What loans to finance its work?
The financing of works is possible thanks to several types of financing adapted to different needs.
The unallocated personal credit allows the borrower to freely dispose of the borrowed amount. Once the credit has been accepted, the unblocked amount is paid in one go to the borrower’s account, which can then be used as it sees fit. This type of credit is particularly suitable when you are doing small jobs or when you are doing work on your own. With an unassigned personal credit, you have no proof to provide to the bank for obtaining it. The sum of the credit is available relatively quickly since the release of funds comes as soon as the loan application is accepted.
The credit works is a so-called affected loan, since it is intended only for financing work. Works credit is often used for substantial work or when the work is done by professionals. The bank then has the opportunity to request proof of this work (quotes, invoices, …), it will then directly pay the craftsmen or suppliers. The works credit therefore has a more limited use than the unallocated credit, since it is conditional on the completion of works. Nevertheless, it has the advantage of being dependent on the completion of the work. The nullity of one leads to the nullity of the other.
Real estate loan
The works credit is limited by the legal texts to 75 000 €. However it is not uncommon to see work invoices raised to much higher. In this case, it is therefore not possible to subscribe to a work loan. We must then turn to a mortgage. The main advantage of using the mortgage is that its interest rate is generally lower than that of a consumer credit. Combining a home loan and a credit works in the financing of its property can therefore be an interesting operation.
The revolving credit presents the last solution to finance works. This is the provision by a financial institution of a sum of money that is reconstituted as and when it is used by the borrower. Revolving credit, also known as revolving credit, is a solution that allows for quick cash flow but has higher interest rates than other credits. Revolving credit is a type of unallocated loan since the borrower has the funds freely.
The work credit, as a consumer loan , can be subscribed in a bank, with a specialized institution or online. Nevertheless, it is important to compare the cost of appropriations with particular importance to the annual percentage rate of charge (APR), which shows the total cost of credit. The Centrale de Financement offers you its simplified offer:
1) Online simulation of your project
2) Credit application works to complete and print
3) Sending the signed loan agreement with the supporting documents
Loan work: what can be financed?
The loan works allows the financing of all types of work, whether done by yourself or professionals, whether it is plumbing or just the renewal of appliances or a makeover of your living room.
- Work done by professionals
The work credit directly remunerates the professionals and gives the borrower some security, especially in the event of disputes with a craftsman; since in case of worries the credit works can be suspended the time of the dispute.
- Work done by yourself
Since the credit can be unallocated, the borrower can use the amount borrowed to pay for the equipment he needs for his work and then realize it himself.
- Home equipment (appliances, image and sound)
To completely change the kitchen appliances of a kitchen or to equip his house with a latest generation television, the unallocated work credit allows the borrower to freely dispose of the amount borrowed for the equipment of his home.
It may be to call an interior designer or simply to revamp his bathroom yourself, the credit works offers these opportunities.