One in three taxpayers (around 2.1 million) who declared an income of up to 5,000 euros per year do not have access to bank loans to buy a house, because by definition they cannot afford a mortgage service
Also, the possibilities are limited for another 1.3 million taxpayers who declared an income of €5,000-10,000 and who, even if they pass the bank’s credit criteria, a it is doubtful whether they would be able to service the mortgage without problems and delays.
Since an average mortgage loan installment of €100,000 with today’s interest rate of 4.1% and a repayment period of 30 years is €483 per month – i.e. €5,796 per year – its service requires all or more than half of the income. half the country’s taxpayers.
Bank practice adheres to the basic rule that a taxpayer with a net family income of up to €5,000 cannot get a mortgage and that earners of €10,000 can get a mortgage loan of only €85,000.
Those who can request a housing loan are therefore limited to the remaining 3.1 million taxpayers – out of a total of 6.5 million – who, based on tax office data, declare an income in of at least €10,000.
