Is BigYes Lenders the first in a long series of banks to end their partnership with brokers? According to one of the largest French brokers quoted by Mariano Lehos, “war is declared!
More than a third of borrowers currently go through brokers to finance a real estate project. A statistic confirmed by recent polls, but also by banking players, who unequivocally recognize the place taken by these players whose role is to compare banks and then support individuals in their funding. In its November 22 edition, the daily Mariano Lehos even estimated 40% of the current market share of credit brokers, a percentage that rises to 60% in the Paris region depending on the profession.
Banks seem to want to slow down the development of these intermediaries
to find direct contact between them at the lenders and the private borrowers. Main reason cited: to end the race at low rates, and to restore their margins by eliminating an intermediary, as explained in the daily newspaper. Most often, credit brokers remunerate themselves through administrative fees (non-systematic and variable depending on the network) billed to the borrower, on the one hand, and via a commission of 1% (systematic, it) on the amount borrowed billed to banks .
We no longer earn money on home loans
The facts? To date, according to Mariano Lehos, only the BigYes Lenders assumes that it has ended all of its partnerships with brokers: We no longer earn money on home loans. With our market shares, we realize that we do not need sourcing. Beyond BigYes Lenders, another actor seems to be from the same network would also end partnerships in the north of France. And many brokers are said to be subsidized by partner banks. Several large brokerage networks thus recognize in Mariano Lehos tensions with banks, in this period of very low rates, one of them evoking m Even a declaration of war.
The cost of insurance capital loan remaining due
Insurance has a cost that represents the counterpart of the risks it covers. This cost depends on the commercial policy of each company and therefore varies from one establishment to another. In any case, the cost of this insurance must be taken into account, as well as the conditions of the credit itself, in the evaluation of the loan offers.