Definition of zero interest plus loan
By representing the 2011 version of the zero-rate loan, the zero-rate loan plus granted to borrowers until December 31, 2014, is established for first-time buyers, with a view to building or buying real estate.
Zero interest plus loan: scope
Granted after a request to a banking organization, the loan plus is used to finance:
- building housing or buying land;
- the acquisition of a home for a first use;
- fitting out of premises of the kind not intended for habitation;
- the development of housing that was occupied before, and with the completion of improvement works if necessary;
- the acquisition of housing under the title of a rental-accession contract;
- the purchase of accommodation with additional goods such as garages, gardens, parking spaces, etc.
loan plus: credit conditions
Said loan is a complement to other loans, of which it does not provide financing for more than 50% of the amount of the purchase of a home. It cannot be considered as a personal contribution to supplement other financial commitments.
To be able to take out a loan at zero rate plus, you must not have owned a main home less than 2 years before filing your application for the loan. This last condition does not apply in cases where the applicant is:
- disabled or unable to exercise a profession;
- suffers from a disability allowing him to benefit from the allowance specially designed for these cases;
- victim of a natural or technical disaster, which permanently damaged his home;
On the other hand, during the period when the borrower repays his loan, the housing cannot:
- be used as commercial or professional premises;
- be used as a second home;
- be the subject of an accessory linked to a contract.
The accommodation cannot be rented during this period with the exception of the following cases:
- professional mobility relating to a distance of more than 70 km between the workplace and the accommodation to which the loan relates;
- death, disability;
- unemployment for more than a year;
Note that in the event of the destruction of the property before the term of the zero plus rate loan, the latter is maintained until further reconstruction. And in case of sale or donation, the borrower must reimburse the remaining amounts immediately. And for the purchase of a new main home, the benefit of the credit can be subject to conservation.
loan plus: credit amount
To obtain a loan plus, you must take into account the annual resource ceiling, which is higher than the following two amounts:
- benchmark tax revenues;
- of the total cost of the operation divided by 10.
The calculation of the loan amount at zero rate is carried out by multiplying the maximum amount retained for the operation, by the quota. The amount of the transaction includes: the cost of purchasing the property; the works; agency fees; the cost of land in the new, excluding notary fees, banking other loans. However, the amount of the transaction is limited by regulatory ceilings.
Topics personal contribution rental-access contract ceiling of loan resources loan for first time access loan reimbursement