Public services have deployed some devices to enable low-income households to become owners. Among them is the Social Accession Loan (SAP) which, like the loan agreement, allows to reach the APL to facilitate repayment of the loan. Presentation of the SSP, its beneficiaries and the amount they can claim.
What is the social housing loan?
Available from banks and financial institutions signatories of the agreement with the State , the Social Accession Loan (PAS) is used to acquire a principal residence . It can mean the purchase of an apartment or a house, in the new or the old, but also by the construction of a housing or the realization of works of improvement or energy saving of a minimum amount of € 4,000.
Beyond a few reductions of ancillary costs ( handling fees limited to 500 €, exemption from land registration tax, reduced notary fees), the main feature of the SAP is to allow the subscriber to benefit from the APL, while long repayment of this loan .
This allowance is paid systematically directly to the banking institution from which the beneficiary has taken out his loan. It is deducted from the amount of the loan’s monthly installment taken by the bank.
Its amount depends on the resources of the borrower. Its calculation method is complex and the ideal will be to use CAF online simulators.
Naturally, all these advantages involve a counterpart: the SAP is subject to conditions of resources …
Who can claim?
As the name suggests, SSP is intended to promote homeownership for people with modest incomes. The threshold not to be exceeded is set according to the reference tax income, the location and the composition of the family .
The geographic influence is based on the breakdown initiated by the so-called “Robien” rental investment scheme (revised since 2006, 2009 and 2014): A, B1, B2 and C taking the zones according to their local real estate market tension.
Thus, a family of 4 people wishing to benefit from the PAS can not have resources superior to 48 000 € in zone C (Guingamp), 54 000 € in zone B2 (Pornic), 60 000 € in zone B1 (Bordeaux ) and € 74,000 in zone A (Paris).
How much of the funding can it cover?
Like the loan agreement, the SAP can cover the entire financing , with the exception of notary fees.
In April 2017, the reference interest rate for this loan is 0.95%. On this basis, it is then necessary to add the margin of the banking establishments in the limit of these percentages: 3.25% for the loans with variable or fixed rate lower or equal to 12 years, 3.45% for a PAS of 12 to 15 years, 3.60% between 16 and 20 years and 3.70% for a loan of more than 20 years.
With historically low fixed rates, the borrower’s interest in seeking this type of financing lies in the comparison of the total costs of the respective credits by omitting the possibility for the SSP beneficiary to see his total cost of credit decreased. thanks to the benefit of the APL.
Finally, it can also be supplemented by other advantageous devices : the PTZ +, the PEL / CEL, the loan Action Housing, eco-PTZ under certain conditions, etc. By contrast, SSP can not be associated with a conventional home loan.
Note that the accumulation of several loans (PAS, PTZ … or even consumption) should encourage the borrower to consider smoothing the various monthly payments it supports. It is common sense in this configuration to use a broker to carry out this credit restructuring operation.