Eco Zero rate loan: what you need to know

Available since April 1, 2009, the Zero Rate Eco-loan will encourage homeowners to carry out work to reduce their CO2 emissions and energy costs. GoodRyt Lending discusses the advantages and disadvantages of this Zero Rate Eco Loan, a player in sustainable development.


Eco PTZ and its advantages

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First advantage, the zero rate eco loan is by definition a loan generating no loan interest. Second advantage, the eco PTZ is available without any resource conditions. Everyone can therefore benefit from it, regardless of the amount of their income. In addition, the repayment of this loan can be made over a period of 10 years (with monthly payments maximum of 250 dollars), and some banks also offer a repayment over 15 years. Finally, the Eco PTZ concerns significant sums since its maximum amount can reach up to 30,000 dollars borrowed at zero rate!


A Works Credit with some restrictions…

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On the other hand, the Eco PTZ only concerns dwellings built before January 1, 1990. It therefore has no use for owners who are building or planning to acquire new housing. On the other hand, the granting conditions oblige to carry out at least two categories of work: insulation of the roof, insulation of the facades (internal or external), replacement of windows, entrance doors and French windows, installation of an efficient heating or hot water production system (heat pump, condensing boiler, controlled by a programmer) and use of a renewable energy hot water generator (solar collectors). The final text of the law even added to this list at the last minute, work to rehabilitate non-collective sanitation systems by devices that do not consume energy.

Despite these few legislative limitations, the Zero Rate Eco Loan represents an opportunity for your customers all the more since the work concerned may have started since March 1, 2009. GoodRyt Lending advisers are at their disposal to advise them as best as possible with a view to quickly obtaining an ECO PTZ which will facilitate the implementation of all their projects.

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