A passerby looks at the window of the headquarters of the consumer association UFC-Que Choisir in Paris ( AFP / File / Jacques Demarthon)
UFC-Que Choisir has attacked Monday in the practices of the actors of the banking bail considered opaque, having already blasted the operation of another component of the mortgage, the borrower insurance.
“We have borrowers who are captives, victims of a contract made by banks for banks, a sclerotic market characterized by questionable practices. We are dealing with a scandal, “said Maxime Chipoy, research manager of the Consumers’ Association, during a conference call.
The object of the wrath of the UFC-Que choose? How is managed bail mortgages in France. This is for a borrower to use an outside company to secure its bank that it will pay out the maturity of the loan. In case of failure, the company replaces him but can then turn against him to recover the money advanced.
The bond guarantees the most frequently used and weighed 56.3% market share in 2012 .
Among his complaints, UFC-Que Choisir has highlighted that the actors of the bond were mainly from banks, like the leader Crédit Logement, held by BNP Paribas ( 16.5% of the capital), Credit Agricole (16.5%), LCL (16.5%), Societe Generale (16.5%) … The other companies are they, subsidiaries 100% certain groups such CAMCA (Credit Agricole / LCL).
“Consumers have the choice between a subsidiary and a subsidiary”, denounced the association in a statement.
Another factor pointed to the cost differences between the players, which can vary from simple to more than double (2.5), but borrowers can not enjoy being oriented subsidiary of the institution in which they subscribe their loan.
“We are asking for a free and fair competition. We must give real freedom of choice, “said Alain Bazot, president of the UFC-Que Choisir
-. A free competition –
recovering from competition in the sector, it is estimated that the gain for customers to be between 210 and 270 million euros per year for an average annual amount paid between 2007 and 2013 of 523 million euros.
To support its demands, the UFC-Que Choisir has already entered the Competition Authority for an opinion and hope legislation. In this regard, Mr. Bazot said he would meet with the Minister of Economy, Emmanuel Macron Friday.
In addition, she believes, the money made by the Housing Credit to the borrower at maturity of the loan, ie in 2014 about 72% of the guarantee amount paid to the implementation of the loan, are not sufficient.
“The Housing Credit mutualizes losses but privatizes profits,” said Mr Chipoy.
According to him, interest generated by the money invested in mutual guarantee fund (MGF), whose size is around 4 billion euros, will in fact benefit to shareholders of Crédit Logement, not the borrowers.
” reintegration into the FMG interest generated by the same fund would have allowed him to be completely independent, and bear all the losses due to non-repayment of loans. It would even pay a little money paid by consumers, “suggests the UFC-Que Choisir.
Contacted by AFP, the French Banking Federation was not available to react in the immediate.
This is not the first time that the consumer association is the mortgage. She had already called for restitution to policyholders of profits on credit insurance contracts, which cover disability or death, even in the current folder.
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