First home leasing is a contract under which the bank or leasing company (the grantor ) undertakes to purchase or build a house chosen by the customer (the user ). The contract must indicate the intention of the user to use the property made available by the grantor as the main residence .
The grantor, therefore, will make the house available to the user for a period of time, at most thirty years, against payment of a rent . At the end of the contract, the user will have the opportunity to purchase the house, paying the “redemption” priceagreed, thus becoming the owner. The right to redeem the property can also be asserted before the natural expiration , without penalty or additional charges.
Who can access leasing and how
Those with a total income not exceeding € 55,000 gross and who are not already homeowners can take advantage of the first home leasing solution . The contract must be signed by 31.12.2020 and can be jointly registered with several subjects, provided that all of them equally possess the required requisites. In this case, the personal income tax deductions are payable to everyone in proportion to the percentage registered in the contract.
It should also be remembered that by signing the contract, the holder undertakes, within one year of delivery of the house, to make the leased home his home.
The 6 advantages of “residential real estate” leasing
The advantages of leasing “residential real estate” compared to the mortgage can be summarized as follows:
Possibility to enjoy important tax breaks if the user has an income of no more than 55,000 euros and does not hold property rights on other residential properties: – Deduction equal to 19% of the leasing fees for an amount not exceeding € 8,000 for the under 35 and € 4,000 for the over 35 ; – Deduction equal to 19% of the final redemption cost for an amount not exceeding € 20,000 for the under 35 and € 10,000 for the over 35; – The registration taxon the purchase of the “first home” it is reduced to 1.5% of the purchase price. –
The substitute tax of 0.25% is not paid which is paid with the mortgage. All tax breaks in terms of deduction are due even if the house belongs Furthermore, it may be a building for residential use already built and completed and declared fit for use, a building for residential use to be built on a specific land, a building for residential use under construction and to be completed or even a residential building to be restored . All the tax advantages of Leasingreal estate for the main house can also be combined with other concessions .
Ability to cover the entire value of the house, while with the mortgage the coverage does not exceed 80%;
The notary costs are lower as there is no mortgage;
A mortgage guarantee is not required , as the bank or leasing company will retain ownership of the house until redemption;
Possibility to suspend the leasing fees , for once and for a maximum of 12 months, in the event of loss of subordinate work or termination of the agency, commercial representation or other collaboration relationship, provided that it is not due to termination consensual, termination for just cause, dismissal for just cause or justified subjective reason, resignation not for just cause, reaching retirement age. During the suspension period no interest will accrue on the residual debt on the suspension date and the final purchase (redemption) option will be postponed accordingly .
The suspension does not involve the application of any commission or preliminary investigation fee and takes place without the request of additional guarantees.
In the event of bankruptcy or forced administrative liquidation of the lending bank or leasing company, the leasing contract continues regularly and the rules laid down by the bankruptcy law apply to it.