The zero-rate works loan, or eco-PTZ, is all the rage. Extended at least until 2021, this interest-free works loan promotes the completion of work related to the energy transition. Granted by the banks, it saw its conditions change on July 1, 2019. Good news for those interested, its conditions are even more flexible than before. Update on the current PTZ 2019, and focus on what has changed in recent days.
What is eco-PTZ?
The PTZ, or eco-loan for works, allows borrowing at zero rate for its works linked to the energy transition. Here are its basic features:
- Amount: $ 10,000 to $ 30,000
- Issued by banks
- Intended to finance energy renovation works
- Duration of the works credit: up to 15 years in certain cases
What works are concerned?
Here are the bouquets eligible for eco-PTZ:
- Roof insulation (see roofing credit)
- Insulation of walls facing outwards
- Replacement or insulation of heating or domestic hot water production
- Insulation of doors and windows to the outside
- Installation of heating using renewable energy
- Insulation of low floors (since July 1, 2019)
These works must be carried out by a RGE professional (recognized as guarantor of the environment). The amount of the eco-PTZ 2019 is capped at 10,000 USD if only one category of work is concerned, $ 20,000 for two and $ 30,000 for a package of three works.
For any other type of work loan, or to carry out operations without going through a professional EGR, you should know that the rates for conventional work loan are currently at the lowest.
PTZ 2019: changes on July 1
The PTZ was previously reserved for accommodation completed before 1990, considerably limiting the number of requests. Here are the changes applied as of July 1, 2019:
- Applicable to all dwellings completed more than 2 years ago.
- Implementation of the PTZ 2019 for insulation work on low floors.
- Repayment fixed at 15 years, with possibility of early repayment.
- Possibility of requesting another eco-PTZ for the same accommodation for 5 years, provided that the sum of the two does not exceed $ 30,000.
To find out all about the eligible works and the associated conditions: eco-PTZ guide 2019 from Ademe.