A figure confirmed by an exclusive survey carried out for the occasion by PAP.fr among 10.828 candidates for purchase between November 22 and 27, 2022 since 9,8% of buyers declared that they had been refused a loan. recently.
Buyers who testify that financing is becoming a central issue since 60,4% of them say they are worried about it.
* Ad republication rate: rate of ads that have been unpublished due to the signing of a sales agreement and that are republished 4 to 8 weeks later.
9,8% of buyers have recently been refused a loan!
Among the reasons leading to a refusal of a loan, the buyers concerned mainly cite a problem with the wear rate: 62,1%. The other reasons come far behind: debt ratio too high (30,5%), professional situation (21,7%), insufficient personal contribution (20,2%).
Finally, we note in parallel that the Energy Performance Diagnosis (DPE.), to which the banks are paying more and more attention, was an obstacle in 3,3% of cases.
A situation that affects all profiles…
Loan refusals affect all types of professional profiles, including those who might seem to escape it, like private sector employees on permanent contracts who represent just over one in two cases. As well as all age groups, with a peak of 32% among 40-49 year olds!
And not just first-time buyers as one might think, since they only represent 37,1% of cases.
Nearly one in two buyers who have been the subject of a loan refusal have modified their search criteria following this refusal
Loan refusals led just over one in two buyers (52,2%) to modify their search criteria. When the balance (47,8%) bets on a drop in prices…
60,4% of all buyers using credit say they are worried about financing their acquisition
The question of financing concerns all buyers, even those who have not been confronted with a loan refusal since 60,4% of buyers indicate that they are worried about this subject.
At the same time, 92% of buyers expect interest rates to rise in the coming months.
A problem that does not concern one in three buyers!
33,4% of respondents are considering a cash purchase, without having to resort to credit. This was made possible by the resale of their initial property before embarking on a purchase, even if it means going through rental for the time to find the rare pearl.
A strategy implemented in particular by retirees (58,1% of cash buyers are retirees) who have been able to save and who know they are excluded from credit. But this solution (selling before buying back) could also help assets which would thus have a more favorable profile with more personal contribution.
41,4% of buyers expect prices to fall in the coming months.
Asked about how they anticipate the market, the majority of buyers think that prices will fall (41,4%), when 35,3% are betting on stability. Finally, 23,4% believe that prices will continue to rise.
Methodology
Study carried out using data from:
- from a survey carried out between November 22 and 27, 2022, via an online questionnaire among 10.828 people actively looking for a property to buy on PAP.fr
- data from the republication of sales advertisements, in November 2022, on the PAP.fr site, within an interval of 4 to 8 weeks after their cancellation.