Buying real estate 2016: take advantage of the loan at zero rate

If 2015 has been a fairly positive year for the real estate market, 2016 will be a good year as well, according to observers. Most financial support is maintained, extended and even relaxed in terms of their conditions of grant. Devices that will, of course, lower the cost of real estate purchase, especially for first-time buyers.


PTZ +: a loan to lower the cost of real estate

 Image result for loan at zero rateVoted and renewed in the 2016 budget, the zero-rate loan, also known as PTZ or PTZ +, has undergone major changes to promote home ownership. More particularly, the modest households who want to buy their first principal residence are the targets of this device.

Specifically, the PTZ + can finance a portion of real estate investment without paying interest. This part varies depending on the cost of the investment, the resources, the location of the property (zoning) and the number of people making up the family.

With a few new features, the PTZ + can ensure up to 40% of the cost of a property new or old. This is the big novelty for this year, but the purchase of an old property is subject to work. You have to dedicate 25% of the purchase cost to renovations. In addition, income ceilings have been increased to target more households. For example, in Zone A, a couple with two children has a loan ceiling of € 74,000, compared to € 72,000 previously. In terms of reimbursement, always depending on income, a deferred period of 5, 10 or 15 years can be granted. Finally, to reduce the amount of monthly payments, the duration of the PTZ + is extended to a minimum of 20 years to not exceed 25 years.

Conditions of grant and revised loan terms

Before making the terms of a loan, it is essential to understand the principles and operation of a home loan. Calling on a professional is essential for this. PTZ + being introduced to encourage first-time buyers. In any case, they do not have a principal residence during the 2 years preceding the offer of credit. They can not therefore claim the PTZ + if they have inherited or benefited from a donation and even less if they have already bought a home as a principal residence. In addition, the property concerned will necessarily be the principal residence of the beneficiary. The latter has the obligation to occupy it for at least 6 years to live there for at least eight months a year.

However, it is possible to have a second home, a rental investment or shares in a REIT. In addition, there are other conditions allowing to benefit from the PTZ +: for the holders of disability cards of second or third category, those who benefit from allocations AAH or AES, those whose main residence was ravaged by a natural disaster or those expropriated from their principal residence for public purposes.