Half of borrowers taking out a mortgage loan for their main residence are buying for the first time, according to the Banque de France – they are therefore “first-time buyers”. An important step for them but also for their bank, the establishments being particularly looking for this category of often young buyers. “It’s an opportunity to build customer loyalty at a key moment in their life”underlines Maël Bernier, spokesperson for Meilleurtaux.
The first-time buyer is often at the start of their career, with prospects of increasing their income. “The bank will then be able to offer them savings products, a car loan, etc. “, continues Ludovic Huzieux, co-founder of Artémis Courtage. So many ways to make the relationship profitable and renew your customer portfolio.
Lenders therefore often grant specific conditions to first-time buyers. “Young people have been the most affected by the rise in mortgage rates over the last two years, which has significantly reduced their borrowing capacity.”, recalls Yoanne Bobe, responsible for the credit offer at La Banque Postale. Conversely, borrowers who already own and resell their home to buy larger have generally generated a significant capital gain, which mechanically increases their real estate purchasing power.
“ The Postal Bank does not reserve its most advantageous conditions for high-income borrowers, young people with intermediate incomes also benefit from it », continues Yoanne Bobé. In this establishment, those under 35 years old obtain a reduction of 0.10 points on the rate and a reduction in application fees − they amount to 0.80% and a maximum of 1,000 euros instead of 1% and of 2,000 euros maximum. The offer is based on age and not on the criterion of the first real estate purchase, but, in practice, those under 35 are most often first-time buyers.
Marketing or real boost?
“Purchasing real estate is a complex and anxiety-provoking event, young buyers particularly need to be supported at this key stage of their lives”, confirms Fabienne Amblard-Larolphie, director of the individual market at the Caisse d’épargne. This establishment offers buyers benefiting from the State’s zero-interest loan (PTZ) an additional loan at 0%, capped at 20,000 euros. Same principle at the Banque Populaire, with a limit of 25,000 euros, and at Crédit Agricole d’Ile-de-France (20,000 euros). As for LCL’s first-time buyers, they benefit from 20,000 euros at 0%, whether or not they are eligible for PTZ.
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