While real estate rates will reach the 4% mark at the start of the school year, there are solutions to reduce the cost of your credit, such as the zero rate loan. But to get a PTZ this year, you have to hurry.
This is an essential advantage for first-time buyers at a time when real estate rates will reach the 4% mark by the start of the school year.
The zero rate loan (PTZ) is reserved for individuals buying their first principal residence. Accessible subject to means testing, this mechanism allows up to 40% of the total amount of the operation to be financed in geographical areas A, A Bis and B1. Thus, you borrow 40% of the 0% amount and the rest at the rate decided/proposed by your bank.
A long repayment diffr
For example, a family of 4 with 50,000 euros in income who buys an off-plan apartment for 200,000 euros in Reims can benefit froma PTZ of 80,000 euros over 20 years with 5 years of diffr amortization, illustrates the broker Vousfinancer.
Indeed, the zero rate loan, granted for periods of 20 to 25 years, allows the borrower not to repay it over a period which can range from 5 to 15 years. Once this deferred period has expired, repayment is spread over 10 to 15 years.
Why it might be easier to get a home loan this summer
In towns in the B2 zones and like Brest Limoges or Quimper, the PTZ can cover 20% of the envelope, or 40,000 euros for an operation of 200,000 euros.
In this period of rates that have returned to their highest level for 10 years and in a context where prices have not yet started to fall, particularly in medium-sized towns, which are very popular with first-time buyers, the zero rate loan is an essential aid for many to access propertythanks to the savings made on the total cost of the loan, but also and above all thanks to the deferred repayment agreement which can range from 5 to 15 years, explains Sandrine Allonier, spokesperson for Vousfinancer.
The deadline for obtaining a PTZ
But to obtain a PTZ, you must not delay, especially with the government’s recent announcement of a refocusing of the zero-rate loan on the sale in the future state of completion called VEFA and extended areas.
Some banks stop taking files with PTZ from mid-October, and until mid-November maximum to have time to process them before the end of the year. With the stopping of the PTZ for the financing of the construction of individual houses, we can think that there will be a peak in requests at the end of the year and therefore longer processing times, hence the need to anticipate and prepare your project from this summer!, underlines Julie Bachet, general manager of Vousfinancer.
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