Mortgage credit: the crush on banks for couples.

Almost 70%! This is the percentage of borrowers who make a couple real estate purchase. A high proportion which clearly indicates that banks more easily finance two-person acquisition projects, without necessarily having gone before the mayor or the priest beforehand. In fact, only half of them are married. In this context of rising prices, it is indeed easier to borrow for two … It must be said that for banks, these profiles are also more attractive because they are considered less risky and more profitable. With a higher strike force, couples benefit from more advantageous conditions and sometimes less demanding eligibility criteria, testifies financer.

Nearly 7 out of 10 buyers are in a couple!

Nearly 7 out of 10 buyers are in a couple!

With financer, 68% of borrowers are in a relationship … but this figure rises to 70% among 40-49 year olds and even 73% among 30-39 year olds. Even those under 30 are 57% to buy as a couple.

“Buying a property is often a two-person act, as part of building a couple’s life, but also, for financial reasons. At two, the incomes are higher, which allows the couple to have a greater borrowing capacity and therefore to access the property more easily, when a single salary is not always enough … “explains Jerome Robin, founding president of financer.

64% single borrowers earn less than $ 2,000 net per month, while 80% of couples have monthly net income greater than $ 2,000 … “On the other hand, buying as a couple does not necessarily mean being married … There are even today as many couples who buy without being married as having formalized their union, which was of course not the case with the generation of our parents and grandparents… ”he adds. .

Married, cohabiting or civil partnership

Married, cohabiting or civil partnership

In fact, half of the couples buy without having gone through the stage of marriage: 35% of the borrowers are married whereas they are 33% to buy without being: 22% are in cohabitation but only 11% are married. For many couples, the act of buying two is more engaging than marriage.

In addition, 51% of borrowers have no children when buying… Real estate purchases often take place before the construction of a family for first-time buyers, but it is also the time to buy larger for those who are already homeowners because 42% of borrowers have 1 or two children.

Passionately, madly… not at all

Passionately, madly… not at all

Only 8% of borrowers buy while divorced or separated … While following a separation, it is always necessary to relocate, unfortunately it is often not possible to buy again. It must be said that this transition period often characterized by economic fragility does nothing to reassure banks. Rental is often preferred at first, while waiting to find a balance and rebuild on a personal and financial level.

Singles: double punishment

Passionately, madly… not at all

No doubt couples remain privileged by banks … In the current economic context, it is now easier to borrow as a couple than alone. This is what emerges from the study of the banks’ eligibility criteria. First of all, the income requested from a single person is often proportionately higher than that required from a couple. In a bank for example, a single person must have a minimum annual net tax income of $ 20,000 to obtain credit, compared to $ 35,000 for a couple. In another, to benefit from the lowest rates, incomes must exceed $ 35,000 for a borrower but “only” $ 50,000 for a couple, or in a third establishment, they must reach $ 60,000 for a single person but 80 $ 000 for a couple… Another national bank does not even take into account the marital status of the borrower: to benefit from the lowest rates, income must reach more than $ 90,000, whether borrowed alone or in pairs .

Stay-to-live demanded proportionally lower than two

Stay-to-live demanded proportionally lower than two

It is the same for the “remainder-to-live” (the share of the income that remains in the household to finance current expenses once the loan charges have been paid and deducted from the taxes for certain banks) which is proportionally more low for a couple… It is a determining criterion for banks, almost as much as the debt ratio… In one of them, it must be at least 700 $ for a single person but 800 $ for a couple. In another bank, the rest-to-live must be at least $ 750 for a single person but $ 1200 for a couple (and $ 250 per dependent child). A third request 670 $ for a single person, and 1000 $ for a couple.

Unity is strength

Unity is strength

“Couples are prime customers for banks. When they buy together, they often have more contributions, but above all higher incomes which will give rise to a double domiciliation of wages, with the opening of two bank accounts – even 3, if there is an account. joint – and the subscription of livret A, PEL or life insurance in future years, at the birth of future children … In addition, some banks recommend couples to take out loan insurance at 100% on each head, which can double the amount of the monthly premium. Finally, when there are two borrowers, the risk of job loss in particular and non-repayment of the credit does not rest only on one person, which further secures the project in the eyes of the banks… ”, explains Sandrine Allonier, responsible for bank relations at financer.

Couples, undoubtedly “bank darlings”

Couples, undoubtedly "bank darlings"

This is why couples often benefit from the best rates… In the financer barometer of “Bank favorites” published at the beginning of February 12 profiles out of the 14 who obtained the lowest rates are couples, because their income more easily exceeds 5000 $ two, or even $ 8,000 two. In Nantes for example, a couple of first-time buyers of 35 and 37 years old obtained in January for a loan of 400,000 $ a rate of 1.20% over 20 years (to compare with the average rate over 20 years: 1, 60%) with $ 8,000 in income for two and $ 40,000 in contributions.

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