GUEST RTL – Real estate loan: loan with zero rate extended and expanded, Bruno Le Maire announces

Lightening up for buyers as mortgage rates rise? Economy Minister Bruno Le Maire announced this morning to RTL the extension of the so-called “PTZ” system, loans with zero interest. It allows an individual to get a portion of their loan without the slightest interest, subject to means testing. Originally, this state support was supposed to stop at the end of this year in order to save money, but the impending real estate crisis changed the government’s plans. “It’s getting longer because there’s a real estate credit collapse and we want as many households as possible to have access to a mortgage loan, and that is extremely difficult today with rising rates,” the economy minister explained on RTL this Wednesday, October 18.

In addition, “the maximum amount of the zero-rate loan will increase from 80,000 to 100,000 euros”, announces Bruno Le Maire. “3. improvement, the share of this loan with a zero rate on the loan agreed with the bank was 40% for low-income households, it will increase to 50%,” continues the minister.

The income scale eligible for this support has been completely revised. “We increased the ranges of the first 3 tranches, the most assisted, and added a 4th,” explains the technician from Bercy, who estimates the number of eligible French people at 29 million, up from 23 million today.

Refocusing and expanding

In detail, there will now be an income ceiling for one person 49,000 euros for the tightest areas and even up to 74,000 euros for a couple without children. “Now the upper middle class is eligible,” continues the Berca source, who will cover 20% of the interest on the loan.

The ceiling has also been increased for low incomes, a couple with a child earning up to 45,000 euros a year will now be able to get up to half of their loan without the slightest interest, which is enough to save 33,000 euros, depending on the Ministry of Economy.

Finally, this “PTZ” is reoriented to certain properties: new apartments in tense areas and old housing with reconstruction in non-tension areas. This only applies to first-time buyers, those who buy their first property, “around 40,000 homes” in 2024, according to Berca’s forecasts. Bruno Le Maire finally hinted at it 210 other cities will be eligible for this zero-interest loansuch as Bordeaux, Le Mans, Auxerre or even Bidart.

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