Whether you are self-employed looking for a personal loan, or a liberal professional temporarily lacking cash due to the default or delay of one of your important clients, or even listed due to non-payment of several installments of your installment loan, the crédit propriétaire can be the ideal solution to get out of a temporary financial suffocation situation. The crédit propriétaire can also be a preferred tool if you wish to take out an installment loan at an attractive rate to improve a property you own. A few words of explanation.
What is the crédit propriétaire?
There are essentially two forms of crédit propriétaire that meet two different purposes:
- The crédit propriétaire aimed at improving the comfort of a property you currently own. In this scenario, you decide, for example, to buy a beautiful equipped kitchen or to do work at home to change the frames to better insulate your property. In both cases, you increase the value of your house. Therefore, you can take out a crédit propriétaire and benefit from an attractive APR. It is somewhat of a classic installment loan but with an attractive APR because you own the house that will host the improvements for which you are taking out a loan;
- The crédit propriétaire aimed at helping you get out of a temporarily burdened financial situation. In this case, it is more of a classic mortgage loan through which you finance obtaining your liquidity by putting your home as collateral.
Who is a crédit propriétaire intended for?
- In the first scenario, that is, the crédit propriétaire that resembles an installment loan: any person owning a property who wants to improve its comfort can take out a crédit propriétaire and benefit from attractive rates.
- The self-employed, the liberal professional, or the listed person can, under certain conditions, obtain a crédit propriétaire to receive liquidity aimed at getting them out of a temporary debt situation.
What are the conditions to benefit from a crédit propriétaire:
- Be domiciled in Belgium or Luxembourg;
- Be the owner of a house located in Belgium or Luxembourg;
- When the crédit propriétaire resembles a mortgage loan, it is desirable to borrow a minimum of €25,000 to cover the costs of establishing the mortgage (notarial deed);
- The property must be free of charge or at least, the repayment of installments must be regular.