To finance energy renovation work in a co-ownership, borrowing is an option. “The co-owners were very reluctant a few years ago, now it is no longer taboo”relates Francis Bourriaud, founder of ADB Conseils, which supports co-ownerships in their management. “We are in high demand for credit requests”confirms Christophe Berfini, director of trustee activities and property administrator at the Caisse d’Epargne d’Ile-de-France.
However, the number of co-ownerships using loans remains limited; between 2,000 and 3,000 co-ownerships, out of nearly 600,000 co-ownership buildings, submit a file each year. It must be said that this solution is only proposed by a few people.
The first is the Ile-de-France Savings Bank, whose activity in this case is extended to the entire territory. It offers a loan called Copro 100. The second contact is Domofinance, a subsidiary of BNP Paribas Personal Finance and EDF.
In both cases, it is a collective credit (attributed to the entire building) with individual membership. It is voted on at the general meeting of the co-ownership, but only the co-owners interested, and up to date with the payment of their charges, subscribe, up to their share. The bill on the renovation of degraded housing, under discussion in Parliamenthowever, provides for the creation of collective credits with compulsory membership.
“It is not certain that the banks will follow because they will also have to lend to indebted co-owners”doubts Emile Hagège, general director of the Association of co-ownership managers.
Public bond
For a collective loan with individual membership, the co-owners have two months to make themselves known to the trustee. The rate is that of current real estate rates, between 4% and 5% for a period of up to twenty years. Advantage of collective credit: the age of the co-owners is not taken into account. A guarantee system is put in place to avoid solidarity between the co-owners, in the event of non-payment by one of them.
The bill on degraded housing plans to introduce a public guarantee, to facilitate the use of collective loans. Moreover, “it had been considered a reform of this collective loan, by making it transferable to the buyer, but this is no longer relevant for the moment”explains Danielle Dubrac, president of the National Union of Real Estate Unions.
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