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INFOGRAPHY – Banks offer exceptionally low borrowing rates to the most profitable clients for them, namely first-time buyers in their thirties and high earners. Even without contribution, some can get a favorable rate.
With their slow but steady decline, mortgage rates are approaching their lows end of 2016. For the best profiles, it's already done. Who is it? First-time buyers under 35 years of age with high income levels – more than 6000 euros per month for two – buying a principal residence. This profile allowed three couples living in Château-Gontier (Mayenne), Bordeaux and Nantes to obtain rates of 0.8%, 0.9% and 1.09% over 20 years (excluding insurance), depending on
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Figures well below the average rate granted by banks, which is close to 1.5%. "Banks are looking for young borrowers with increasing revenues because capturing this type of profile allows them both to rejuvenate their customers and make the credits they grant at very low rates profitable," explains Sandrine Allonier, from Vousfinancer. . The vast majority of the best profiles justify very high monthly incomes, as you can see in the table below.
For most of them, the financial contribution is also important but some borrowers have managed to obtain rates well below average even without input. The banks thus finance the entire purchase price of the housing. They can even cover part of the costs (of notary or the deposit of lodging) – this is what the specialists call a operation of "overfinancing". "With regard to the contribution, the banks have been more flexible since the beginning of the year. This is no longer a determining factor. High incomes may be enough because they allow banks to capture resources but also to consider the subscription of savings products and investments in the short or medium term, "said Sandrine Allonier. But if your monthly income is less than 4000 euros per month if you are single or 6000 euros if you are in a couple, a contribution of at least 10% of the total cost of the operation remains an badet to obtain a favorable rate. 19659003] »READ ALSO – Has your real estate purchasing power increased in the last six months?
With such record rates, borrowers can expect to realize savings far from negligible. Thus, the cost of a mortgage of 200,000 euros over 20 years has been divided by five in six years, from about 91,000 euros to just under 21,000 euros, or 10% of the loan amount (against 45% in 2012), according to Youfinancer. Borrowing 200,000 euros over 20 years costs an average of 1037 euros per year, against 4543 euros per year.
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