Zero Rate Loan (PTZ): identical extension until the end of 2023

PTZ postponed until the end of 2023

The Zero Rate Loan system will not change until the end of 2023. Announced a few days ago, this news will be ratified next month with the publication of a specific amendment. What first-time buyers feared was a change in the conditions of application of the PTZ. But it will not be. The government is well aware that the year 2022 will be a period of transition for the real estate market. The probable rise in interest rates, combined with the applicable regulations governing the granting conditions for real estate loans, should significantly lower the level of the current real estate bubble.

Cancellation of the change in the recognition of income

The government wants to change the conditions for granting PTZ. To date, the income considered for the PTZ allowance is that of year N-2 (Reference Tax Income – RFR). In order to no longer “offer” the PTZ to households whose income has increased significantly over the past two years, the income taken into account for the PTZ should have been those of the current year. Two arguments militated for this change:

  1. the main loan offer is based on current income and not that of year N-2, a certain consistency would then be provided,
  2. the households most strongly affected by the crisis saw their incomes drop, the PTZ, intended for the most modest, must therefore take into account the decreases in incomes and not favor the increases.
    But the government therefore did an about-face, and this change in the way income is taken into account will not take place on the PTZ until the end of 2023.

We will extend it well until the end of 2023. We had envisaged a reform in which we would change the way in which resources are taken into account since it depends on the resources of families. To use resources in real time, it is very complex to carry out so we will not do it on January 1, 2022. It is maintained as is until the end of 2023 “, Thus indicated on October 6 Emmanuelle Wargon to BFM Business.

An amendment tabled next month

An amendment will be tabled to this effect on November 6, in the second part of the finance bill for 2022, the ministry press relations tell us. ” The PTZ is an important device to support homeownership, which benefits around 100,000 households each year “, Justifies the ministry. With the exception of last year marked by the health crisis. In 2020, the production of PTZ amounted to nearly 67,000 loans, down 28% over one year, according to the balance sheet of the Company for the Management of Financing and the Guarantee of Social Home Ownership. (SGFGAS) which manages the PTZ on behalf of the State.

PTZ: Up to 40% of the operation funded at 0%

As a reminder, the PTZ is a device which allows first-time buyers to obtain a 0% mortgage, under conditions of resources, in addition to a traditional bank loan. It is intended primarily for purchase in new buildings in tense areas marked by a housing deficit and upward pressure on property prices.

In Lille, for example, the price of a 3-room apartment has jumped 15% over the last six months, according to a study published in early October by Borrowed in partnership with the portal. In Paris, the increase for this type of property is estimated at more than 8%. In these tense agglomerations, the PTZ can cover up to 40% of the cost of acquiring new housing. In contrast, in rural areas and medium-sized towns, the zero-interest loan is capped at 20% in new buildings. In these territories where the demand for housing is less strong, priority is given to the renovation of old properties with a PTZ of up to 40% of the operation.

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Zero Rate Loan (PTZ): identical extension until the end of 2023

Hank Gilbert