While the resumption of examination of the 2025 Finance bill is imminent, it is essential to put forward proposals at no cost to the State, but likely to significantly improve the purchasing power of households: portability and the transferability of real estate loans. Two little-known solutions, but crucial to facilitate access to property.
Banks, which benefited from massive state support during the 2008 financial crisis, must today demonstrate social responsibility. Let us remember that in the midst of the subprime debacle, the French State had put in place a plan of 340 billion euros to support banking establishments, including 20 billion euros for their recapitalization in the form of loans and 320 billion euros of guarantees on interbank loans.
Ask for effort in return
This unconditional support allowed banks to weather the storm. Today, while they are posting comfortable financial results, it is legitimate to ask them for an effort in return. However, banks are reluctant to implement widespread loan portability and transferability. These devices, which would allow borrowers to maintain the advantageous conditions of their credit in the event of moving or purchasing a new property, remain options, reserved for a few insiders. This situation is unfair and deserves to be corrected.
The portability of real estate loans, defended by the FNAIM, consists of allowing borrowers to maintain the conditions of their initial credit (interest rate, duration, etc.) when they purchase a new property. Some banks already grant this privilege, but only to a carefully selected clientele. Why not make it a mandatory measure, as was done for the renegotiation of loans in credit contracts?
In May 2024, MP Damien Adam tabled a bill aimed at generalizing this practice. The objective was clear: to help owners change housing without suffering the impact of rising interest rates. Unfortunately, the dissolution of the National Assembly in June 2024 interrupted the examination of this promising text. It is imperative that a parliamentarian takes up this torch. Because it is not just a technical question: it is an issue of purchasing power and residential mobility for millions of French people.
Another mechanism associated with it also deserves to be brought up to date. During a real estate transaction, transferability allows a buyer to take back from the seller the remaining part of the current real estate loan subject to acceptance by the bank, while maintaining the initial conditions of the credit, in particular the interest rate. This clause previously existed in Crédit Foncier de France (CFF) contracts, particularly for PAP loans – loans for home ownership – or approved loans. It was used until the end of the 1980s, before gradually disappearing. However, in a context of rapid rise in rates, this option could be of great use to borrowers.
Provide financial stability
Today, this practice depends entirely on the goodwill of the banks. It remains marginal, even though it could provide financial stability and facilitate real estate transitions. Its generalization through a mandatory clause in loan contracts would constitute a major step forward, without degrading public finances.
Banks have a role to play in cushioning the effects of the economic situation on households. The portability and transferability of real estate loans are not revolutionary measures, but pragmatic and already proven tools which would benefit from being democratized. Their implementation does not require public subsidies, simply political will and an appropriate legislative framework.
Past crises have taught us that solidarity between the state, banks and citizens is essential to maintain economic and social stability. The mouthfuls swallowed may no longer have any taste, but they remain no less nourishing. It is time for banks, now in a position of strength, to show recognition and responsibility.
Whether through the reintroduction of Damien Adam’s bill or through other parliamentary initiatives, the FNAIM hopes that a member of parliament will commit to making these measures a reality. The portability and transferability of real estate loans must become rights, and not privileges reserved for a few.