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Works credit: Who borrows and why?

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The trend is to renovate your home, giving yourself the means to feel good at home has become a priority. But generally, the scale of the projects will encourage them to take out a works loan. But what exactly does “work credit” mean? Works credit is ultimately only a sub-category of consumer credit. However, it is specific in its object, since it is subscribed by the borrower to finance “works”. The holder of a works credit will accommodate the sum to undertake renovations, construction or even aesthetic development. Although all work credits are granted to finalize the decoration and layout of the home, it is increasingly time to control energy and respect the environment, so many renovations are coming to light. promote these approaches.

artists-studio.comes from the alliance EDF and BNP Paribas. While EDF longs for more ecology, economy, comfort for its customers, encouraging them to carry out renovation work, BNP Paribas their s brings its expertise in the expert reports, to implement a "responsible" credit. Since 2003, Finance Studio has also become the specialist in eco-financing. Today, Finance Studio has supported 450,000 individuals in their projects. Thus, their main activity is to finance the improvement of the energy eco-efficiency of housing.

But who borrows and why? The study carried out by Finance Studio underlines several points, in particular the desire to renovate its housing in cohesion with an "eco-responsible spirit".

28% of people who want to borrow for work are over 50 with only 19% of borrowers aged 35 to 39 and 11% under 35. The housing concern is therefore not a priority for young workers: the follower of a housing where life is good is on average 43.6 years old. The borrower will also generally be a couple or married.

The average age of the borrower also justifies the average monthly net income of € 2,244, allowing himself to wait for a more comfortable professional period, to consider obtaining a work loan. While we see that the borrower of an auto loan will have monthly payments on average more important in relation to his income, the person with a work loan will experience a lower average effort rate. Indeed, the percentage of income devoted to repayments turns out to be 14% for the borrower.

A works credit therefore expresses a great diversity of projects, the latter can be devoted as much to renovations influenced by eco-responsible behavior (installation of solar panels, condensing boiler, better thermal insulation, etc.), as to costs. of construction for an extension. It is important to consider in these types of loans, projects including decoration costs. It is thus possible to embellish your home by favoring the energy impact or the aesthetic aspect, which makes it possible to obtain an average loan envelope of € 15,000.

Obtaining a works credit will in most cases be aimed at completing a project for his main residence, although second homes are not neglected. The owners of a house are not the only ones to undertake work, the co-owners are also concerned by the renovation work of their co-ownership. Finance Studio has therefore launched a condominium loan to finance the renovation work on the common parts of the condominiums.

Despite the fact that the percentage of work geared towards sustainable development is still low, awareness is changing, mainly thanks to specialized media and the desire to save energy.

The most common renovations in this area are by far the renovations of insulation, which reduce energy losses and therefore the energy bill. A house built before 1975 can achieve a loss percentage of 25 to 30%. Walls and leaks as a whole are responsible for 20-25% of thermal loss and windows for 10-15%. Obviously, the total absence of energy loss turns out to be almost impossible, generally still remain, thermal bridges (5-10%) and low floors (7-10%).

Who carries out the work? The answer varies depending on the size of the work. On average, 25% of borrowers will choose to carry out their renovations themselves, while 15% will ask for the help of a professional, without abandoning the site. Finally, only 10% of borrowers will hire a professional for all of the work.

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