The majority of our partner banks have decided to stop studying the files of borrowers eligible for the Zero Rate Loan.
The Zero Rate Loan is a state-assisted loan that allows prospective purchasers to buy a home provided that they have not owned their principal residence in the past 2 years and are means tested.
The amount of the PTZ depends on the geographical area of the place of purchase. The 0% loan can only finance part of the purchase, the financing of the project must be supplemented by one or more loans and possibly a personal contribution. Housing must be new or old with work.
As every year, in mid-November, banks block the financing of operations benefiting from a zero interest loan. In fact, the red tape involved in setting up the zero-rate loan is forcing banks to refuse to take over these files after that date.
This decision ensures qualitative support and ensures the smooth completion of ongoing operations.
The PTZ case studies will resume as of January 15, 2017. The time for banks to update their computer software with the new loan standards at 0% (the conditions for granting the PTZ change on January 1 of each year ). “Borrowers are attentive, which is valid in 2016 may not be more in 2017 and vice versa” advises Honest lender.
Be aware that some so-called specialized banks can still agree to finance loans at 0% until the end of the year. However, it is imperative that the loan offers be published by 31/12/2016 at the latest.