “still allowed me to negotiate the case costs”, has the future owner, who now only expects to recover his keys.