Zero-interest loan opened to purchases of older homes with renovation work in certain rural municipalities

Article 59 of the 2015 Finance Act amends the zero-interest loan (PTZ): for an older home, the loan may be granted, besides sales of social housing to its occupants, subject to renovation work in municipalities outside urban areas of at least 10,000 inhabitants, with a housing vacancy rate above the national average and a minimum number of facilities; the list is set by order. Improvement work must account for a share of the total cost set by decree between 20% and 30%, and be completed within three years. The ceiling on the tax credit granted to banks is raised from €820m to €1bn. It applies to loan offers issued from 1 January 2015 (Decree No. 2014-1744 of 30 December 2014).