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When you open a PEL (Housing Savings Plan) or a CEL (Housing Savings Account) at the bank, you can then obtain a beneficial mortgage to finance your real estate project. Decryption of the home savings loan.

How does the home savings loan work?

The housing savings loan is part of the mortgage loans. The only condition to qualify for this is to have a Housing Savings Plan (PEL) or a Housing Savings Account (CEL).

Housing savings loan only concerns your primary residence if you opened one of the two accounts listed above after March 1, 2011. If you opened an ELP or CEL before that date, your loan may be used for a second home. With a housing savings loan, you can build, buy or renovate your home.

The amount you are granted for your home savings loan depends on the savings you have placed on your ELP or CEL. The more interest you have as a result of your savings, the larger the loan amount can be.

What to choose between PEL and CEL?

Unlike the ELP, opening a CEL entitles you to more attractive interest rates at the time of home savings loan. On the other hand, the ceiling of the CEL is lower than that of the ELP, and the interests of savings are lower.

The maximum amount that can be borrowed following the opening of a CEL is less than for an ELP. This is why the housing savings loan with a CEL is rather used to carry out work.

What are the advantages of the home savings loan?

The main advantage of the home savings loan is to take advantage of lower interests than a standard home loan. Furthermore, you do not pay a processing fee and the warranty fee is lower. You can accumulate your housing savings loan with any other mortgage (bridge loan, standard loan, PTZ +,...). In case of early repayment, you generally do not have any refund penalties.

By subscribing to a housing savings loan, you receive a bonuscalled home savings premium. If your loan allows you to build or buy a home with good energy performance, your premium may be higher than average.


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