The credit works is for anyone wishing to carry out construction work, renovation, development or any other type of work related to real estate. It is a credit granted by a specific entity – in this case the bank or financial institutions, at variable rates and monthly payments diversified depending on the circumstances of the loan. Different credit work solutions can be proposed to you.
A credit for a project
There are several types of loan work, in fact about as many as there are kinds of work to be done. Thus one can find a special renovation loan for those who wish to carry out some repair work in their apartment or house. Or a loan dedicated to a new partial or integral construction, for example. Each case differs from the other, as do the conditions attached to it.
In general, a personal loan is conditional on an annual percentage rate of charge based on the total amount borrowed as well as the chosen repayment period. To define the ideal loan, you will need to think about these variables before going to the bank to get professional support.
Personal loan or loan affected?
By opting for a loan work, you are required to inform the destination of funds borrowed. By operating in this way, you still enjoy a right of withdrawal and protection in terms of credit affected.
For special works over € 20.001, the borrower can benefit from a repayment term of up to 10 years.
An assigned work credit is appropriate for specific work and requires the establishment of a supporting file. It can be canceled free of charge if the case is not conclusive. The credit offer may also be refused and the work may not be completed. In general, this type of loan allows the borrower to benefit from a lower interest rate and lower interest rate than a consumer credit.
On the other hand, a personal credit is attributed to the borrower without any obligation to justify its use. However, the offer of credit work loan is not cancellable in case of cancellation of a sale and the loan must be repaid in full.
The sustainable development loan
Any property owner wishing to carry out ecological work on their property can opt for a sustainable development loan or ecological credit.
This type of loan, however, requires the respect of some very strict eligibility criteria. It only concerns so-called eco-responsible works and is only granted to real estate over 2 years old. As a result, only professionals in the profession are also authorized to carry out the required work.
Simulate your credit works
Crediloin offers you the opportunity to simulate your credit work online through its simulator. The use of the latter, in addition to being simple and intuitive, is completely free and without commitment.