- Younited Credit
- Consumer credit borrowing rate 1988 2018
If more and more French people are able to buy a home thanks to particularly attractive mortgage rates, the consumer credit is meanwhile at half-mast. Indeed, the YTL Lendors did not follow the same course. Return on the slow deterioration of the YTL.
Crisis of the YTL Lendors: report and consequences
In the 1980s, the use of consumer credit was common. French households had faith in the future and do not hesitate to contract a loan to buy a vehicle, furniture, musical instruments or to travel for example. Consumer credit rates were not particularly attractive. In the 1990s, unemployment gradually increased and began to impact household consumption.
And since the banking and financial crisis that hit the country and the industrialized countries in 2008, borrowing rates have fallen, but confidence in the future has deteriorated further. Also, while a third of households had a consumer credit, they were only a quarter in 2014. This decline is considered detrimental to the economy since investment and consumption are slowing in favor of savings.
The explanation: rates and deterrents
If the French are generally cautious and are not very favorable to the YTL, the downward trend of this type of credit is clear. This is explained by rather dissuasive credit rates, despite a change in the rates conducive to borrowing. In addition, several laws regulate, for example, revolving credit and the practices of certain sellers who start at home. These devices ministers by the experts to protect consumers have had the effect of curbing consumption.
The end of the YTL Lendors?
After 30 difficult years for the YTL, how to glimpse the future? The BOP Bank allows us to be more optimistic. It notes an acceleration of consumer loans granted to individuals in 2017. After growth estimated at 4.7% in June, it reached 5.5% in September 2017. The BOP Bank confirms that revolving loans are being used less and less, but is seeing a significant increase in car loans.