ConnectCrédit : facilitator of real estate invesments
Co-founders of the ConnectCredit start-up created in 2020, Jonathan Fitoussi and Régis Ansel aim to become a leader in real estate brokerage in Ile-de-France within the next three years. Their solution: an application determining the purchasing capacity of each French or foreign family. They are already enjoying great success. ConnectCredit is a partner of the World Property Business Club.
ConnectCredit: facilitator of real estate investments : meeting with Régis Ansel :
Is mortgage easily accessible to non-residents?
Now is not the time for relaxation, at least not for non-residents or expatriates. For these people, on the contrary, the banks decided to tighten the conditions for granting mortgage loans. Some even outright refuse to finance the real estate investment projects of Americans in France. For other non-residents, it all depends on their country of origin. These are categorized according to their “risks”. The profile of a European investor wishing to invest in France is better received than that of a non-European.
ConnectCredit has solutions for all investor profiles. We start with non-residents or expatriates in the same way as with French people. We are talking about intake. Except that the amount is very different. It can even be multiplied by three! When 10% of the contribution is sufficient for French people buying in France, 30% to 40% are requested from non-residents or expatriates. It’s extremely high. Many are incapable of such a financial contribution or investment. We can then realize a mortgage loan.
Concretely, banks examine the value of real estate already held by applicants for French mortgage. They can thus take their real estate as security to grant them this new credit. ConnectCredit has entered into partnerships with Luxembourg, Belgian and German banks. Thus, when French banks refuse to finance the projects of non-residents or expatriates, other solutions exist. It therefore remains possible for these investors to access financing, but it is a project that is being prepared.
What about interest rates for 2021 ?
Interest rates are still low and there is no reason why they will skyrocket next year. The economy needs more support than ever. I am banking on a very dynamic first quarter”says Régis Ansel.
A mortgage at an attractive rate for 2021 is now being prepared. ConnectCredit is committed alongside future buyers by analyzing their financial situation. We will give them back a financial audit within two hours, allowing them, or not, to initiate their research. And if they get a green light from us, we also give them a budget cap. It is up to us, thereafter, to offer them the best financing offer, adapted to their profile.
At ConnectCredit, we receive an average of 70 calls per day from people wishing to do a preliminary study. A guarantee of security for real estate professionals. They then interact with clients who will make their research a reality. Nobody is wasting their time. A solution that only makes people happy!
You are a credit partner of the World Property Business Club. What advantages do you bring to its members for the financing of their French clients?
Our online simulator allows everyone to get a first idea of their financing capacities. But we go much further. We offer all real estate agencies and independent real estate agents the analysis of the financial situation of their prospects. Thus, the latter can return to see them with a determined budget allowing them to better define their research. This predefined budget is then quickly obtained via mortgage from our banking partners, French or European. What should also be remembered is that there is no inevitability in funding. Just because French banks refuse an investment does not mean that the case will inevitably end up in the trash. Our European partners can perfectly agree because the financing conditions differ from one country to another. A partnership with Connectcredit thus maximizes the chances of success for all of their customers. And a happy client makes a happy real estate agent!
Do you finance French real estate investments abroad and for what types of investments?
It’s perfectly possible for French people to acquire real estate abroad. But this is only accessible to people who already own property in France. If this is not the case, financing is still possible if you have investments. Their value must be at least equal to 50% of that of the property coveted abroad. In this case, ConnectCrédit offers, thanks to an advisory mandate, a detailed analysis of the professional and financial situation of its clients. Thanks to it, they will be able to know if they can embark on the acquisition of real estate abroad and how much this cash envelope will be allocated. If so, they will be able to purchase any type of good, without restriction or preference.
French interest rates will remain low in 2021. Now is the time to embark on real estate projects. The profile of expatriates or non-European residents is appreciated by banks. ConnectCredit finances residents and non-residents by maximizing the customer experience with an innovative online simulation tool.
Interview by Stéphanie Buitekant