In the already huge family of subsidies for the energy requalification of housing, a newcomer has recently been added to the catalog: the early restructuring loan. Its goal: to allow families who do not necessarily have the means to carry out important jobs without having to pay expensive monthly mortgage payments. We tell you everything …
Borrow now, pay back later
Financing your energy redevelopment project through a specific credit has long been possible thanks to the zero-interest eco-loan, known as eco-PTZ. So why create a second competing product? The answer is in a nutshell: deferred repayment. In fact, if the eco-PTZ allows you to get up to € 50,000 without interest, you must still be able to take on the monthly installments of this loan every month.
The new advance restructuring loan then offers an interesting alternative as the amount granted will have to be repaid only on the occasion of the subsequent sale of the property or its transmission as part of an inheritance, without any maximum term being imposed. However, lenders are not philanthropic for all of this! Indeed, in exchange for this deferred repayment, this loan is accompanied by a mortgage on the housing concerned.
The state as guarantor
It was the Climate and Resilience Law of 22 August 2021 that made the creation of this new financial product possible, inspired by the old loan advance loan, established a few years ago but little used for guarantees deemed insufficient by credit institutions. To avoid the same trap, the legislator has therefore put in place several safety locks this time.
In addition to the mortgage applied to the home, the State therefore undertakes to guarantee 75% of the loan amount, in order to compensate for any eventual loss of value of the property on the occasion of its subsequent sale.
In fact, if carrying out major energy redevelopment works can only increase the value of the house, no one knows what the state of the market will be ten, fifteen or twenty years later, when the family decides to separate from it. be transferred as part of the assets. If the transfer price does not allow the loan to be repaid in full, the State will then cover the difference.
Restrictive access conditions
Given its condition, it is not surprising that the restructuring upfront loan is reserved for a specific audience. This financial product, in fact, is intended for owners with modest incomes who employ thermal colanders and who are often excluded from conventional bank loans. It is therefore a new weapon in the renovation of housing classified F or G, thanks to the financing of insulation and heating works.
In terms of resources, a single person must have a tax reference income of less than € 19,565 (€ 25,714 in Île-de-France), against a ceiling of € 28,614 for a couple (€ 37,739 in Île-de -France) and € 40,201 for a family of four (€ 52,925 in Île-de-France).
The amount granted and the interest rate applied are instead left to the free choice of partner banking institutions. Keep in mind, however, that Crédit Mutuel and the Postal Bank already market this advance restructuring loan at a rate of 2% and up to € 30,000. The conditions vary according to the age of the borrower and the appraised value of the property.
Focus: having a long-term view
The new advance loan for the renovation can obviously be combined with other aid to work such as MaPrimeRénov, premiums for energy savings certificates, local subsidies and even the zero-interest eco-loan since the goal is to have nothing to pay at the time of construction.
However, before signing the bank offer, think carefully about the consequences of your decision! If you don’t pay now, the loan amount will be withdrawn later. In fact, it will therefore reduce the amount pocketed during the sale by the same amount, not to be forgotten when calculating a new real estate purchase, or it will reduce your inheritance in the event of succession.
To the extent of your means, it is also much wiser to just postpone the repayment of the principal and pay monthly interest payments (called partial deferral). If, on the other hand, you delay both (full extension), they will accumulate to the point of significantly increasing the final amount to be paid during the sale!
