All about funding opportunities building a house
Zero-rate loans (PTZ), subsidised rates, downpayments, bank loans... There are many ways to finance the construction of your home. Polimmo La Maison, a builder of detached houses in South Finistère, can guide you through the process.
Financing options for building in South Finistère
Here are a few explanations to help you find your way around the various funding schemes:
The zero-rate loan (PTZ)
This is the main scheme. Subject to certain conditions, it can finance up to 40% of the total cost of building a new home. To qualify, you must be buying for the first time, and the property must be your principal residence. There is also a ceiling on resources, depending on the number of people in the household.
Subsidised interest rates on home loans
If your budget is insufficient, you can apply for a supplementary property loan/credit, with preferential interest rates. Of course, this is subject to your borrower profile and the nature of your project meeting certain criteria.
Another interesting fact: thanks to the Hamon law, you can change your borrower's insurance on a traditional loan twelve months after signing the contract. This gives you the chance to make some savings.
Finally, if you are an employee of a company with at least 10 employees, you can take out a Prêt Action Logement (PAL), which offers preferential, subsidised rates (1%).
Social Accession Loan (PAS)
This loan is aimed at people on modest incomes. However, you need to choose a lending institution that has signed an agreement with the government. Don't hesitate to ask, as this scheme can sometimes cover the entire cost of your home.
Exemption from property tax
You may be exempt from council tax for two years after you move in. Ask your local council to examine your case.