The Zero Rate Loan is an advantageous inspector for the subscriber of a mortgage. An inspector complementary to the main loan eligible for first-time buyers. But also, one of the conditions for obtaining the new zero-rate loan is the reference tax income of the household. Discover our focus on the new zero rate loan revisited for this year 2018!
What is the use of the zero interest loan?
The zero-rate loan represents a portion of a home loan with the purpose of financing the purchase of a principal residence. In other words, as mentioned in the introduction, it is a complement of inspector to the main mortgage.
It is characterized by a prior offer of inspector dissociated by a different contract number to the main loan. The portion of a home loan financed shares the zero rate loan at an interest rate of 0%. The zero interest loan has the advantage of reducing the total cost of the money borrowed. The borrowers only repay the borrowed capital.
zero rate loan is useful in the following cases :
- Buying a property in the new
- Home ownership in the former with works to be performed representing at least 25% of the amount financed.
- The purchase of a non-habitable or commercial building in order to transform it into a dwelling.
But also the loan at zero rate to the possibility of being paradoxically attached to the inspector of a construction or an acquisition of annex (parking space, etc.). Also anyone who is renting a social housing can also claim to benefit from the zero rate loan for the acquisition of his home. However there are conditions to respect and the operation is put in place to work the tenant’s social lessor.
What are the benefits of zero rate loan in 2018?
First, the zero-per-cent loan is in effect until the end of the year two thousand and twenty-one. The advantage for the government is that the zero rate loan favors the settlement of disproportionately large housing areas in terms of the number of inhabitants for the good functioning of the country’s economy.
For individuals, the new Zero + rate loan is the advantage of Inspector Bucketr part of their housing at cost price. However, the amount obtained differs according to the geographical area in which the property is located. One of the advantages of the zero rate loan is that there are no fees charged to the subscriber (s).
A functioning adapted to the repayment capacity of the borrowers. Through smoothing allowing debtors to amortize principal and interest on the principal loan. Then comes the amortization of the zero interest loan. This without having to increase the monthly payment of the mortgage! As a result, budget management is under control.