The validation of a request for bank credit within the framework of financing of works obligatorily requires to provide the estimate of a professional to carry out the works.
Why does the bank request a work quote?
Whether in the context of a consumer loan, a mortgage or even in the context of a credit consolidation operation, the bank will systematically request a supporting document concerning the work to be financed. Many households undertake work projects in their homes, whether it is the main residence or not.
To be able to carry out this renovation or finishing project for the house, you must first obtain financing from a bank. It is possible to apply for a work loan which will make it possible to obtain the sum corresponding to the completion of the work, but it is also possible to include the amount in a home loan. Obviously, this request must be made at the time of signing the mortgage contract and therefore when acquiring the property.
The work estimate will allow the bank to have an exact estimate
Of the amount of work, this document is mandatory in the context of a loan by assignment but also in the context of a mortgage.
Only the personal loan can be exempted from this obligation to present proof as this consumer credit functions as an available envelope that the borrower can freely use to carry out the work (this is often the case when the inhabitants make the works themselves).
A work credit by assignment means that the work and the financing are intrinsically linked and the bank needs a professional quote to release the corresponding amount. It is for this reason that the bank will require a quote from one or more professionals to validate the credit file.
Request several works quotes to validate the credit
Households wishing to carry out work are strongly advised to obtain a minimum of three quotes from three different craftsmen. The idea being to be able to compare several tariff proposals for the same works. Some craftsmen may be more or less well-positioned and therefore, it is important to get into debt in a coherent way vis-à-vis the work to be carried out.
It is for this reason that requesting an online job comparison service can help you define your needs and obtain an adjusted rate. Some construction companies work in several trades while others are specialized in a specific field, prices can, therefore, vary according to the craftsman, according to his level of expertise and his needs.
Sam Weller offers you to obtain several works quotes meeting the banks’ requirements in order to validate your credit request. You just have to fill in the works quote form by choosing the type of work requested (structural work, decoration, finishing, extension, electricity, plumbing, etc.). Several proposals will be sent to you as well as quotes that may be authentic in the context of credit with a bank. Note that this is done free of charge and without any commitment.