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What are the conditions for opening a zero interest loan?

 

Its opening conditions are significantly different from those of the former PTZ, allowing more people to access the property. Reserved for first-time buyers, the zero-rated credit is subject to very specific conditions as regards the composition of the home, the resources or the geographical area. The conditions of the new PTZ are more flexible, and the duration of credit is extended. All income groups can benefit from the deferred repayment for a minimum of 5 years.

In the same theme

  • Apartment loan
  • The real estate credit calculation
  • Subscribe to a mortgage
  1. What solvency for an interest-free credit?
  2. What profile for a zero rate credit?
  3. The legal conditions of the PTZ

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What solvency for an interest-free credit?

interest-free credit

To qualify for credit in general, the creditworthiness of the borrower is verified because it determines the ability to cope with the repayment of credit. Although is an interest-free credit, the concept of solvency is identical to that required for other credits.

This debt ratio is plus or minus 33% of resources.

These resources may be justified by the production of the tax form and pay slips. The reference taxable income is shown on the N-2 tax bill as at the date of the application, for example, the 2014 tax assessment for a zero-rated credit application in 2016.

It is possible to adjust this data because only the income of the persons who will occupy the dwelling covered by the zero-rated free credit will be taken into account.

It is, therefore, necessary to make all the necessary corrections in order to provide the most accurate information.

What profile for a zero rate credit?

What profile for a zero rate credit?

It is not enough to have a real estate project to qualify. A profile is established so that households with the most modest resources can acquire their principal residence. It is, therefore, necessary both to justify income not exceeding the legal ceiling set according to the geographical area where the property is located, but also according to the number of people who will occupy the housing.

Once the housing is eligible, this interest-free credit can be requested by a single person, a couple or a family.

For example, in 2014, the typical profile of the household benefiting from a zero-rate loan was mainly a young active couple, with an average age of close to 33/34, a worker or employee. The PTZ was contracted for an average duration of 20 years and for an average amount just under 40 000 €. The average price of the typical transaction that benefited from the zero interest credit was € 190,000.

The legal conditions

The legal conditions

The legal conditions to which the zero interest loan is subject are:

  • the conditions of resources coupled with the conditions of the geographical location of the dwelling;
  • the composition of the home;
  • the notion of principal residence with exceptions;
  • the type of real estate;
  • the quality of the first-time buyer of the borrower;
  • a repayment period adapted according to the resources of the tax home;
  • a PTZ refund with a grace period.

More details on this theme

  • Open a zero interest credit
  • Who can take out a zero interest loan (PTZ)?
  • Employee’s zero-rated credit
  • Where to buy a zero rate credit?
  • The operation of the zero interest loan
  • Subscribe to an online zero rate loan
  • Zero-rate credit: how long for what amount?
  • What is the maximum amount for a zero rate loan?
  • In which situations can one take out a free credit?
  • Closing a Zero Rate Loan (PTZ)
  • Early repayment of a zero interest credit

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