Subject to publication by the French government, this new mortgage plan comes into effect on January 1, 2011. A key feature of the 2011 Finance Law, the plan simplifies and replaces prior mortgage programs:
- Tax incentives included in France’s TEPA law
- The Pass Foncier® financing solution
- The amended version of the interest-free loan
About PTZ+
PTZ+ is a zero-interest government loan available through banks. In addition to being interest free, the loan can be repaid over time.
PTZ+ is being offered to all first-time homebuyers REGARDLESS OF THEIR INCOME. (A first-time homebuyer is someone who has not owned a principal residence in the two-year period ending on the date of home purchase.)
Terms
The amount of the PTZ+ depends on:
- Household makeup
- Geographical location (4 zones: A, B1, B2, C)
- Type of home (new or old)
- The home’s energy-efficiency rating
Energy ratings for new homes are based on French BBC guidelines. Energy ratings for old homes (A, B, C or D) are based on an inspection by a certified agency (Diagnostique de Performance Energétique).
PTZ+ is a supplementary home mortgage that may be combined with other loans, including preferential-rate government loans, subsidized loans, home savings loans, 1% employer loans, social loans and traditional bank loans.
PTZ+ may not exceed the total amount of the other loan(s) or a certain percentage of the cost of the transaction.
This percentage depends on:
- Type of new home (new or old)
- Geographical location
- The home’s energy-efficiency rating
Maximum threshold per type of transaction
|
ZONE
|
BBC
|
NON-BBC
|
| A |
40% |
27% |
| B1 |
35% |
22% |
| B2 |
30% |
17% |
| C |
25% |
15% |