In early March, the banking federation published a report on household financing that highlights the use of credit. With a loan out of two, granted to individuals, the French do not hesitate to apply for the bank loan to carry out their projects. Home loans are always more numerous, but the credits conso progress and finance more and more personal projects.
Household projects increasingly financed by banks
While purchasing power is at the heart of the debate, individuals no longer hesitate to have their projects financed by banks. In 2018, banks granted € 1,227 billion in loans to individuals, an increase of 5.9%. Home loans grew by 5.8% and consumer loans by more than 6%. This curve is prolonged since in January 2019, a little more than 23 billion euros were granted in credits of which 18 billion for the habitat.
One in three French people have a consumer credit
Almost half of French people have a credit (47.8% of households), but 26.8% hold a consumer credit. Subscribers continue to benefit from ever lower interest rates. The entire French economy benefits as the outstanding loans finance either housing or purchases of consumer goods.
Popular consumer loans to finance all types of projects
A consumer loan is a credit that can finance many projects: car, furniture, appliances, work. With a maximum amount of 75 000 euros refundable for a minimum period of more than three months, consumer credit can also constitute a sum of money that the borrower can use as he pleases via a personal loan, ie an unallocated loan (for the less important amounts). The consumer credit affected finances a specific purchase (car loan, work loan, etc.). The banking federation has seen an increase in leasing with the option to buy or LOA, which accounts for nearly 20% of consolidated loans, taking the lead notably over conventional car loans.