Joint Note No 21 of 2024 analyses the impact of Law No 2024-41 of 2 August 2024, amending and supplementing certain provisions of the Commercial Code, on the deduction of interest on loans for the acquisition or construction of a single dwelling, in accordance with Article 26 of the Supplementary Finance Law for 2015.
Contexte
Article 26 of the Supplementary Finance Law for 2015 allowed taxpayers to deduct interest paid on loans relating to the acquisition or construction of a single dwelling, subject to certain conditions. This measure was intended to encourage home ownership.
Changes introduced by Act no. 2024-41
Act no. 2024-41 introduces significant changes to the deduction of interest on property loans:
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Reduction in the interest rate on current loans: Beneficiaries of home loans may now apply for a reduction in the interest rate applicable to their current loan, in accordance with the provisions of article 412 ter (new) of the French Commercial Code.
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Loan rescheduling: Borrowers can apply to reschedule their home loan, thereby facilitating repayment under new terms tailored to their financial situation.
To take advantage of these new provisions, borrowers must:
- Apply to their bank for an interest rate reduction or loan rescheduling. rééchelonnement du prêt.
- Provide the necessary supporting documents, such as proof of income or financial situation, to assess their eligibility.
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Comply with the deadlines and procedures set by the competent authorities and financial institutions.
Conclusion
Act no. 2024-41 offers borrowers of home loans an opportunity to lighten their financial burden by reducing the interest rate on their loan or rescheduling repayment terms. These measures are designed to help households buy their own home and improve their financial situation.
