Banks have tightened the conditions for access to mortgage loans for professions hit hard by the coronavirus crisis.

Among the sectors affected: transport or even events.

It is a paradox of the coronavirus crisis.

Interest rates to repay a real estate purchase fell again in August and industry players repeat: it is time to invest in stone.

But in recent weeks, banks have tightened the conditions of access to real estate credit for professions affected by the crisis, such as events or transport.

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The refusal rate up sharply in August

Michel Mathieu, Managing Director of LCL (Le crédit lyonnais), recognizes this: for some professions, it is more complicated to obtain a mortgage.

"There are sectors that are suffering, transport is suffering, everything that is event-related also suffers. So obviously, we are a little more careful on this type of file," he said.

The rate of refusal of mortgage loans thus rose sharply in at least August, to now concern one in ten cases.


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Events, a particularly damaged sector

The events sector is particularly affected by this tightening of conditions for access to mortgage loans.

François Choux, a butler, planned to buy land in Corsica with his wife and a friend, both involved in events, in order to build a house there.

“All the signals were on the green and when they realized that we were in the event, we were told 'never credit for you ladies and gentlemen' ...”, he laments.  

"We are not opulent people, we had saved a lot to get there. We had completely resized the house, we had completely designed it, we had only slept on this project for eight months- There. It was the realization of a life and we were stolen a form of dream, "he laments.

After a summer when his activity has been divided by 10, it is difficult for him to make new projects.