If the game is likely to get complicated to obtain a credit in 2022, you just have to put the right operations! Sure, the banker will apply the latest HCSF rules, but you surely have the skills to find the right financing solution.
On the question of real estate financing, one should not give in to the intimidation of bankers who wave red flags for certain files. In an overzealous manner, some organizations are using the more draconian regulations of the HCSF (High Council for Financial Stability) as a pretext to regulate credit. On January 1, 2022, the debt ratio will be blocked at 35% and the repayment period will be limited to 25 years. In fact, this new rule of the game applies since January 1st 2021. This equation has already been solved by a large number of borrowers in order to obtain their financing. Discover in turn how to pose the problem to obtain your real estate credit in 2022.
Step 1: Make sure you know what the financing problem is
Always very attractive, credit conditions encourage people to become homeowners. You should take advantage of the rates currently offered, which have just reached record lows. According to the Observatoire Crédit Logement/CSA, the average rate in September was 1.05% for all terms. For a 15-year loan, the value falls to 0.87%. A specialist of the brokerage, Meilleurtaux, even announces a value of 0,78 % on 15 years according to the barometers of its partner banks. Other good news, the logic of inflation and the rise of the bond rates to 10 years were not felt on the cost of the credit. This should not hide possible rate increases, in the order of 10 to 15 basis points, according to several broker networks...
2nd step: evaluate the 25-year repayment period
The repayment period, here is a parameter which comes to change the deal since this one is limited to 25 years. This can be an obstacle for some households that have to repay a monthly payment that is too high. However, there is no need to panic, as banks will be able to accept 20% of applications that are "out of line", although they will try to favour households that are buying for the first time. In addition, a 2-year deferment can be granted for any project in the new or old with work. This brings the total repayment period to 27 years. The first two years are limited to the payment of interest on the loan, while the next 25 years are used to repay the conventional loan.
Step 3: focus on your 33% debt ratio
Another novelty is the effort rate of households which obeys a precise ratio. Indeed, the debt ratio must not exceed 35% of monthly income. Already applied since the beginning of the year, this rule has made access to credit more flexible, since the rate used to reach 33% of indebtedness. However, some profiles will be more affected than others by this measure. This concerns modest households with less than 20,000 € of annual income. Their debt ratio cannot be lowered by extending the duration of the loan, which could previously be up to 30 years. The same applies to investors whose rental income is reduced following the recommendations of the HCSF. They are no longer deducted from the monthly loan payment but added to the income, which means that their debt ratio is reduced.
4th step: check that the account is good!
Of course, the banks will check these new rules but they will also look at other aspects of your file. Starting with the personal contribution which becomes a key criterion to sign a credit. Ideally, it represents on average 15% of the total cost of the project. In addition, the quality of your profile in terms of account management, savings capacity, regularity of income... These are all criteria that will help you close the deal in good conditions. Check the quality of your file with a banker or a broker.
Christophe Raffaillac