Your kitchen is in serious need of renovation, you want to transform the attic into a playroom, your living room deserves a new floor ... You have some projects to improve your home! On the other hand, you have no financial means to realize your desires ... Do not give up, because the work loan is perfectly suited to your situation!
What we designate as such is a form of consumer credit, assigned to a specific use: in this case, it is to allow you to have a sum to carry out work in your home , whether you are an owner or a tenant.
With this loan, you will be able to renovate or fit out your home either by using a business or by doing the work yourself. If you want to buy real estate or carry out work related to the acquisition of this property, it is rather a mortgage that will suit you.
If your file is accepted by the credit institution, you can borrow up to € 75,000 for a maximum period of 15 years . If, in practice, these figures are frequently lower, the work loan allows you to benefit from a more advantageous interest rate than the classic personal loan , as well as a longer loan period.
Another major advantage, the work loan does not require a contribution. In addition, the release of this loan is faster than that of a home loan. At the time of the loan offer, you have access to essential information: duration of the credit, monthly payments and cost of credit including in particular the interest rate and mandatory fees.
This credit formula is simple and supervised. The amount you can borrow corresponds to the amount you really need for your work: this prevents you from having a disproportionate loan compared to the nature of the planned expense.
You will need to provide proof, such as a quote from the service provider or the purchase of materials. If you renounce the work, the credit is terminated.
If you are a homeowner, you can take out a mortgage loan: it is cheaper than the work loan and since it is not an affected loan, the use of credit is free.
For major works, a sum greater than € 75,000 may be necessary: if you are not an owner, the mortgage is a possible source of financing.
Whatever the amount you wish to borrow, it is strongly advised to compare the credit offers that may be offered to you: there may be notable differences between the proposals, especially with regard to the interest rates.