Almost one in two mortgage applications (45%) has been rejected since January 1, 2022, according to a survey conducted on behalf of Afib (French association of bancassurance intermediaries), reports France Info. In question, the rate of Wear, that is, the maximum legal interest rate that credit institutions are authorized to charge. It has been set from July 1, 2022 at 2.57% for loans of 20 years and more. Banks are prohibited from lending above this rate, effectively excluding many households from home loans. The mechanism is supposed to protect the consumer, “but the problem is that this tariff does not rise fast enough compared to the increase in tariffs”, explains Jérôme Cusanno, president of the association. According to the survey, more than half of these mortgage denials affect people between the ages of 30 and 55 (51%).
Source: BFM TV
