CREDIT FONCIER - COPROPRIETES

Crédit Foncier, a subsidiary of Groupe BPCE (Banque Populaire Caisse d'Epargne), specialises in financing real estate projects for private individuals. But it is also the leader in loans to co-ownerships. This is a complex market, due to the multiplication of players involved (syndic or syndicate of co-owners, the co-owners themselves) which requires in-depth knowledge of the field and dedicated management services. Against this backdrop, Crédit Foncier has developed three products capable of meeting all the needs of co-ownerships and subscribed directly by the syndic or syndicate of co-owners.

Foncier Copro 100, to finance collective works in common areas (major repairs, renovation, maintenance, comfort improvements). Very popular with co-ownership managers and owners, this collective loan offers several advantages. Each owner can decide on the loan term of his or her choice, from 3 to 20 years, and borrow all or part of the amount of his or her share. There is also no obligation to join the loan and he can choose self-financing or a loan from another bank. On the other hand, even if the loan is taken out by the trustee, the monthly withdrawal is made directly from the account of each co-owner, thus relieving the trustee of the management and hazards of the loan. Finally, it does not imply solidarity between the co-owners, in other words no payment is made for a defaulting co-owner, the repayment of the shares being guaranteed by a bank guarantee. In addition to this, there is greater flexibility than for individual loans (fewer documents required, no age limit). Detailed information must be provided to the co-owners before the general meeting of the co-ownership on the conditions of the loan. This meeting will have to be held by a positive vote, after which the co-owners will have 2 months to notify whether or not they wish to participate in the collective loan.

The Eco-PTZ co-ownerships for energy renovation works. This zero-interest loan, marketed by Crédit Foncier since 2015, makes it possible to finance either a package of works or the improvement of overall energy performance. With a long term of 10 to 15 years, it can finance up to €10,000 per work and per co-owner, i.e. a maximum total potential of €30,000. The works concerned are those carried out in the common areas but also on private areas of collective interest (door frames for example). Here too, there is no solidarity between the co-owners. The amount is deducted directly from the account of the syndic.