Do you own a home and want to do work without the intervention of a company?
This is certainly not a trivial project, but it is feasible, if you have all the necessary equipment, but most importantly, if your budget is sufficient.
To help you with this project, you can use the work loan to finance the work you do yourself.
You will see in this article the existing financing solutions, as well as the useful tips to make the right choice.
What types of work does this loan take into account?
It is first important to know that it is not easy to get a loan work in this condition, except of course, if you are a confirmed professional and registered in the register of companies. If you’re wondering what you can do with this credit, it’s simple!
You can do everything you can to renovate the roof, to build a garage, to renovate an old house, to build a garden shed, etc. As you are the owner, if you have the skills, why not do the work yourself. However, given your project, what kind of loan will you be able to contract?
Loans work possible for work to realize oneself
You can use two types of credit:
- Personal loan: this loan is the easiest to get. First, because you do not have to provide proof of use of borrowed funds. Also, the rate is quite high. What matters to the bank is to assess your borrowing capacity and your franchise. With the personal loan, you will not have to prepare large files or to follow a long protocol.
- The loan allocated: in this case, you will specify in detail what you intend to do with the amount borrowed, including the purchase of materials and tools needed. Indeed, it is the basis of the loan affected. The amount should only be used for the purchase of specific equipment. The rate offered by the assigned loan is low.
Conditions of obtaining the loan works for work to realize oneself
If you have chosen a personal loan, the release of funds depends on each institution and the formula you have chosen. But for an affected loan, the funds will be released only upon justification of the purchase mentioned in the loan application.
The borrower will also ask you to provide him the quote and the invoice of your purchases. To obtain the quote, you must go to the mall where you intend to make the purchases, and ask for an exact quote on paper, with the identity of the store.
As you plan to do the work yourself, you already know all the materials you need to complete the work. You must have a clear checklist to remember nothing.
The repayment period of the work loan may be up to 8 years maximum, and the maximum amount is 21,500 euros. To be sure of getting the necessary amount, it is advisable to opt for the free personal loan.
Our advice on work loans
There are a total of 4 distinct types of work loans: work credit, personal loan, store credit, and mortgages. We suggest you to see the credit comparison works on our website to make your choice.
To distinguish the best, you will first have to see the TAEG rate which includes all the expenses spent for the realization of the project. Set time to go faster and build confidence. Here’s what to remember about the different types of work loans:
- The loan works affected: you must justify the work to be done, the borrowers are artisans, banks, credit agencies and specialized institutions, the duration varies between 12 and 96 months, you can request an amount between 500 and 100,000 euros.
- The personal loan: you do not have to provide supporting documents, the borrower is either a credit institution or a bank, the amount varies between 500 and 300 000 euros, and the duration of the credit is 12 to 60 months.
- The store credit: it is specifically intended for purchases for the same store, the amount varies from 500 to 300 000 euros, the repayment period lasts between 3 to 36 months, and it is only proposed by specialized institutions.
- Real Estate Loan: This is the most common loan used in the real estate sector whether for construction or renovation. It requires proof of work, and is offered by the bank. The amount is unlimited, and the maximum duration is 30 euros.