La Banque Postale is launching loans called Avance Rénovation, a loan scheme guaranteed by the State for people on low incomes who own their homes.
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Today in France there are nearly five million homes considered to be “thermal sieves”, that is to say poorly insulated and which are a real money pit for households. The particularly sensitive issue at a time when energy prices are soaring. This is a loan reserved for households and some senior citizens, the elders who own their main residence.
The method of allocation takes into account a series of criteria related to income but also to the debt capacity of the applicant households). This loan is offered at a fixed rate of 2% and cannot exceed 70% of the value of the property before work. Example: work that amounts to 10,000 euros, and which already benefits from 80% of various aids, will be able to take advantage of this Avance Rénovation loan up to 2,000 euros. The real objective is to help the households concerned finance “the rest to pay” renovation work on the main habitat, that is to say what remains to be paid after the subsidies already granted such as MaPrimeRénov, of which 660,000 are already beneficiaries.
The repayment of this Avance Rénovation loan is advantageous: only the interest is to be paid immediately. The capital – the money provided by the banking institution – is refundable when the property or estate is resold. The State guarantees this system and will cover households in the event of payment default. The various tools put in place to fight against housing considered as thermal sieves amount to 6.7 billion euros. This amount corresponds to the overall amount of the ecological transition support component included in the recovery plan decided during the pandemic. In addition to Banque Postale, Crédit Mutuel is also involved in this adventure. The other networks should soon follow.