Why is the credit broker market growing?

At a time when many sectors are still suffering from the effects of the economic crisis, the market for mortgage brokers continues to grow.

Within 5 to 7 years, the share of loan amounts negotiated by these professionals should reach 50%, according to the latest studies from Good Finance and Honest Bank. Back to the various arguments in favor of brokers.

A real estate market conducive to renegotiation

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“The context is favorable for future buyers, the only element that could seize the machine is the rise in prices” explains the director of communication and studies of Good Finance, Sean Cole.

With historically low rates, a widening of the zero-rate loan (GFI) and the maintenance of the GF system, the real estate market in France is part of a “ great dynamic in 2016, both in the new, the and rental investment ”, as Cole points out.

Faced with this favorable economic context, borrowers are increasingly turning to the know-how of brokers to obtain the best bank offers – whether for renegotiating their credit or for taking out a brand new mortgage. All candidates for the acquisition of a property wishing to benefit from their negotiating strength and the time savings associated with this solicitation.

A partnering approach valued by banks

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Contrary to popular belief, the expertise of brokers is not feared by banking institutions. With this partnership, banks see it as an additional channel to get new customers.

It is then up to them to establish the best offers to support those of their competitors and thus win the support of borrowers represented by brokers.

In other words, for banks, the use of these professionals saves on reaching new customers and saves time – bankers and intermediaries speaking the same language …

Optimal security of borrowing conditions

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Finally, the very young real estate brokerage activity has been structured over the years, organizing itself into a large network (like Cafpi), while offering new security guarantees to borrowers.

Like the GFIC association, responsible for issuing a “work permit” to all insurance, banking and finance intermediaries. To obtain it, these experts must pay registration fees and meet certain conditions (repute, age, financial guarantee, professional capacity, etc.)

And for the control of their activity, there exists the Authority of prudential control and resolution (ACPR), backed by the Good Finance Bank, having the possibility of taking administrative police measures and having a real power of sanction.

So many reasons and authorized organizations, intended to reassure borrowers and encourage them to take advantage of the know-how of brokers, to negotiate their mortgage.

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