Virgil, the start-up that allows you to buy bigger or better placed
Virgil helps first-time buyers to acquire real estate in major cities by investing alongside them, a solution that allows the buyer to go ahead without lowering his ambitions (surface area, location).
With property loan rates still very attractive in June (1.29% on average according to the Observatoire Crédit Logement CSA), candidates for home ownership would be wrong not to start. Unfortunately, many borrowers do not go further than the examination of their file by their credit institution. This is due to tighter conditions, with a maximum debt threshold of 33% of income and a request for a contribution in many cases.These constraints can push buyers to postpone their project or, in the best case, to buy a smaller area or target a less sought-after neighbourhood (or city) and therefore cheaper to get into the market.
The start-up founded in 2019 by Saskia Fiszel and Keyvan Nilforoushan offers buyers the opportunity to complete their contribution up to a maximum of 100,000 euros, up to a limit of 20% of the amount of the operation. The objective here is to constitute or strengthen the personal contribution, which is crucial for obtaining the loan needed to complete the purchase.
Having both participated in the development of the start-up OneFineStay, a kind of luxury Airbnb, they quickly noticed a strong divide: “In our teams, we noticed huge gaps between those who had family contributions and those who didn’t,” notes Saskia Fiszel.This is not a problem of access to loans, but of access to capital,” says Fiszel, and the price rises, especially in Paris, are not helping: “Prices are so high that you have to make up your mind to buy too little or too far from your workplace,” she says.