Carrying out work must be prepared in advance and the financing stage can be complicated to manage, especially if you want to obtain the best rate for your work loan, here is an overview of the organizations and the financing .
The financing of works is an essential step in order to be able to complete your construction, development or decoration project. It is therefore necessary to appeal to an organization that offers work loans but different bank operations can make it possible to finance the project. The works credit is the first recourse most requested, it is in fact a loan for affected consumption, that is to say that obtaining it is linked to the works, if they are not carried out, the credit is not activated. The other equally well-known loan is the personal loan, a free amount that can be obtained without supporting documents and on simple request from a credit organization.
For amounts above 75,000 euros, it will necessarily be necessary to take out a mortgage, the advantage is that this loan has significantly better rates than consumer financing and it can just as well confuse the purchase of land. with construction or renovation work (see How Much to Borrow on the website). Finally, owners who already have credits in progress and wish to carry out work can turn to the repurchase of credit works, a financing offering a single monthly payment for the grouped credits and the amount of the work.
Retail banks, i.e. traditional bank branches, can offer works loans, but they are generally not the best placed since they have relatively closed products, with no room for negotiation or adaptation to the needs of the borrower. However, they can be very well positioned for their long-term customers, so you should never forget to ask your bank, which can sometimes respond perfectly to the request for a work loan with a tailor-made product, such as responding to the shortfall with financing based on too high a rate. It is not only for the consumer loan that the identification of the best bank is complicated, it is also valid for the mortgage without contribution.
Cetelem, Sofinco, Cofinoga and other Cofidis are the very benchmarks for consumer loan financing, of which the works loan is a part. Their advertisements on all communication media demonstrate their striking power and the adaptation of their offers to the needs of French people, including to offer them solutions adapted to the financing of their work. These products, in classic and personal consumer credit, are often offered at attractive rates, especially since the competition between these organizations facilitates the negotiation of the best rate.
For borrowers who are less comfortable with credit and the mechanism of finance, it is possible to delegate the research work to a comparator, the latter quickly offers to find the best work loan offers according to the borrower profile and of its financing needs. Comparators work with many establishments, which clearly makes it easier to obtain the best rate but can lead to aggressive canvassing, depending on the organization.
