Finance jobs through credit redemption: is it possible?
Construction of a swimming pool, a veranda, a terrace or a garage… It is quite possible to finance works thanks to the credit redemption.
It may be difficult for borrowers who have already subscribed to several loans to obtain a new loan from the bank to finance work. Thanks to the acquisition of credit, it is possible to realize this project while respecting the level of indebtedness authorized. Details.
Using credit redemption to finance works: the benefits
Redeeming credit to carry out work allows you to enjoy several benefits. First, you can get a loan at a better rate than by subscribing to a conventional consumer credit. This solution also avoids further complicating the management of your finances because instead of having a monthly additional credit deadline you will pay only one monthly payment for all loans contracted.
Then, including the financing of a new project in a credit buy-back has the effect of smoothing the work expenditure over a longer period and lighten your expenses compared to the subscription of a work credit alone. In fact, as part of a loan consolidation, outstanding loans are combined into a single loan with a longer repayment period.
Borrowers who want to finance work while respecting the debt standards are therefore very interested in buying back their loans.
Credit redemption: for what types of work?
This financing solution makes it possible to carry out several types of work to renovate your home. Among the main ones are:
- Interior design work: installation of a kitchen, double glazed windows, a walk-in shower in a bathroom…;
- Extension works: construction of a garage, a swimming pool or a spa, a veranda, a terrace…;
- Renovation work: setting standards for electronic or heating equipment installation in renewable energy…;
- Decoration work: tapestry laying, painting refreshing…
Before submitting your request for additional financing to the bank, it is strongly recommended to ask for several quotes to precisely quantify the amount of work you want to undertake.
Why make a simulation of online credit redemption?
If you intend to finance work by resorting to the repurchase of credit, do not hesitate to make a simulation online. For that, you just have to enter in the form presented the number of credits in repayment, their nature and amount, the capital remaining due as well as some information on your personal and financial situation. You will also need to specify whether you want to include additional financing in the transaction. In a few seconds, the tool shows you the total cost of the loan consolidation and the amount of your future monthly payment.
Thus, the use of a 100% online credit redemption simulator is essential to evaluate the interest of using this solution. This is a preliminary step to the comparison of offers.
To finance work through the purchase of credit, you can finally call a broker. This real estate market specialist accompanies you throughout the subscription phase and provides you with personalized advice.