This was a brokers request.. Of 1Ahem In October, usury rates, that is, the maximum legal rate that credit institutions are authorized to charge when they grant a loan, will increase significantly.
On September 20, the Banque de France, which recalculates the rate every quarter, announced that
therefore, it will normally be raised by 1Ahem October, in a more proportionate and marked way than last June in agreement with the Ministry of Economy and Finance.
This increase was demanded by the brokers. On September 20, a hundred of them demonstrated in front of the Banque de France. With interest rates currently rising faster than usury rates, the number of loan applications denied by banks would have skyrocketed. Ultimately, the sector fears a fall in the real estate market.
“Resolve certain situations”
Whether it’s low-income households or top executives, everyone is in the crosshairs of the pace of attrition and this lockdown that banks are doing right now. explains to The express Ilan Rainier, associate director of Vousfinanciar.
From 1Ahem In July, the usury rate for a fixed-rate loan with a term of twenty years or more is set at 2.57%. Its exact increase has not been communicated but it should allow, according to the Banque de France,
to resolve certain more difficult situations of access to credit identified in recent weeks.
At the same time, this increase will have consequences for borrowers who have contracted a variable rate loan. Those who opted for a fixed rate, the vast majority, will be saved.