Financing the renovation of your roof: what solution? What rate?On August 15, 2019 by admin
Renovating a roof can be expensive, depending on the work to be done on the frame and / or tiles, so it is necessary to find a tailor-made financing.
Finance a roof renovation
Renovation work can quickly become expensive depending on the type of work to be undertaken and roofing is one of the most expensive items. Depending on the houses and buildings, the work may be more or less important. On some sites, a replacement of the tile will suffice while for others it will be necessary to review the whole frame as well as the insulation. It is therefore important to quickly quantify the amount of work to be done by soliciting several craftsmen, which can then solicit banking organizations to find credit.
For work of this type, three solutions will be favored: the personal loan, the work loan and the pooling of loans for households already having monthly payments in repayment. Each solution has advantages and disadvantages.
Personal loan to renovate the roof yourself
Many owners undertake work themselves, either in whole or in part, the advantage is to be able to save money on the labor but on the financing side, it is necessary to justify on the one hand the purchases of materials and other hand craftsmen’s estimates for specific needs. The personal loan is a loan to obtain an envelope without having to justify the use of money. Obtaining this credit is simpler but it is necessary to quantify the amount of work to avoid ending up with an insufficient or too large amount.
The loan works for the roof
When we call on a craftsman, we first and foremost want to get quality work and guaranteed, but the bill will necessarily be heavier. The loan allocated to the consumption makes it possible to secure the release of the funds because a justification (estimate concerning the renovation of your roof, order form) will be obligatory in order to validate the file, moreover, if the works are canceled at the last moment by the owner, then the release of the funds will not take place, which avoids paying monthly installments in the wind. The instruction of the file is longer but the rates are often interesting.
Finance roofing work with credits in progress
Many households already have credits in place and do not have the capacity or willingness to accumulate a new monthly payment. Rather than going on a consumption credit, the idea is to go through a credit consolidation that allows both to collect credits in the process of repayment and to add the amount needed for the work. The advantage is to be able to readjust the new monthly rate down, extending the duration, which avoids imbalances in finances. The disadvantage is the increase in the total cost of credit to reach a smaller monthly payment.
In the three solutions proposed, it is possible to use an online simulator to compare the proposals of banks and especially the current rates. This is a free service offered without commitment.