Do you plan to do some work at home? This type of benefit is often financed by a loan, commonly known as credit or loan work. The Credit Guide is for you on the terms of this financing.
What is the loan works?
“Ready work”… You have probably already seen this expression on an advertising medium. It is simply a consumer credit intended to finance work at home : the installation of a swimming pool, a new decoration, the renovation of your bathroom, etc.
Yet the work loan is not included in the Consumer Code which only “recognizes” the personal loan, the revolving credit or the credit allocated.
In reality, behind the so-called credit works, credit institutions offer a personal loan or credit assigned, terms that may seem a little technical. The term ” loan work ” can be more specific for borrowers.
The work loan can become a home loan
In terms of terms, the loan works remains subject to those framing a consumer credit. Its amount must be between € 200 and € 75,000 and its borrowing duration must be at least 3 months.
And if the amount granted is more than 75 000 €? The loan works then becomes a home loan.
Loan rate works and simulations… prepare your project
Whether you subscribe to a construction loan or an immo work loan, we advise you to prepare your project upstream by performing simulations. But before using our calculators, find out about the evolution of loan work rates.
This will allow you to have an idea about the interest rate you could get. The work loan rates of our barometer are calculated based on the average rates obtained by our borrowing clients.