To obtain the cheapest work credit rate, you must first clearly identify your need: work loan for a property purchase, credit for work carried out by craftsmen or even small work loan that will be done. same (or not stated). It only remains to get a comparison of the cheapest work loan rates.
Works credit rate: identify your situation
Depending on the work you want to do, we will not necessarily turn to the same type of work loan and the credit rates depend on the type of loan:
- Classic work loan
This work loan is the most widespread. It is a consumer credit which makes it possible to obtain a very low work loan rate. However, you must provide proof of the work in order to obtain it.
- Personal loan
This type of consumer credit is also often used as a work loan. It has the advantage of being a credit without proof of work. It is a bit more expensive than the conventional work credit rate.
- Home loan
The home loan can be used to finance work to be done when buying real estate. Proof of work must be provided in order to release the funds.
- Eco-loan works at 0% rate
Obtaining a work credit rate of 0% is possible provided that you do energy saving work and meet certain conditions.
We will review these different solutions and give an order of magnitude of the rate of work credit that it is possible to obtain in these different cases.
The classic work loan: for what rate?
This type of loan is for work that is generally done outside of a real estate purchase. The conventional works credit rate is generally the cheapest among all consumer credit rates. It is intended, for example, to finance a major renovation such as redoing a roof, having a swimming pool, a garage built, or financing an extension. It can also be used as a kitchen or bathroom credit. We can even use it to finance a large decoration.
The only essential thing to obtain this type of loan is to have to provide proof of work such as quotes, purchase orders, etc.
General information on the classic works loan:
- Proof of work required
- Amount: $ 4,000 to $ 75,000
- Duration: 12 to 84 months
- Fixed APR rate : 1% to 7% depending on the amount and duration
Conventional works credit rate
To get the lowest credit rate, there are several options. Indeed, it is possible to apply either to your bank, or to a conventional credit organization, or to go through the credit offered by the craftsman or the works company.
In the majority of cases, the rate of the work loan will be the lowest through specialized credit organizations like Bankate or Astro Finance. In fact, when the loan is offered by the company that does the work, it generally receives a commission which will be reflected in the rate offered. For banks, it’s different. It is more that they are not specialized in consumer credit. They therefore generally find it difficult to grant the loan or to make a good credit work rate. But for good historical customers, bankers can be efficient. We advise you to read our article on how to negotiate with your banker.
The advantage of going through our credit comparator is to obtain the classification of the best work loan rates but also to obtain an evaluation of each client’s file. Indeed, there is no point in knowing who offers the best work credit rate if it is not possible to obtain an agreement. This is the reason why our system allows not only to obtain the classification of the best rates but also a non-binding evaluation of the organizations that offer these offers.
Personal loan, an alternative without proof
In many situations, it will not be possible to provide proof of work. The personal loan without proof is the alternative to conventional work credit when you cannot provide proof of work. However, all the other ordinary supporting documents that a credit may require must be provided.
The personal loan rate is very often higher than that of the conventional work credit. Indeed, as the personal loan can be used for any type of project, it happens more often that there are unpaid bills than with conventional work credit. We will logically find an impact in the rate of work credit in the form of personal loan.
General information on the personal loan:
- No proof of work to provide
- Amount: $ 500 to $ 30,000
- Duration: 12 to 60 months
- Fixed APR rate: 1.00% to 20.00%
It is all the more important to compare the rates of credit work in personal loan because the offers change very often and the differences from one organization to another are important. You just have to choose the category “Personal loan” in the definition of the project in our comparator.
NB: for a credit of 500 $ to 4000 $, our comparison is based on the revolving credit rates. We must therefore speak of an adjustable APR rate. We made this choice because we found that the credit organizations regularly offered promotions for this type of credit, and that generally for small credits, the offer of loan repayable was not the best.
Works credit through a mortgage
It is quite possible to obtain a work credit through a mortgage when buying a property. In this case, proof of the work must be provided. The funds will generally be released as the work progresses on presentation of supporting documents.
It is generally the optimal solution to obtain the best rate of work credit since one benefits from the rate of the mortgage. In addition, rates are historically low at the moment. So you really shouldn’t hesitate.
To get the lowest mortgage loan rate, it is even more essential to compare offers from different banks and even go through a broker. Regarding home loans, this is what our mortgage rate comparison offers
Works credit rate = 0%?
It is possible to obtain zero-rate credit, but only with the zero-rate eco-loan offered by the State. Also designated under the acronym PTZ, the zero-rate work loan makes it possible to finance renovation works in the context of energy savings.
To obtain this rate of work credit at 0%, it will be necessary to fulfill a certain number of obligations of which all the details are given on the site of the Ministry of the Environment. To mount the file, it will be necessary to go through a bank which offers the device. Most major French banks offer it.