The works loan responds to a growing demand from households to improve their housing. It can cover many operations, such as the construction of a new kitchen, the installation of a swimming pool or even an additional living room open to the outside.
Whatever your goal, you are probably wondering if it is useful to use a broker to find a work loan, even though your banking establishment offers it. The answer is yes, we explain why!
What is a works credit?
The work credit is intended to fit out, renovate and enlarge your interior and exterior. We speak of a work loan when the amount requested is less than 75,000 euros and the work is inseparable from the building.
If these are mobile elements, such as a garden shed without prior declaration of work for example, you will not take a work credit but a simple consumer credit. If the planned work is for an amount greater than 75,000 euros, you will finance them through a traditional mortgage.
In all other cases, it is indeed a work credit towards which you will naturally go. The work loan is actually a so-called “affected” consumer loan since it covers a specific object determined in advance. Indeed, to obtain a work credit, you will need quotes provided by craftsmen upon subscription, and invoices for the gradual release of funds at the bank.
But in practice, be aware that the work can also be financed by a classic consumer loan. Depending on the amount borrowed, the length of the loan desired and the promotional offers going on, these are sometimes more interesting, although less protective.
In any case, there are as many loans to finance works as there are projects and borrowers. Benefiting from a reliable comparison and personalized advice is therefore very often relevant, unless the amount of the loan requested is relatively low.
Why go through a broker for work credit?
The problem of works credit, or rather its advantage, is that it is distributed by a large number of players because of its legislation, relating to consumer loans. Thus, although traditional banking establishments and your own bank offer it, many external credit organizations are not left out.
While some are very well known due to publicity, others are less well known to the general public but can be just as interesting. Most of the time, they are only accessible through a network of intermediaries. Going through a broker therefore makes it possible to have access to a wider offer and thus to put a large number of credit institutions in competition easily.
And in terms of consumer credit, even for work, the gain can be great between two different loan offers. Indeed, unlike real estate loans which, currently, are all offered at relatively low rates, assigned or unaffected works credit has a wide variety of rates, ranging on average from 2.5% to 10%.
Finally, certain projects can be financed by a works loan and a subsidized loan such as the zero-rate eco-loan. A broker will therefore be very useful to you in putting together your loan file in the most interesting way possible in order to achieve maximum savings.
Thanks to his role of intermediary between his client and credit organizations, a good broker puts the best financial players in competition for your project and your borrower profile. He accompanies you, advises you and obtains a negotiated and attractive rate for you. In addition, his remuneration is only due if you actually sign the loan offer he has chosen for you.
Finding the best work loan without a physical broker
Finally, if you do not wish to use the services of a work loan broker, or if you just want to compare the offers for yourself before you commit, there is the alternative of online simulators.
These allow you, free of charge and quickly, to access the best offers on the market. By being exhaustive when requesting a simulation, the online comparator selects for you the best work credits that correspond to your project.
You remain free to follow up or not the quotes that are communicated to you. You also remain free to contact a physical broker in addition to the online tools to which you have had access.