Would you like to take out a mortgage with the CIC group? This banking network has an agreement to offer its eligible customers partial financing in the form of a zero-rate loan, or “PTZ”. What is it about ? Why is it wise to include this device in your financing plan? The complete update on the PTZ of the CIC with the ferrets!
What is a zero rate loan?
The zero-rate loan or PTZ is a device designed to allow low-income households easier access to the purchase of their principal residence. It constitutes an envelope in addition to a main mortgage, allocated to the borrower without any reimbursement of interest.
The zero rate loan has a number of unique features:
- The repayment period of a PTZ is variable, it can be adjusted to the financial means of the household. It reaches 25 years at the most;
- In any case, the borrower does not immediately begin to repay this loan: the PTZ is accompanied by a deferred period of between 5 and 15 years . Initially, the beneficiary therefore only repays his main loan;
- The maximum amount of the zero-rate loan reaches 40% of the total financing of the property (only for the most modest households).
It is possible to benefit from a PTZ at the same time:
- To acquire a new property anywhere in France;
- To acquire an old property, only in zones B2 and C, subject to dedicating at least 25% of the amount to renovation work.
The eligibility conditions of the PTZ to the CIC
CIC is one of the major French banking networks authorized to distribute zero-rate loans. As such, the establishment has an agreement signed with the public authorities. However, the allocation of a PTZ is not a right for CIC customers. Certain prerequisites must be met :
- The applicant must not have owned his main residence during the two years preceding the PTZ application. This condition is mainly intended to support first-time buyers, i.e. people buying their first main residence ;
- Housing financed by the PTZ must be intended to become the principal residence of the borrower. The accommodation may not be used for rental investment or secondary residence purposes;
- The PTZ must be supplemented by another home loan contracted with the same approved financial institution. You will therefore have to take out a mortgage with the CIC;
- The PTZ is subject to resource ceilings, which may themselves vary depending on the location of the accommodation, the composition of the household.
Are you eligible for a zero rate loan at CIC? The conditions of resources are fixed by regulatory texts, they are therefore the same in all banks. Here is a summary of the applicable thresholds in 2023:
| Number of occupants of the accommodation | Zone A bis et A | Zone B1 | Zone B2 | Zone C |
|---|---|---|---|---|
| 1 | 37 000 € | 30 000 € | 27 000 € | 24 000 € |
| 2 | 51 800 € | 42 000 € | 37 800 € | 33 600 € |
| 3 | 62 900 € | 51 000 € | 45 900 € | 40 800 € |
| 4 | 74 000 € | 60 000 € | 54 000 € | 48 000 € |
| 5 | 85 100 € | 69 000 € | 62 100 € | 55 200 € |
| 6 | 96 200 € | 78 000 € | 70 200 € | 62 400 € |
| 7 | 107 300 € | 87 000 € | 78 300 € | 69 600 € |
| From 8 | 118 400 € | 96 000 € | 86 400 € | 76 800 € |
How much for a PTZ at the CIC?
There is no predetermined amount for a zero rate loan. The amount lent depends on several complex criteria, related to the level of income of the borrower, the geographical area or the type of property financed. Here is, for information, the maximum amount of the PTZ at the present time according to the area of residence and the number of people in your household:
| Number of occupants of the accommodation | Zone A | Zone B1 | Zone B2 | Zone C |
|---|---|---|---|---|
| 1 | 150 000 € | 135 000 € | 110 000 € | 100 000 € |
| 2 | 210 000 € | 189 000 € | 154 000 € | 140 000 € |
| 3 | 255 000 € | 230 000 € | 187 000 € | 170 000 € |
| 4 | 300 000 € | 270 000 € | 220 000 € | 200 000 € |
| 5 and more | 345 000 € | 311 000 € | 253 000 € | 230 000 € |
How to obtain a zero rate loan from CIC?
To obtain a zero-rate loan (PTZ) from the CIC, several solutions are available depending on your relationship with the bank:
If you are already a CIC client, you can make an appointment with your adviser, either physically in a branch or by telephone. During this appointment, you can discuss the PTZ, get detailed information and even request a simulation . Your advisor will be able to assess your eligibility and support you in the process.
Otherwise, you also have several options for applying for a zero interest loan. In particular, it is possible:
- To go to the CIC agency closest to you to request an appointment with an adviser;
- To contact a CIC agency by telephone to ask to speak to an advisor specializing in mortgages and PTZ;
- Fill out a specific contact form on the CIC group’s web platform
After submitting your application, a CIC advisor will analyze your situation to assess your eligibility. The bank is not obliged to accept the request for PTZ, because it is subject to specific criteria but also to the appreciation of the bank.
Simulate your future PTZ with lesferets
Why wait for the CIC group’s response to assess your eligibility for a zero-rate loan? A simple consultation of the lesfurets PTZ simulator will give you an initial estimate of your financing in just a few minutes! In particular, you will be able to determine whether your household’s income level can give you access to this very advantageous additional financing.
