Transfer of mortgage

A question from Mr. BLANC Grégory (Maine-et-Loire – GEST) published on 07/11/2024

Mr. Grégory Blanc asks the Minister of the Economy, Finance and Industry if, as part of the policy support for the residential path of owners, due to the credit crisis that exists in now and how the banks are limiting this, that it could be investigated in the measures that the Prime Minister intended and announced by the Prime Minister as the obligation of the banks to allow the transfer of mortgage from a property that has been sold to property purchased while they keep the loan at a favorable rate.

Therefore, families who needed to pay off a loan early after selling their property could get a loan back while maintaining the same original rate on the amount owed ​​​​​​back to avoid additional financial constraints in the flexibility of the market. For example, today, a couple, who has a loan of 200,000 euros to pay back at 1% in advance, as a result of selling their property, can get a loan back with the same payment. monthly up to 146,000 euros with a discounted rate of 4.6%. So this is an additional reason to block the market, because at that time there is no interest in changing properties because in these conditions it is difficult to grow bigger or better, even with additional financial effort .

So he believes that if banks were encouraged to transfer guarantees on the new building while keeping the same loan, part of the market would be unrestricted. This is without additional expenditure on the part of the State and without loss for the bank, since the first loan is well preserved. Such a device, limited in time and limited to primary residences, would quickly help revive part of the real estate market.

Published in the OJ Senate on 07/11/2024
– page 4306