Search Q&A
How does it function to get & use a loan for renovations
Hello!
I would appreciate very much if people who have got and used a loan for renovation works would share their experience.
In short, we got approval from bank to get a loan for renovation. We asked for a devis from a company for the works. Now the company asks for a certain percentage in order to start works.
What is the bank going to do? Is it going to unblock the amount asked?
Grateful if those who have experience with such a thing, would share it with us.
Have a great day!
My bank ING releases the entire amount after signing for renovation without eco projects. Super easy and if anyone ever asks for proof just show the devis. I wouldn't pay up front in case the work isn't done to standard or as agreed. Write everything down and both parties sign etc...
The released ours - 2 different times actually the day after we signed the loan with the bank. The asked for a devis just to show the works were values at the amount we were asking from a pro, but how we used the money was up to us. We did a lot ourselves and let the money go further and saved the receipts in case they were needed, but never were. The ECO loans were a lot more hassle with showing devis and factures etc for tax purposes.
Project financing program. We offer flexible financing for various projects by following the usual rigorous procedures. This funding program allows a customer to enjoy a low interest rate repayment for as low as 3% per year for a period of 2-30 years. We can approve a financing for up to $500,000,000.00 or more depending on the type of business. Reply us with the information below via our following email: medallionfinance@financier.com
Name:
Country:
Amount Needed:
Monthly/Yearly Income:
Regards,
Mr Adams
