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The political situation affects your real estate projects
Since June 9, 2024, France’s political landscape has experienced major upheaval Dissolution of the National Assembly and the possibility of a change of power. These events throw financial markets into uncertainty, directly affecting real estate lending conditions. Uncertain about the evolution of interest rates and economic policy, bankers prefer to delay lending decisions. If your credit file is stagnating, don’t worry.
When a bank makes a loan, it itself borrows from the financial markets. In the current political uncertainty, banks do not know under what conditions they can take a loan, which prompts them to delay or reject applications for real estate loans. For borrowers: this means it may be better to wait until warmer days to apply for a mortgage. On the other hand, the situation is more favorable for consumer loans. Lending decisions are faster and less influenced by major political trends. If you need a loan for a car or a job, you can go for it without hesitation.
Strategies to Maximize Your Chances for Banks
Faced with this situation, two strategies are available to you: patience or immediate action. if you can wait It may be wise to delay applying for a home loan until the political climate stabilizese. In the meantime, prepare a solid file with all necessary documents and wait for possible questions from your banker. For those who cannot wait, it is very important to be proactive. contact your advisor regularly, show your seriousness and determination. Also note that a consumer loan remains a viable and quick option if your financial needs are not related to real estate.
For those whose projects can’t wait, here are some practical tips:
- Take care of your loan with complete and up-to-date supporting documents.
- Maintain regular communication with your banker to demonstrate your commitment.
- Consider alternative solutions such as loan consolidation or peer-to-peer loans.
Finally, stay informed about political and economic developments as they directly affect loan terms. In times of uncertainty, the key is to remain flexible and well-prepared.