If you want to do some work but you do not have the money to do it, there are different work loan solutions depending on your project and your situation. The loan works is actually a type of consumer credit.
Two main types of credit works are to be distinguished: conventional work loans (offered directly by credit institutions) and loans assisted for works (set up by the State, but distributed by the establishments with which an agreement was signed).
What are the existing work loans?
In the classic work loans, we find:
- the personal loan works. The borrower is free to use the loan as he wishes. The completion of the work is not related to obtaining this work loan;
- the assigned credit works. These loan works is directly attached to the completion of the work;
- aid from the National Housing Agency (Anah) for the most modest households;
As for assisted loans, you can subscribe:
- PAS loan awarded according to social criteria. This credit work is intended for the realization of work to make your property more energy-efficient;
- the loan agreement for the energy renovation. Like the PAS loan, it must finance work to improve the energy performance of your home;
- housing savings loan. This loan is granted at the end of a savings phase (home savings plan, or PEL).
Important: consumer credit can not exceed 75000 €. If the amount of your work exceeds this amount, you will have to apply for a real estate work loan.
What works finance with a loan works?
Works credits finance several types of services:
- renovation work (masonry, plumbing, electricity);
- construction work;
- earthworks (to prepare the land for future construction);
- extension work on a house;
- insulation work (attics, walls, installation of a low-temperature or condensing boiler), for example, to reduce your energy consumption;
- decoration, etc.
Loans Assisted Works: How to Get Financing Works?
Assisted work loans impose certain conditions (ceiling of resources, nature of housing). Some are reserved for the most modest households and others require energy performance. Rates of assisted work loans are therefore generally lower than those of conventional bank loans; their rates may even be zero.
Not being able to benefit from assisted loans, because you do not meet the conditions for granting, does not mean that you have to give up. Take the time to study all the classic loans offered by banks to finance your work. If you choose the right property, you can get very advantageous offers. All is well defended your project by focusing on your strengths to strengthen the financial institution as to your ability to repay the credit.
Compare work loans
To benefit from a credit work at attractive financial conditions, it is advisable to perform a comparative work loan. To facilitate the task of borrowers, credit offers work issued by lending institutions must include a number of the mandatory information, in particular, the name and address of the lender, the purpose, duration and amount of the loan works and the APR (a rate indicating the overall cost of the work credit).
Do not hesitate to carry out a complete comparison of our partner institutions on our dedicated tool and obtain the best financing conditions.