All about the types of home renovation loan
On the financial market, there are different types of loans for restructuring the recovery of a property, which allows bearing the costs and the overall costs of the interventions. Among the most advantageous solutions of the restructuring loan, we find the financial products of the Good Credit bank, which are characterized by the purpose of granting the capital disbursed: the restructuring loan, Good Finance energy saving loan and the Restructuring Energy Mortgage are the 3 types of financing to restructure completely a property.
The restructuring loan is intended to support all the restoration works of a building; the Good Finance Energy Savings loan is intended to support the costs of interventions to increase the energy efficiency of the home; the Energy Restructuring loan is dedicated to supporting energy requalification operations.
Let’s see together the details, the conditions, the methods of disbursement and repayment of the capital, the characteristics and the interest rate applied, how to request it and the eligible expenses of these 3 types of loan restructuring of the Good Credit bank.
Good Credit Restructuring Loan: CHARACTERISTICS
With the Good Credit Restructuring loan, it is possible to obtain a maximum capital of 100,000 dollars to support all the interventions and recovery operations of a property.
The amortization plan is personalized and flexible and can have a maximum duration of 10 years, with the possibility of rounding up the monthly installments to be maintained for the duration of the loan. Look at the following table with the main features of the personal loan:
Good Credit Restructuring Loan: FACILITIES
The Good Credit Restructuring loan allows you to obtain numerous concessions such as the possibility of having a flexible monthly installment amount and an amortization plan customized according to your spending needs; complete the advantages of choosing this type of loan for the renovation of your home, the possibility of benefiting from the deduction and tax concessions provided for by the DL63 / 2013, as expressed in the table below:
Good Credit Restructuring Loan: INTEREST RATE
The Good Credit Restructuring loan allows you to obtain a subsidized interest rate to support the particular renovation and recovery of a property, as shown in the following table:
CreditExpress Good Credit Energy Saving Loan: FEATURES
With the CreditExpress Energy Saving loan, it is possible to obtain a maximum capital of 75,000 dollars for the execution of renovation interventions aimed at the energy requalification of a property. All the expenses and costs that allow improving the efficiency of the home in terms of energy savings are eligible for the granting of the subsidized loan, including heat loss reduction operations and the installation of thermal panels and photovoltaic systems, as expressed in the following table:
Good Credit CreditExpress Energy Saving Loan: FACILITIES
The CreditExpress Energy Saving loan from Good Credit allows you to obtain advantageous concessions on all renovation and recovery interventions that have the objective of energy requalification of the property and the reduction of the energy requirement of the property, based on the operations described with the DL63 / 2013, regarding tax deductions :
Good Credit CreditExpress Energy Saving Loan: INTEREST RATE
Good Credit’s CreditExpress Energy Savings loan allows you to obtain a subsidized interest rate if this type of loan is required to support particular recovery interventions, as shown in the following table:
Energy Mortgage and Restructuring: WHAT IS IT?
The third financing solution proposed by the Good Credit bank is the Energy and Restructuring solution, which allows you to obtain variable capital based on the costs of restructuring and recovery of the property to be incurred. The mortgage for the renovation and energy redevelopment of a building allows us to finance numerous types of renovation and/or energy redevelopment works, benefiting from the tax breaks provided for by the 2014 Stability Law.
With the subscription of the Energy and Renovation Mortgage, it is possible to obtain the economic availability necessary to purchase and recover even an old property, increasing its energy efficiency and reducing the need, with an expected capital of up to 80% of the cost of the interventions and up to a maximum sum of 150,000 dollars.
For the granting of this type of mortgage, it is necessary to have collateral and the signing of a mortgage on a 150% property. In any case, all recovery and restructuring interventions aimed at the energy requalification of the property allow obtaining the tax deduction.
Energy Mortgage and Restructuring: DOCUMENTATION
To apply for the Good Credit Energy and Restructuring Mortgage, you must go to a bank branch and present the following personal and income documents:
- a personal documentation of the person requesting the loan;
- personal data of the guarantor;
- property documentation;
- documentation of the guarantees made (properties, securities).
Energy Mortgage and Restructuring: FEATURES
The Energy and Restructuring Mortgage can obtain a maximum capital equal to 80% of the expenses to be incurred, including a minimum amount of 50,000 and a maximum of 150,000 dollars, with disbursement in a single solution and manageable according to your spending needs during the operations in progress on the property.
The capital granted with this type of mortgage is repayable with an amortization plan for 5 to 20 years, with the application of a variable interest rate that allows you to maintain a monthly installment of a constant amount over time. To better understand, also note the table below:
Energy Mortgage and Restructuring: INTEREST RATE
The Good Credit Energy and Restructuring Mortgage allows you to obtain a subsidized interest rate, calculated on Euribor 3 months, or the main ECB refinancing rate if you carry out renovations and energy requalification on a property used as a first home, in the event that the recovery of the property
TAX DEDUCTIONS: information sheet
Those who bear costs for building renovations can benefit from the Irpef tax deduction of 36%. For expenses incurred from 26 June 2012 to 31 December 2014, the personal income tax deduction rises to 50%, passing to 40% for the period 1 January 2015 – 31 December 2015.
The law decree 63 of 4 June 2013 first and the stability law for 2014then recognized a 50% deduction also on the additional expenses incurred, from 6 June 2013 to 31 December 2014, for the purchase of furniture and large appliances of a class not inferior to the A +, as well as A for the ovens, for the equipment for which the energy label is provided, aimed at furnishing the property being renovated. The deduction must be divided into 10 annual installments of the same amount and is calculated on a total amount not exceeding 10,000 dollars.
For services relating to building renovation, ordinary and extraordinary maintenance, carried out on properties for predominantly private residential use, the subsidized VAT rate of 10% is applied. (from the Revenue Agency website).
To take advantage of the deduction, you must:
- before starting work, send, when foreseen, a communication with a registered letter with return receipt to the local health authority responsible for the territory, except in cases where the rules on safety conditions on construction sites do not provide for the obligation of prior notification to the local health authority;
- pay the deductible expenses by the bank or postal transfer, which must indicate the reason for the payment, the tax code of the person who pays and the tax code or VAT number of the beneficiary of the payment.
To take advantage of the deduction, it is sufficient to indicate in the tax return the cadastral data identifying the property and, if the works are carried out by the owner, the registration details of the deed that constitutes the title and the other data required for checking the deduction. (from the Revenue Agency website).