In 2011, when he bought a house as his main residence in the suburbs of Montpellier (Hérault), Aurélien, 39, chose the loan insurance offered by his bank, without looking any further. But this year, when he decides to renegotiate his loan to obtain a better rate, problem: “With the insurance of my bank, my overall rate exceeded the authorized limit and my banker explained to me that my file did not pass, ”he explains. The annual percentage rate of charge (APR) must not, in fact, exceed the usury rate, decided by the Banque de France. Since last July, the institution has set it at 2.4% for loans under ten years, 2.39% from ten to twenty years and 2.41% beyond 20 years.
This is the maximum rate that all lenders are allowed to meet when granting credit. In the case of Aurélien, to whom 200,000 euros remained to be repaid over nine years, the APR therefore exceeded 2.4%. To lower it, he had to either add more to reduce the amount to be borrowed, or save on insurance. “For my part, I had no choice, since when I started this renegotiation I had changed my situation, with a little less income. I wanted to give myself a little air, ”explains the salesperson for a real estate developer. He therefore opts for delegation and turns to a broker.
“I managed to reduce my monthly payment by 300 euros”
As a couple now, but alone when he took out his loan, Aurélien managed to save 6,000 euros on the amount of the insurance. This made it possible to lower the APR to an acceptable level and his file was accepted. “Suddenly, I realize significant savings. Finally, I managed to reduce my monthly payment by 300 euros! he congratulates himself. When I borrowed ten years ago, the question didn’t even arise. My debt ratio remained in the nails, so the file was accepted almost automatically. I think that now, we have to look at everything very closely, and remain vigilant about the savings to be made! “
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