2023-10-21 04:00:05
Carrying out energy saving work is expensive; it often costs between 25,000 and 40,000 euros per home for an overall renovation, according to building professionals. Prices which are not within the reach of all co-owners. “The banks absolutely need to support us. Without them, energy renovation will be difficult to achieve”insists Danielle Dubrac, president of the Union of Real Estate Unions.
Few banks currently grant credit to co-ownerships. Deemed too complex and unprofitable, the latter were until now only practiced by the Caisse d’Epargne d’Ile-de-France, which extended its activity throughout France.
However, this market remains a niche. “In 2022, we have financed around two thousand co-ownerships”, indicates Christophe Berfini, director of trustee and property administrator activities at the Caisse d’Epargne d’Ile-de-France. More recently, the Crédit agricole de la Touraine et du Poitou branch has launched into this sector of activity in its region.
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However, the government wishes to develop the use of loans for co-ownerships. Emphasizing “the importance of opening this market to a greater number of financial players”, the Minister for Housing, Patrice Vergriete, announced, Thursday October 19, his intention to study “quickly create a new loan for co-ownerships”. A measure recommended in a report on the financing of the renovation of degraded condominiums, which was given to him the same day by the director of loans of the Bank of the Territories, Kosta Kastrinidis.
Wear rate
This would be a global loan covering the pre-financing of aid and the financing of the remainder. It would be transferable with the lot, upon sale, making it possible to distribute the burden between several generations of co-owners, not just the one who decides to undertake the work.
Another measure taken recently, to further encourage financial institutions to take an interest in co-ownership loans: at the beginning of the summer, the government has ensuredby a technical measure, that the credits granted to syndicates of co-owners are subject to the usury rate (maximum rate at which banks can lend) of consumer credits, rather than that of real estate loans, and the first is higher to the second.
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In practice, co-owners wishing to take out a loan today have two options. The first is the classic collective loan. How does it work ? “We lend to the co-owners’ union, therefore to the building as a whole”says M. Berfini. The principle of the loan is first voted on at the general meeting. Not all co-owners are obliged to borrow; Those interested have two months to come forward and sign up for the collective loan.
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