Make a credit work without being owner: is it possible?


Obtaining a credit works does not necessarily mean to own a property, for small jobs in particular. Here’s how to get a work loan without being a homeowner.

Ready work, without being owner

Usually, the work loan is underwritten by an owner to carry out work in his property, which he recently bought or not and this work can be various and varied: structural work, expansion, compliance, insulation, roofing , plumbing, heating, decoration … There are two types of loans available to finance work, the mortgage that can finance very large works, the minimum amount is 75 000 USD and the loan for consumption, for smaller amounts.

Of course, the mortgage loan will not be accessible for a borrower who does not own the property since the latter will require to provide a proof of ownership and a guarantee on the property concerned by the work (mortgage, deposit). For a non-own borrowing, the only possible recourse remains the personal loan which proposes a free amount without justification of use of the sums.

Personal loan for work without owning

The personal loan is a credit the amount of which can be obtained freely without having to provide proof of the amount borrowed. The advantage of this credit is to be able to meet all types of needs of borrowers and all types of projects, including if a tenant wants to do work in the property where it is housed, or if a tenant wants to retype a house, an apartment in exchange for good procedures (free accommodation …).

These practices are quite common in France and allow an owner to renovate his property without having to subscribe credit, for the non-owner borrower, he can quickly obtain financing and carry out the work without the need to be owner of the building. The personal loan however involves a feasibility study, like any credit elsewhere, that will judge the borrower’s debt capacity and repayment capabilities.

Simulate a personal loan for work

In order to be fixed on the obtaining of a personal credit being dedicated to the realization of works, it is necessary to carry out an online credit simulation, this step makes it possible to know if the financing can be obtained taking into account the amount wish. The interest of the simulation is to sweep the borrower’s entire situation to find the best financing offers on the market. Some organizations are better placed on personal loan offers, the simulator allows to target these banks.

The course of the simulation is relatively simple because it is sufficient to specify the amount of funding desired to carry out the work, follows several steps to specify the amount of charges, the income of the borrower or his professional situation. These elements make it possible to refine the search and to receive several offers of loans after validation of the simulation. The interest is then to be able to choose the best proposal among those received to finance its work.