The Agreed Loan (PC) is a loan whose rate is capped. Unlike the Social Accession Loan (PAS), it is granted without means test by all financial institutions that have signed an agreement with the State. On the other hand, like the PAS, it entitles you to Personalized Housing Assistance (APL), which is conditioned by the income of the borrower (s). Zoom on the operating rules of this credit.
On what types of property can it be granted?
The Agreed Loan is a solution intended to finance the purchase of a main residence or a rental investment if, and only if, the tenant lives there at least 8 months in the year. Concretely, it is possible to subscribe to a PC for a house or an apartment, in the new or in the old, but also for construction.
This source of funding may also allow the realization of improvements, expansion, saving energy or adaptation to the needs of a disabled person in housing 10 years of age but also the purchase of ‘a terrain,
What are the constraints associated with the PC?
If the PC can facilitate access to the property, it still generates some constraints, as to the accommodation involved in the operation. It cannot become a professional or commercial premise, a second home, an accessory linked to a contract or be used as a furnished or seasonal rental, for a duration greater than 4 months per year.
An old property must also meet specific requirements :
– living space: 9 m² for one person and 16 m² for two. Then just add 9 m² for each additional person.
– habitability standards: in the case of work, they must be completed within 2 years. For accommodation over 20 years old, it must be approved by a professional, whose report will be annexed to the request for CP.
In addition, by taking out the Agreed Loan, the borrower (s) undertake (s), from the date of acquisition or end of work, to settle there within one year. Note that it is possible to postpone this move into 6 years if the property was purchased to retire there or to live there upon return from a French overseas department or overseas territory.
How much can the bank lend with the PC?
Subscribed for a period of between 5 and 35 years, the PC can cover the entire real estate transaction, with basic interest rates, controlled by the public authorities, to which the banks can add their margin. The latter representing the negotiation space, to play the game of the competition.
Today, this rate is higher than that of a conventional bank loan.
It retains its interest insofar as it allows reductions on the application fees and the inclusion in the credit transaction of the costs relating to construction operations (architect, design office costs) and the related taxes.
If necessary, the Agreed Loan can be supplemented by a PTZ, a Housing Savings Loan or Account, a Housing Action Loan (formerly 1% housing), a Loan for civil servants, but also, a subsidy from the ANAH (National Housing Agency), personalized housing assistance (APL) and an additional loan authorized for certain French returnees from overseas.
Please note, in all cases, the PC cannot be associated with a conventional mortgage!