Cream Bank, these are loans specifically developed for people residing in the Overseas Departments. We already had the opportunity to tell you about this credit organization in one of our publications a few months ago.
Details on the works loan proposed by Cream Bank:
1) Study of the file : In the same way as the other organizations, modern credit will study your financial situation, ie your income, and your current loan. Is that how they will decide whether or not they will lend you money, and how much they can give?
2) The amount is capped, in no case may it exceed 75,000 USD. If you need a higher amount, you need to apply for a mortgage.
3) The credit maturities are debited every month from the borrower’s account. The duration is determined from the start and must be between one and seven years.
4) Personal contribution: This credit company does not require its customers to have a personal contribution. Concretely: You can very well borrow the total amount of the work.
5) Supporting documents: This loan falls into the category of appropriations allocated. Clearly: You must provide Cream Bank with supporting documents for the work (estimate and invoice).
6) Booking fees: This organization will not ask you for any booking fees.
How to obtain a competitive work credit?
It’s simple, you approach several credit companies, including Cream Bank. And you ask them to make you a loan proposal. Ask everyone to make a simulation of the same amount and the same number of repayment periods. The best offer is the one with the lowest APR.
When planning work, whether in your main or secondary residence, it is best to do it in advance, for a simple reason, the earlier you do it, the more chances you will find a really competitive work loan by comparing.
Most of the time, simulations can be done online on the websites of banks or credit companies. It is therefore simple and fairly quick to get an idea. Online simulations on the modern credit site are very simple. In addition, the response (without obligation) is immediate. This is not always the case with some of their competitors who first ask for your contact details and reply to you by email.
Modern credit rates seem competitive to us, plus the administration fees are free. So don’t forget to include it in your simulation requests.