Home improvement loans?

We are looking for a home improvement loan from a bank or ? in France as we need a new roof. The bank we have our mortgage (and an old home improvement loan) with changed hands and became Credit Foncier. It now says they do not give loans to non-residents. We have had our home for 10 years and have operated as a gite till last year when I retirWed. Presently, we now spend May through August in Burgundy. Any suggestions for where we can find a home improvement loan would be appreciated.

Dear Nancy: I am in a similar position. What did you ultimately wind up doing? Best, Paul

Hi…We received a home improvement loan from Credit Agricole where we bank. Good rate and nice to deal with.

We got an improvement loan at Credit Agricole at our local bank. Nancyb

Dear Nancy:

Many thanks for the quick reply. I bank now with Societe Generale. I, like you, have just retired and fully paid off my home in France. According to Societe Generale, I am not eligible for a loan because I am not a full time resident (only six months out of 12 for tax reasons) and because I am not considered in expat status – despite having paid off my mortgage on time!

How did you approach Credit Agricole? I am not vested in any way with Societe Generale, and would quickly change my bank if I could get a loan to do the work we need done.

Many and deep thanks for your advice.

Best,

Paul

Credit Agricole locally just seems like a relationship oriented bank. We met with a personal banker a couple of times and on the second visit he said he thought we could do it…after the proper review of finances.

Hi Paul…

Which Nationality are you?? I have no idea if it makes any difference, just wondering if it might …

Nancy:

That is good to know. Our finances are in good shape; I just would prefer to stretch the renovation cost over a longer period of time. I will follow up with out local Credit Agricole.

Many thanks and very best,

Paul

Just fyi–our loan is over time and very convenient with reasonable interest. Good luck. N

I wonder if anyone had looked into applying for this, an interest-free loan for certain types of home renovations? It does appear that it needs to be a primary residence but perhaps I have mis-read and it could apply to other situations:

https://www.french-property.com/news/build_renovation_france/interest_free_loan_energy_conservation/

Yes, Mary… this is an interesting article…

Helpfully in English for those who may not have been able to follow the advertisements in the French Press and TV etc. :relaxed:

I know it has been posted on the forum before (in one form or another) but it does not hurt to remind folk that help is at hand… if you meet the strict criteria.

Basically, Permanent Residents can apply for their main residence (does not apply to holiday homes/second residence)…

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These rénovation loans are available locally in our town but from what evidence I’ve seen the home improvements are uniquely of the accessibility kind for elderly and/or handicapped people e.g.widening doorways, installing wet-rooms or adapting kitchens for wheelchair users etc. It looks also as if they tie applicants into energy-saving installations as well, running up a large bill for which the proprietor pays quite a hefty chunk by way of of an interest-free loan.

Not a lot of use to impoverished grannies in remote hamlets. Most of signage announcing this kind of work in progess I have seen around town has been on expensive properties, not old cottages.

No-one needs to sign-up for anything they do not want, Peter. :relaxed:

There are some very good schemes about… this is the Energy Saving one that Mary posted about…

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Renovations to make a home “disabled friendly”… are also liable to Tax advantages/ special offers… depending on the situation… but these are not linked to the Energy Saving projects, they will be something quite separate.

Impoverished grannies in remote hamlets are offered all sorts of amenities… and, these do not come at huge costs… because they are impoverished… :relaxed:

One lady is fed up with refusing an indoor toilet… “I like going into the barn” she tells me… :roll_eyes:

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And I like going behind the poulailler (and the hedge, the potting shed, and up against a neighbours blind wall on occasions) …it’s one of the examples of sturdy French liberté that is grown-up, pragmatic, gender-neutral and plain common sense.

Thanks for widening my outlook again, Stella. :slight_smile:️