Getting a loan work over 15 years is possible, with more or less interesting conditions depending on the type of loan and the amount of the loan. Here is a file to get his financing works at the best conditions.
Borrow over 15 years for his work
The work is needed in all types of homes, whether in the former for a compliance or renovation, or whether in the new to finish the finishes of a house construction. In both cases, the financing of the works is a real subject, to which the owner of the house must find solutions. If some integrate the amount in their home loan, others will seek a new loan to finance their different jobs, both important and smaller.
The choice of duration is therefore important in a loan work because it will condition the amount of interest but also the amount of the monthly payment, to allow the borrower to repay its debt in good conditions. Many borrowers are turning to short terms like 10 or 15 years.
Credit works: what kind of credit?
You should know that there are two types of loans that can meet loan financing work, home loan and consumer loan. The mortgage is intended for the acquisition but also work, it must be at least 75,000 euros and the borrower seeks to take a guarantee (mortgage or suretyship). For consumer loans, this may be a work loan (justified by documents and the financing of which is closely related to their completion), as it may be a personal loan, in the amount of free. The only problem with consumer loans is that their duration can not exceed 120 months in general at the different banks, which corresponds to 10 years.
For borrower over a period of 15 years, it will be necessary either to favor the mortgage, or resort to the regrouping of credits which makes it possible to buy out loans in progress and to add the amount of the work to benefit from a longer duration or even even greater than 15 years.
Which bank to solicit for a loan works?
Not all banks offer mortgages, loan pools, or construction loans to finance different types of work, both wholesale and small. It is not easy to know where to start, especially when brokers can also answer the call of the borrower, proposing different solutions.
The best alternative to date remains the comparator of loan work since this tool makes it possible to deposit a single request, to save time in its approaches and to be able to solicit different financial institutions, that it is banks, organizations of credits or brokers. The interest is therefore to receive several offers of loan financing works according to his needs and to be able to select the best financial proposal.