What is the loan works? All about renovation credit
Would you like to revamp your home but do not have the funds? No worries, you can use the work loan to renovate your home. Thus, it will be possible to put a new roof, build an annex or refurbish a second residence that you have just acquired. More details in this article.
The renovation loan: for what works?
Whether you are a do-it-yourselfer or want to hire a contractor, in both cases you will need money to do the work in your home. For this reason, the loan works represents the best choice. Thanks to this dedicated personal loan, the necessary amount will be allocated to you. In this case, a proof of your work is required to know what your loan will serve. After acceptance of the credit, you will receive the money to begin your renovation work.
But what can I renovate or install through the credit works? And all insulation work, carpentry and amenities are targeted. The heating, sanitary, swimming pool, alarm system, equipped kitchen or air conditioning system are also included. A wide range of works is thus achievable thanks to the renovation loan.
The conditions to benefit from the credit works
Of course, not everyone benefits from a renovation credit on a simple request. Criteria must be met to qualify for it. First of all, as with all loans, you must be over the age of 18 to borrow or be an emancipated minor. You must also own the dwelling that is the subject of the renovation. Then you must prove that at least 80% of the borrowed money is allocated to your future work. To justify this, bring invoices and purchase orders to the financial institution to which you are applying for the renovation loan.
Do not hesitate to contact the Walloon Region to find out if you are eligible for bonuses. Indeed, for certain types of work, bonuses are granted. Here again, certain conditions are to be fulfilled. Keep your proof of payment to justify your work.
Anyway, if you already have plans to renovate your home, do not hesitate to think about the loan works to benefit from a non-negligible financial boost. Crédit Wallonie is ready to assist you in your efforts to obtain this loan, contact us!