The PASS-FONCIER® - 29 July 2010

• The PASS-FONCIER® for new houses, where the land is purchased separately from the property 
  
  
  • The “1% Logement” scheme buys the land on your behalf and makes it available to you to build your house under a construction lease (bail à construction).
    The period of this lease must be between 18 and 25 years (the lease period may not be less than that of the longest loan obtained to fund the purchase of the completed property)
     
  • The amount of the PASS FONCIER® is equivalent to the price of the land, subject to a maximum limit that varies from zone to zone:

• • In the first stage, you repay only the house purchase loans. In most cases, these will be bank loans arranged under normal conditions, supplemented (where maximum income limits are not exceeded) by a 0% loan or Social Housing Loan (PAS).
    In the second stage, you buy the land on expiry of the construction lease period.
     
  • The selling price of the land will be equivalent to the original price, indexed annually throughout the period as follows: for those working in industries covered by the Participation des Employeurs à l’Effort de Construction (the 1% housing scheme), the indexation rate is 1.5%. For other households, the indexation rate is the inflation rate within a band from 2% to 4.5%.
    If you are unable to buy the land at the relevant time, it is possible to extend the construction lease for 15 years. Where this is the case, you remain the tenant of the land, but you must pay a rent supplement equivalent to the monthly repayment on a loan contracted at the best market rate over a maximum period of 15 years for a principal amount equivalent to the original cost of the land plus indexation.
     
  
  
   
• The PASS-FONCIER® deferred repayment loan for all new homes, whether houses or apartments.
  
  
  • This loan is in addition to your other loans. The amount of the loan is equivalent to 30% of the transaction cost (excluding legal fees) up to a maximum level that depends on the location of the property. These upper limits are as follows:

* Click here to view the eligible zones

• The PASS FONCIER® allows you to buy your home in 2 stages, whereas the PASS FONCIER® loan lets you defer the repayment of your loan: whichever route you choose, this scheme gives you the opportunity to reduce your monthly repayments substantially.
  
  
• You also benefit from a reduced VAT (Value Added Tax) rate of 5.5% instead of the standard 19.6% on the purchase of the land and the construction process under the PASS-FONCIER construction lease and on the property purchase under the PASS-FONCIER loan.
  
  
• If unforeseen circumstances prevent you from making your repayments, the 1% housing scheme can, if you wish, purchase your home and take responsibility for rehousing you.
  
  
• If repayments of the main property construction loan fall into arrears of over 3 months, PASS-FONCIER® beneficiaries are covered by two guarantees (applicable under the construction lease:
  • a guarantee that the property will be bought back by any legal entity designated by the CIL under the same conditions as those set for the PSLA* (during the first five years, the guaranteed price is the price that the household itself paid for the property; this price is reduced by 2.5% per year in subsequent years) ; 
  • a guarantee of rehousing if it is not possible for the household to remain.
  
  
  
• • You can also benefit from:
  • a double 0% loan which may be increased by between €10,000 and €15,000 (subject to household income)
  • a  Prêt à l'Accession Sociale (PAS) social housing loan granting entitlement to receive the Aide Personnalisée au Logement (APL) personal housing grant that can be used to meet part of your repayments.
    
    

^*PSLA : Prêt Social Location Accession (housing loan for first-time buyers) 

The PASS FONCIER® allows you to fund the purchase of a new home as long as you have not been a homeowner during the previous two years. To qualify, you must already be in receipt of social property ownership access support from one or more local authorities (communes, intercommunalités, départements or régions).

Lastly, the PASS-FONCIER® is intended for applicants whose income falls below the upper limits set by the 0% housing loan.

Upper income limits at 9 April 2009

 ^* Click here to view the eligible zones >>

Le logement doit être un logement neuf (achevé depuis moins de 5 ans) et construit ou acquis en vue de sa première occupation.

Le prix de vente du logement doit être plafonné^* dans les conditions suivantes (En application de l’article 52 III de la loi n°2009-323,) :

^* Ces plafonds sont issus de l’arrêté du 7 avril 2009 et sont applicables aux logements ayant fait l’objet d’une demande de permis de construire à compter du 28 mars 2009.