What is the redemption of credit, why use the rechargeable mortgage, how are people overindebted? The study conducted by the online broker Emperatum in partnership with Market Audit with 1760 Internet users provides information on these points. The results of this survey allow us to have a better view of the perception and knowledge of French on credit solutions.
The “credit redemption”, 9 out of 10 people have already heard about it!
According to this study, we can see that the principle of credit redemption is known by 90% of people surveyed, for more than one out of two people, the media (press, TV, Internet) are at the origin of the information, however, 40% made personal inquiries to obtain information.
The purchase of credit is therefore part of the financial vocabulary to control, the people concerned are increasing, the study of the online broker Emperatum allows us to know how this is perceived by the French.
So social phenomenon or real change in the financial structure of French households?
According to the study, 60% of respondents are currently involved in a consolidation of their debts in one credit or will be in the future. 23% already anticipate a delicate situation and therefore a future need to have to resort to the repurchase of credit.
If 3 out of 5 people have already had the opportunity to consolidate their credits or will do so soon, 21% of them absolutely do not want to talk to their entourage, probably thinking that the recourse to this type of solution will be perceived negatively, as a sign of mismanagement.
On the other hand 62% will talk without worries to their entourage in order to serve them and to inform them on the details of the implementation of a solution of repurchase of credit, they consider that this approach is adult and rewarding.
What are the reasons for using credit redemption?
The most obvious benefits of setting up a credit buy-out solution, and which emerge from this study are:
The single draw, which is for 80% of respondents the most obvious advantage, but the decline in the amount of monthly payments is for 72% of them an equally significant advantage.
Credit buy-back is then perceived as a solution to renegotiate its credit rate and therefore pay less interest and / or less agios, but the possibility of having more availabilities each month is also for 39% of respondents a significant advantage.
” From the following list, what are the benefits, in your opinion, that an individual can derive from pooling their credits into one ? “
|Have only one sample on a given date||80%|
|Lower the amount of the monthly levy *||72%|
|Renegotiate his credit rate||47%|
|Pay less interest, less agios||45%|
|Have more money available every month *||39%|
|Increase the duration of his credit||28%|
|Do not know||2%|
Credit buy-back is a recent sector of activity, banks do not want to take risks and often respond negatively to sensitive profiles. (The situation of over-indebtedness, Banque de France banknotes…) The French therefore tend to favor financial organizations for help, 48% of them went through an intermediary in banking operations. However, for a quarter of the respondents the invoiced fees do not seem justified. Yet agencies will take care of all the tedious steps that a debtor is faced with as a particular, and negotiate the best to get the best deals and conditions. Intermediaries in banking operations (IOB) will only charge their work in the event that the file is successful and you accept the proposed conditions. 36% of those surveyed think the fees are justified, especially since they are integrated in the funding and therefore painless. A new type of credit: the rechargeable mortgage.
The rechargeable mortgage, allows to pledge a new credit thanks to the repaid capital of a previous mortgage. The mortgage released by your repayments will therefore serve as collateral to take out new loans.
This new concept is known only by a quarter of respondents, the principle is not obvious and relatively young, we understand that it is not yet very recognized. However after explaining the main benefits of the rechargeable mortgage, more than half of the respondents would be interested in this offer and would use it to get a new mortgage or a loan for the work.
“With the rechargeable mortgage, you think you would finance what kind of project? ”
|A credit for works||24%|
|A credit for a vehicle||16%|
|Do not know||10%|
|A credit for other reasons (marriage, holidays…)||16%|
Rechargeable mortgage loans are now available for home loans, but as early as November, they can also be used for consumer loans.
How is the use of credits and their various uses perceived?
If now, it is widely accepted that a credit is necessary to acquire a property, a car or carry out work; consumer and revolving credits that finance bank overdrafts or hobbies are rejected. Yet by looking at the profile of respondents, we find that more than 50% of them have a revolving credit or at least a card to take advantage of money reserves.
For over half of the respondents, over-indebtedness is the cause of accidents in life or pressure from financial institutions. Only 16% question the individual behavior of the over-indebted. Any individual, coming from any socio-professional category, can therefore be a victim of over-indebtedness. However, for a third of respondents, modest incomes are still the most obvious target of an over-indebtedness situation.
Today the modern economy would be unthinkable without recourse to credit. For the majority of us, saving alone is not enough to access housing, comfort and everyday equipment. It is also necessary that this bridge towards more well-being does not reveal itself a deadly trap and is not crossed without control.