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0% loan / mortgage - doing up the house


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I have heard about a 0% loan / mortgage to do up a house. does anyone know the full criteria for this.if there are any french forums about loans and mortgages this would be useful to have too. please note we are bilingual. the alternative is a loan so far with abbey (which is actually UCB doing the loan) at about 4.85% on a self employed basis. thanks in advance.
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  • 5 weeks later...

Montant du prêt à O% ( plafonné à 20 % du montant de l'opération et 50 % du montant total des prêts complémentaires


I don't know whether you realised but this means that the amount you can have will be limited and is means tested, they will want to see your tax form too.

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  • 3 weeks later...


The original poster is currently under investigation by the forum administrators.  She is believed to be collecting research material to establish a commercial web based consultancy using different user names to disguise her purpose.  Many members have given time and effort to provide answers to what they believed were genuine enquiries, so you won't be surprised to find some responses which are of a somewhat brusque nature.

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I think maybe Searcher30 is spending time at a "Living Poland" forum, judging by this recent post at Moneysavingexpert (on behalf of a friend, you understand):

"i remember reading something about investment in eastern europe on this site. A friend of mine is thinking of maybe buying property to live in in eastern europe somewhere - one of the new countries within europe such as poland, estonia, lithuania etc. however he is not sure what would be the best for quality of life, price of houses etc. he believes that life over there may be cheaper for most things ( i believe this to be true of food and maybe diesel and property prices but not sure that over things are). would anyone have any idea and maybe this could help others looking into going into these countries possibly? thanks in advance"


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The loan with 0%

Various types of loan on real property   

This loan can be allotted to you only if you were not owner of your main home during two years previous (except for certain cases of professional mobility). It relates to the acquisition of the main home of the borrower, who must answer one of the two following criteria:
new dwelling or construction
quite old of more than 20 years requiring a minimum of work of 54% of the price of acquisition, that is to say 35% of the total amount of the expenditure
The amount of this loan cannot exceed:
20% of the amount of the operation
50% of the amount other loans contributing to its financing.
To profit from this loan, your assessed income after abatements for the year N2 must be lower than a ceiling, given according to and the geographical situation family structure of acquisition (Island of France or Province).
CAUTION: It is obligatory to be able to present a personal opinion of imposition for the year N2. Any person for example attached to the tax hearth of her N2 parents, cannot claim with the granting of a loan with 0%.
The methods of refunding of this loan depend on the level of the taxable incomes Nets (after the 10 and 20% abatements) being reproduced on your opinion of imposition of the year N2: least low incomes profit from the longest durations of refunding and one period from differed.
The taxable incomes Nets N2 of the household must be lower or equal to the amounts below:

A number of people composing the household
Place of acquisition12345 and more
Island of France22.10528.41731.57234.72837.884
Assembling loan with O% (reached a maximum at 20% of the amount from the operation and 50% of the total amount of the complementary loans):

A number of people composing the household
Place of acquisition123456 and more
Island of France15.24521.34322.86724.39225.91627.441
Methods of refunding according to the taxable income Net N2:
< or = 12.638 €:
Differed on 100% from the capital, maximum 186 months
Then refunding of 100% of the capital over 48 months

Total duration: 234 months
> 12.638 € and < or = 15.794 €:
Refunding of 25% of the capital over 186 months
Then refunding of 75% of the capital over 36 months

Total duration: 222 months
> 15.794 € and < or = 18.950 €:
Refunding of 50% of the capital over 186 months
Then refunding of 50% of the capital over 24 months

Total duration: 210 months
> 18.950 € and < or = 22.105 €:
Refunding of totality over 186 months
> 22.105 € and < or = 25.260 €:
Refunding of totality over 162 months
> 25.260 € and < or = 28.417 €
Refunding of totality over 120 months
> 28.417 €:
Refunding of totality over 84 months
NB: When it exists, the period of differed must be equal to the duration of the complementary loan longest, within limit the 84 months minimum and 186 months maximum. On the request express of the borrower, this period can be reduced until even a 84 months minimum in the event of longer complementary loan
The period of differed being able to be only 186 months maximum, attention if you subscribe a loan complementary to one higher duration, for example over 20 years: indeed, that will involve a superposition of the loads of refunding of the loan with 0% and complementary loan between the 186ème month and the end of the twentieth year, which it will be necessary that you can assume in treasury. However it is difficult to envisage the capacity of refunding which our wages will allow us in 15 years… Mieux is thus worth, as far as possible, to choose a complementary loan over one duration lower than 186 months or to consider a system of smoothing.
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I guess things can be different depending on the bank.  We

obtained a 100% 15 year mortgage with Credit Agricole Alpes

Provence.  They didn't even bat an eye.  Wanted our tax

return and that was it.

We had heard that this was impossible, but for us, nothing could have

been easier.  We used our downpayment money for renovation work -

but the bank never asked us the condition of the house.  

Loan seemed only related to household income.

Worked for us, not sure how other banks operate.  Have even heard

that OUR bank isn't always that forthcoming with 100% loans - so it

really seems to vary.

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Wasn't the upshot of this was that the poster had his/ her membership revoked unless they could show the Mods a genuine reason for asking so many questions of this nature? 

I am sure that I read something to that effect not that long ago.

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