Zero-rate employee credit
The zero-rated credit is available to public servants and other plan members. On the other hand, it is reserved for first-time buyers. Public servants can take out a zero rate credit to access the property. Advantageous, the 2016 is accompanied by a deferred refund of 5 to 15 years depending on the case and its interests are covered by the State. Reserved for first-time buyers, this free credit has many advantages.
Free credit for education officials
2016 should not be confused with the free credit that was granted to a specific category of public servants.
Some teachers and contract teachers in private schools have been offered a special zero-rate credit in the event of occupational mobility or when they are set up on the occasion of their first assignment.
This free credit is no longer in effect since February 2011.
However, regardless of the administration on which they depend, all civil servants may subscribe to the same terms as the other plans.
The version 2016
2016 does not provide specific conditions for civil servants. This new zero rate loan is a regulatory scheme whose conditions for granting have been relaxed by the government. Its purpose is to enable the most modest households to become owners of their housing under certain conditions, which are more advantageous than they were before.
It is possible to cumulate personal contribution, mortgage, supplementary loan, and within the limit of the borrowing capacity of the buyer.
Its greatest asset lies in the fact that only the borrowed capital is at the expense of the borrower, whether he is a civil servant or not. Credit interest is paid by the state. However, this lever to the accession does not allow, alone, Adam Beder the totality of the price of a housing.
Also, is it necessary for the first time buyer:
- to have a personal contribution;
- to take out another mortgage.
- to take out a supplementary loan.
Free credit for homeownership
Although 2016 has been set up to enable the most modest to gain ownership, 2016 is now accessible to a larger number of households, with its resource ceiling largely revised upwards.
In addition, before 2016 the zero-rate credit was granted only for the acquisition of certain dwellings located in 6,000 well-defined communes.
2016 now concerns all municipalities in France, divided by geographical area.
This zoning, as well as the income of the home acquiring the property, make it possible to determine the various ceilings of resources.
Characteristics of the 0% loan
Whether the purchaser is a public servant or not, he can apply for zero-rated credit to his bank to verify his eligibility.
The main features of this interest-free credit are:
- housing built or to be built must meet ecological requirements (BBC, RT 2012), and old housing must require major improvement or development work;
- it is reserved for first-time buyers and certain borrowers in clearly defined exceptional situations;
- the amount of the loan may, depending on the composition of the home and the area where the dwelling is installed, reach a maximum of € 138,000;
- it is accompanied by a deferred repayment of 5 to 15 years depending on the composition of the home.
It is true that public servants can inquire of their mutual or other dedicated bodies as to whether a credit without interest may be granted. But this type of zero-rated public servant loan is far less common today. The privileges that may be granted to them reside in free application fees, the exemption of certain supporting documents and sometimes a less expensive insurance.