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Loans

 

Mortgages and loans

 A mortgage or home loan can be taken out to cover all or part of the purchase of a property, the cost of construction or home improvements. It is granted by a bank or specialised financial organisation and is established over a long period (more than 20 years, on average).

  • You can choose a fixed, variable or capped rate mortgage.
  • You are usually expected to make a down payment equivalent to 10% of the purchase price, but a 100% loan may also be possible.
  • A mortgage is a loan in for which the collateral is the property itself, but other ways of securing a loan are possible with certain specialised companies.
  • It is strongly recommended to take out life insurance to cover the risks of illness, temporary or permanent disability, or death in order to protect the borrower's family and heirs.

 Complementary  loans may be taken out in addition to a mortgage according to the profile of the buyer and may allow the complete financing of the property. (see list below)

Funding diagnosis * : click here
*NB This diagnostic tool does not take into account any measures specific to the Alpes-Maritimes: click here,¨For a complete financial analysis contact your bank, the financial advisor of your company's 1% collecting body, or Adil click here





 Complementary loans

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  • PTZ+: Zero percent loan 
    • Description Who can benefit? Who to contact ?
      Reserved for first-time buyers and means tested, the new loan is more or less advantageous, according to geographic location, energy consumption and age of the property or existing social housing. In the Alpes-Maritimes, if you buy a new property which corresponds to the low consumption environmental standards (BBC), the loan will finance up to 40% of the amount of your purchase. In all cases, it may not represent more than half the total amount borrowed.
      PTZ + may be combined with any other loan      		 Individuals who have not owned their primary residence during the 2 years preceding the PTZ+ loan request. The PTZ+ is means tested, however the total revenue of the entire household is taken into account to calculate the loan repayment conditions. The property must become the main residence of the borrower* within a period of one year following the declaration of the end of building works or purchase of the property.

      * see exceptions
      Calculate your loan with the PTZ+ Simulator:  
      Click here
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  • PAS : Social housing ownership loan
    • Description Who can benefit? Who to contact?
      The social housing ownership loan (PAS) encourages loan companies to grant attractive loans to middle or low income families. In order to bring down the maximum interest rate of classic loans by 0.6 of a point, the State covers part of the cost of the risk and guarantee. This allows families to build or buy a primary residence (which must be occupied for 8 months per year) or to carry out renovations or home improvements. Households who wish to build, buy or improve their home, whose joint income does not exceed the maximum fixed. Your bank or a State-approved loan company.
      For more information, contact the: Ministry of ecology, sustainable development, transport and housing.
      Click here
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  • Approved loan
    • Description Who can benefit? Who to contact?
      A number of attractive loans exist to reinforce State measures to encourage home ownership and home improvements. Any individual wishing to build, buy or impove a property can benefit from an approved loan, which is not means tested and may entitle the borrower to the Aide Personnalisée au Logement (APL) Your bank or a State-approved loan company.
      For more information, contact the: Housing Ministry.
      Click here
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  • PEL and CEL loans
    • Description Who can benefit? Who to contact?
      A PEL or CEL (plan epargne logement or compte epargne logement - equivalent to a building society savings account) provides an attractive rate of interest while you are saving to buy a primary residence or make home improvements. After a minimum period, the savings can be used to finance a loan.
      		 PEL or CEL holders Your bank or loan company.
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  • Loans from pension funds, mutual insurance or works councils
    • Description Who can benefit? Who to contact?
      Most pension funds, mutual insurance and works councils offer low interest loans to help finance home improvements or extensions. Conditions (rates, amounts, eligibility) vary from one organisation to another. Your complementary pension fund(s).
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  • 1% Action logement loans
    • Description Who can benefit? Who to contact?

      "1% action logement" offers loans to buy land or a newly constructed apartment or house. 

      You can also take out a loan to buy an older property, with or without necessary renovation work, according to certain conditions of income.

      		 Employees of private sector (non agricultural) contributing companies.
      Amount?
      The amount of the loan, which depends on the location of the property, can cover up to 50% of the final cost of the property with a minimum and maximum for each zone (minimum 6 400 €, maximum 17 600 €). The interest rate is 1.5% (nominal annual rate with out insurance and fees)

      Action Logement :

      Recent constructions:
      click here

       Older constructions:
      click here
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  • PSLA : Social housing right to buy loan
    • Description Who can benefit? Who to contact?
      The right to buy loan allows you to become the owner of the property you are renting, after a minimum period as tenant. The seller, which is initially your landlord (a social landlord, or private developer), uses the PSLA to finance the construction or purchase of the property. This loan brings with it a number of tax advantages and entitles you to the "Aide personnalisée au logement" (APL) whether you be the tenant or owner. The resources of the household must not exceed the maximum set according to the size of the household, and the location of the housing.   ANIL
      Click here
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  • PASS-FONCIER loan 
    • Description Who can benefit? Who to contact?

      PASS-FONCIER encourages first time buyers to buy recently constructed property with the joint help of local authorities, the State, and Action Logement .

       

      		 The PASS-FONCIER loan is reserved for first time buyers. Certain conditions apply. Appropriate Bodies 
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