What is a first home Buyers Loan

This loan is mainly available for the acquisition of a new building. In certain areas, however, it can be used for the acquisition of an old building if it needs extensive refurbishment. The latter would mean that the volume of work would have to be such that the lower rates of value added tax normally available for repair, servicing and improvements would not be available.

In order to qualify for a loan, the real estate cannot be leased as fully equipped or seasonally leased. PTZ+ is primarily intended for first-time buyers, but also for those who have not own their own home in the last two years. People with disabilities who are not gainfully employed and people whose homes have been devastated by a disaster are also entitled.

Up to 40% of the loan is granted for new properties in certain areas. In older properties it is lower. An interest-free hypothec can only be used in addition to a home loan. Levels vary depending on the number of households, the site of the building, whether it is new or already built, and how efficient the building is.

It is subdivided into different areas depending on the site, with the amount of the loan and the objects to be supported depending on the area. But if you're reasonably proficient in the English version of the law, you can use an officially licensed mortgagesimulator to see if you're authorized and how much you're up for.

No charges are associated with the granting of this hypothec. Check with your nearest francophone or other francophone financial institution. In the past, there have been two kinds of employer-related loan, either for the purpose of purchasing real estate or improving housing. This credit is known as the pre-action loan for buying a house, while that for DIY is known as the pre-trade loan.

Accordingly, the funds can only be used for the acquisition of real estate until further notice. 2. The loan, however, is not tied to a specific type of agreement and therefore does not have to be repaid if the worker abandons his work. Employees can choose to use all or part of the funds available to them for home purchase, construction or rental use.

There is no requirement for the provision of funds, although the loan may not be higher than 33% of your earnings. Prêt Action Logement is a supplementary loan to the main home loan, but can also be used to renovate an old house. Employers determine the amount that workers can lend, which must depend on their salary and may not be higher than 30% of the sale value of a real estate.

It has no transactions fees and no warranties are needed on the real estate. The term "social" credits is used to refer to pre-registration ("PC") or pre-registration ("PAS"). Mortgages are available for sale or building, refurbishment, extension, adjustment and saving electricity. Although the PAS has much in common, it is a demand-driven loan for the purpose of acquiring or improving a principal place of abode.

On the other side, the computer can also be used for the purchase or enhancement of real estate to be rented and there is no testing of ressources. As mentioned above, PAS loan eligibility (but not PAS ) is governed by higher incomes. This is your net salary as indicated in your personal return.

You must submit your most recent personal data from your home state if you have not yet completed your work. Up to 100% of the purchase and/or upgrade cost can be borne by the computer, while the PAS is restricted to 90%. An appraisal and evaluation of the real estate by an independant appraiser is absolutely necessary.

According to the standard of France, the interest on the loan will be increased by approximately +6% per year on a firm or floating base. It is higher than most ordinary mortgages. The use of this loan, however, gives the holder the right to receive accommodation subsidies named l'aide personalnalisée au logement and possible subsidies from the ANAH ( Swiss Accommodation Agency).

Of course, this means that if you successfully apply for a PAS, your mortgages will be cut by rent subsidies and you may also be entitled to subsidies for renovations! When you feel that you are entitled, you should consult your nearest ANIL branch or your nearest ANIL branch, the France Home Information Centre.

Two interest-bearing interest-bearing banks are available to provide mortgages. Those suspense account balances are referred to as Compte Épargne Logement/Plan Épargne Logement. Either account is probably of the greatest interest to those who are not in a hurry to get a home loan and are looking for personal assistance. It can also be used to help members of the household buy a home, although there are other ways that can be more productive and efficiently.

For more information on these savings account details, see Building savings account.