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More and more young families can no longer access mortgage credit since the National Bank imposes quotas on banks.
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About 10 to 15% of households who want to take out a mortgage for the first time no longer have the opportunity to embark on the real estate project of their dream, according to statistics from Immotheker Finotheker.
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The advisory office attributes this increase to the National Bank’s decision requiring banks to limit the number of loans to more than 90% of the amount. For first-time buyers in this case, this cannot exceed 35% of the loans that an institution grants. And 5% can still take out a loan of up to 105%.
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But, notes Immotheker Finotheker, many young families do not have sufficient financial resources to finance part of the purchase and associated costs themselves.
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“In practice, banks and insurers reserve this 35% for higher income. They rarely, if ever, allow quotas above 100%,” analyzes the consultancy.
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For credit insurance for young households
Home loans are more expensive because banks have increased profit margins, says Immotheker Finotheker again. First-time buyers who take out a loan with a quota of more than 90% must also often pay an increase in interest to the banks.
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The consultancy office therefore recommends the introduction ofcredit insurance for young families in compensation for a lower personal contribution. In the event of default by the borrower, reimbursement would then be paid for by an insurance company.
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