More flexible borrowing rules
New conditions for granting home loans have been announced by the Haut Conseil de Stabilité Financière (HCSF), a body chaired by French Finance Minister Bruno Le Maire. The maximum loan period has been extended to 27 years for the purchase of an old property, provided that the works represent 10% of the total cost of the transaction (compared with 25% previously). Another measure: when calculating the debt-to-income ratio of households, banks can now exclude interest on bridging loans, provided it does not exceed 80% of the value of the property put up for sale. In addition, creditworthy borrowers whose home loan has been refused will be able to ask for their application to be reconsidered at the beginning of 2024.
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