Bruno Le Maire pleads for a relaxation of the grant conditions


The Minister of the Economy Bruno Le Maire pleaded for a relaxation of the conditions for granting real estate loans, in an interview with Parisian posted online Saturday evening, two days before a meeting of the High Financial Stability Council (HCSF) scheduled for Monday. “Yes“, it is necessary to further modify the borrowing conditions, indicated the minister. “We will study new measures to further relax the conditions for granting credits“, he said.

I also want us to put in place an amicable procedure, between the borrower and the banker, when the latter refuses a property loan. This procedure should help to understand why the loan was refused and possibly, if the borrower’s situation allows it, lead to a review of the decision.», indicated Bruno Le Maire. Real estate credit is a sensitive subject in the current context of inflation, which complicates access to the real estate market for many households.

The rules for granting real estate loans, in particular their duration and their weight in relation to the income of borrowers, are reviewed every quarter by the High Financial Stability Council, a body chaired by the Minister of the Economy and on which sits the governor of the Bank of France. At the next HSCF meeting on Monday, it will be studied “possible new technical adjustments, provided that they do not lead to an increase in the risk of over-indebtedness», warned on November 17 the governor of the Bank of France François Villeroy de Galhau.

About ten days ago, the governor called on real estate credit players to respect the standards put in place by the HCSF, a message addressed to brokers and banks alike. “It is desirable that the supply of bank credits now gradually resumes, but without risking over-indebted households: pay attention to the suggestions to forget the common sense standards of the HCSF», Said François Villeroy de Galhau in an interview with Republican Lorraine on November 22.

He recently emphasized:the continued and singular progression of household debt“, as well as “the marked drift in loan durations and repayment burden», during the annual conference of the Prudential Control and Resolution Authority (ACPR) in November. Brokers are calling for “break the lock» of the maximum debt rate, at 35% of income.



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