You want to access the property but you wonder if it is possible with your income? If so, how much can you claim for a salary of 2,000 euros per month? Lighting.
Before you start buying real estate, you should ask yourself several questions, including: how much can I borrow with my salary? To answer this question, nothing better than to turn to your banker or a broker. Here are a few answers first.
What you can borrow with 2,000 euros per month
Mr.Houtrique, banker at Crédit Mutuel Opéra in Montpellier, provides us with some details. He explains that borrowing capacity varies with age dand the borrower, due to borrower insurance. In fact, uA borrower approaching retirement age will have a lower borrowing capacity than a young person starting out because of the cost of borrower insurance.
Nevertheless, with a salary of €2,000, the monthly loan payment should not exceed €700, which would lead to a borrowing capacity of around €155,000 over 25 years.
Additional loans can be added to this study (loan of €20,000 at rate 0 for first-time buyers, loan 1% employer, loan at rate 0 in case of purchase in new).
Another important element: a bring is requested to finance the ancillary costs (notary fees, guarantees, file which corresponds to approximately 10% of the amount of the property).
Maël Bernier, spokesperson for Meilleurtaux, gave some advice in June to our colleagues at MoneyVox : “In this period of rapidly rising rates, my main advice is to be careful. When you go to see your bank or a broker, you will be given a financing envelope but it is better to look for properties a little in below, because what we offer you at the beginning of June will no longer be true in August. I therefore advise you to remove 10,000 euros from your envelope to prepare for contingencies”.
Increasingly demanding bankers?
By raising its key rates this Thursday, July 21 for the first time since 2011, in response to galloping inflation, the European Central Bank confirmed the end of a long period of easily accessible money. Historically low with an average of 1.06% last December, Rates have been going up ever since.. In one semester, they increased by 0.4 to 0.7% depending on the banks and the trend will continue.
Consequence: more difficult access to credit for individuals. A more marked finding in the former Languedoc-Roussillon, where purchasing power is low, where real estate prices remain high and where properties for sale are scarce. With, on the list of the most attractive cities, Montpellier and Sète, followed just after Narbonne, then Nîmes and finally Béziers, Carcasonne and Perpignan.
“Bankers continue to lend but are becoming more demanding on the profiles, explained to us at the end of July Laurence Deschatrette, broker officiating for 15 years on the Montpellier market. We are starting to have refusals, mainly for investor profiles, or for problems insurance for older people. Even 40-45 year olds who have no health problem and have good records find themselves confronted with usurious problems”.
Note: to carry out a mortgage loan simulation, all you have to do is enter the information about your situation and the amount of the loan you wish to borrow via the various simulators available online, such as that of the Postal bank or even Agricultural credit.
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