Do you want to insulate your home, replace windows with single glazing or change an oil boiler? Of course yes, but we know that energy renovation is expensive. However, what are called “thermal sieves” (or “energy sieves”), that is, these houses that consume a lot of heating and are very poorly insulated, are often owned by modest families, who do not have the means for financial funds necessary for a renovation. Fortunately, there is a new adapted aid, the Advance Loan for Restructuring (PAR), a system established in early 2022.
Nothing to be repaid before resale The advance loan for renovations is a mortgage loan that is finely repaid, that is, all at once, when the property is transferred (resale, inheritance, etc.). The loan is secured by a home mortgage coupled with a government guarantee covering 75% of the loan amount. It is granted subject to resources, to low and very low income families, whose resources are lower than or equal to the ceilings indicated in the following table (scale as of January 1, 2022):
Works taken into consideration
The advance loan for renovations is granted to finance works to improve the energy performance of homes, for example: • thermal insulation of roofs, walls, access doors to the outside
• interventions to replace the heating or domestic hot water production systems
• replacement of single-glazed windows with double-glazed windows. Please note that to benefit from the advance restructuring loan it is not possible to have the work carried out by a craftsman of your choice, it is imperative to contact a recognized professional environmental guarantor (RGE).
To find one, you can consult the list of qualified craftsmen approved by France-renov. gouv.fr
The restructuring advance loan can be obtained from a credit institution, a financial institution or a third-party financing company. Today three establishments offer it: La Banque Postale, Crédit Mutuel and CIC. The early restructuring loan being a mortgage loan, its amount depends on the value of the property and the age of the borrower at the time of signing. It is the financial institution that grants it that sets the maximum amount allocated. Although loan repayment is only required upon resale, it is obviously not free. Interest accrues monthly. The borrower can pay all at once at the end of the loan, simultaneously with the repayment of the principal, but can also opt for a progressive repayment of interest, agreeing a repayment period with the credit institution.
Stephane Dormeuil
