top cx logo
cx logo
Explorearrow down
search icon
arrow down

Renovation loans 'too complicated'

Ecology minister Nathalie Kosciusko-Morizet wants to rethink the concept

ALTHOUGH around 160,000 zero-interest éco-prêt à taux zéro loans have already been signed ecology minister Nathalie Kosciusko-Morizet says it is not enough and she wants to rethink the concept.

She said the zero-interest loans had not reached the expected figure of 200,000 borrowers by the end of 2010.

They had been counting on 400,000 in 2012 as part of a rolling programme of house improvements that would see 400,000 home renovations a year starting from 2013 with the aim of cutting total emissions of CO2 greenhouse gas.

The 26 million main homes in France account for 30 per cent of the country’s energy consumption and 21 per cent of CO2 emissions.

Ms Kosciusko-Morizet said the present éco-PTZ, introduced in April 2009, was too complicated for the banks who deal with it.

However, the effects of the financial crisis are being also blamed for the low take-up with people hesitating before signing for new credit deals to put in new eco-friendly measures to their homes, even at zero per cent interest.

Despite it being one of the key measures in the Grenelle de l'Environnement agreement she said the éco-PTZ needed a change, although she did not say what she was thinking.

Shared-ownership pressure group Association des Responsables de Copropriétés, who represent people in buildings such as apartment blocks, has suggested one change. It called for the éco-PTZ to be available to groups of owners so they can make major changes.

Despite the setback, Ms Kosciusko-Morizet said 2011 would be a “year of solutions” for the environmental ministry. It marked the year the Grenelle came of age: “I am
convinced the Grenelle is a programme that is positively transforming our society.”

Resident or second-home owner in France?
Benefit from our daily digest of headlines and how-to's to help you make the most of life in France
By joining the newsletter, you agree to our Terms & Conditions and Privacy Policy
See more popular articles
The Connexion Help Guides
featured helpguide
Healthcare in France*
Featured Help Guide
- Understand the French healthcare system, how you access it and how you are reimbursed - Useful if you are new to the French healthcare system or want a more in-depth understanding - Reader question and answer section Aimed at non-French nationals living here, the guide gives an overview of what you are (and are not) covered for. There is also information for second-home owners and regular visitors.
Get news, views and information from France