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HOUSING REFORM PLAN SAVINGS

This reform applies only to housing savings plans beginning on of 1 March 2011.

What changes

rate will now be set each year ( before December 5 of each year for implementation next year) - calculated from risk-free rate of the European money market.

The rate of pay ELP after 1 March will 2.50% guaranteed for the duration for a loan rate of 4.20% (this calculation remains the same: savings rate + 1.70%).

Social security contributions are levied each year and not at the time of closing or after 10 years as previously.

immediate consequence: the annual interest will be reduced and the final sum will be less interest over the life

While housing savings plans are currently not limited in time, in 2011, the ELP will be transformed into a savings account at the end of 5 years after expiry of 10 years.

rights to housing loans savings will be lost.

The bonus payment of state is now subject to more constraints to the extent where we must make a minimum loan of 5000 €.

The maximum premium is revised to 1000 €, but will increase to € 1,525 if the matter relates to a housing loan BBC

Finally the rate of the premium is subject to a new calculation: P = 100 x total interest / pay rate of the ELP. This rate is then confirmed by decree.

home savings plan can no longer finance a home secondary.

So, should we open a Housing Savings Scheme by March 1?

all depends on your goal, if you have a real estate project, the conditions of housing savings plan before March 1, 2011 are more favorable.

Christine