While real estate rates are rising, first time buyers can reduce their costs thanks to the interest free loan. A convenient solution to purchase in accordance with the new energy standards in force.
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sHere is the PTZ, which is eligible, does the interest-free loan cover the entire loan for the purchase of a new home?
Owning your own apartment or house is the dream of many families, who are tired of seeing their money go to rents, to goods that are often poorly insulated and consume a lot of energy. Choosing new is a guarantee of stability in a property in perfect condition, while respecting energy standards. In fact, some developers immediately opt for innovative materials, for example walls with high insulating properties, or joinery bordering thermal bridges. Numerous real estate operations are underway or planned throughout France.
Did you know that it is possible for a first time buyer to get an interest free loan to finance part of their mortgage? This is a significant boost in the context of the rise in real estate prices, which should continue for a few more months, according to analysts. Rates are already over 2%, and could reach 3% in 2023, according to some industry professionals.
VINCI Immobilier supports first-time buyers who qualify for PTZ in searching for new apartments in residences throughout France, for example.
Zero rate loan: How does it work?
Zero Rate Loan (or PTZ), is an interest free loan for borrowers who need a solution to finance the purchase of their first major residence, be it a house or apartment, with or without work.
At the new level, PTZ is reserved for housing that meets applicable energy standards, whether it is a property built, purchased new or off-plan.
To obtain it, you must fulfill certain conditions: in addition to being a first-time buyer (people who have not owned their main residence for at least two years), you must respect the resource cap.
They differ according to several criteria: the number of occupants in the housing, and the geographical area.
It is an agreed loan that is created by banks that have signed an agreement with the state. It is free of charge, and no more file fees should be billed than expert fees, interest, or temporary interest.
Can PTZ cover all loans made to his property?
PTZ targets low-income families, in order to facilitate their access to property.
They are also worried about people who are incapacitated, disabled or victims of natural disasters. It is also open to first time buyers who are on True Solidarity Leases (BRS).
PTZ makes it possible to cover up to 40% of the cost price of a primary residence. In the event that the personal contribution is not sufficient to complete it, then it is necessary to obtain a conventional mortgage from a bank.