The search for the most attractive mortgage leads many aspiring homeowners to compete to end up turning their backs on their first bank. Beyond the simple loan maturities, it is very often the totality of the activity income that is repatriated to the new establishment.
And this is not surprising, since most banks use the domiciliation of your capital as a lever for negotiation.
A financial stake
At a time when it only takes a few clicks and a transfer of several hundred euros to open a bank account, it is not uncommon to be a customer of several banks at the same time. Having said that, it’s one thing to feed a minima a checking account to keep the benefit of a savings book, and it is another to use this wallet on a daily basis by paying your income into it. This is the whole issue of bank domiciliation. As soon as the remuneration for your work passes through the account of a financial institution, the latter in effect becomes your main bank, which ensures more income thanks to the products it can offer you and to management fees and commissions. that it collects on your operations.
Banks therefore want to encourage customers to domiciliate their regular cash flow, and taking out a mortgage is an opportunity to achieve this. “Since 2012, interest rates have fallen dramatically,” analyzes Sandrine Allonier, spokesperson for the Vousfinancer brokerage network. Capturing income is therefore a way for banks to make the loans they grant profitable. “
Back on a legislative flop
In the absence of legislation in this area, bank domiciliation was previously very often a condition sine qua non of the credit offer, without necessarily real compensation. Through an ordinance of June 1, 2017, President Macron intended to restore the balance by allowing mortgage loan contracts signed as of 2018 to impose a condition of domiciliation of income, provided that it is limited to a period ten years maximum and that it is necessarily accompanied by counterparts (lowering of the rate or cancellation of the administration fees) for the borrower. Except that “by wanting to protect the consumer, this legislation blocked him since the effective duration of a credit is only 7 years. Beyond that, many owners change their residence and therefore commit to a new loan, ”explains Sandrine Allonier.
This flop was also quickly confirmed by a ministerial report, before being rectified by parliamentarians. In order to remove this brake on banking mobility, the Pacte law of May 22, 2019 purely and simply repealed these provisions. Therefore, the transfer of your income is the sole business negotiation.
Cards in hand
As specified by Service-public.fr, the official website of the French administration, “the bank cannot impose a bank direct debit on you, nor penalize you if you choose another establishment. However, it can offer it to you in return for advantages (reduction in application fees for the loan, free bank card, etc.). “And the spokesperson for Vousfinancer confirms:” 85 to 90% of our customers who take out a mortgage domiciled their income in the lending bank. Everyone is playing the game to take advantage of a lower rate ”.
So what does it matter if, like 40% of borrowers, you are a first-time buyer and therefore little banked and you probably don’t care about having to change your main bank. You might as well take the initiative and negotiate this point in order to obtain the best possible compensation for the repatriation of your money.