What loan options are available for a bioclimatic pergola ?

What loan options are available for a bioclimatic pergola ?

If you're looking to finance the installation of a bioclimatic pergola in your garden or on your terrace to enjoy outdoor shelter all year round, the most appropriate solution is a home improvement loan. Here's an explanation.

What is a home improvement loan offer ?

If you want to install a pergola in your house's garden, you won't be able to take out a mortgage, and renegotiating a mortgage to carry out renovation works is not considered by banking institutions, caution experts at papernest.

The most appropriate solution is a home improvement loan if the amount requested does not exceed €75,000.

A home improvement loan follows the same rules as consumer loans, which you can find here. It also revolves around the same three main parameters :

  • The principal : This is the amount requested from the bank to finance your bioclimatic pergola.
  • Interest: This is the means of remuneration for your creditor and is applied to the outstanding principal.
  • Repayment period: This is the number of installments established to repay your loan: the longer it is spread out over time, the lower the installments.

Furthermore, for a home improvement loan to be granted to you, as highlighted by the papernest website, certain very strict rules must be followed: the debt-to-income ratio, including all credits, must not exceed 35% of your monthly income. Also, the loan amount must not exceed €75,000.

Moreover, your personal, professional, and financial profile must inspire confidence in your banker. A permanent contract, stable income, and good financial management (savings, no overdraft) will be assets when applying for a home improvement loan.

Finally, if the amount requested is more than €8,000, the bank may ask for a quote from a professional to justify the amount of the works: in this case, the cost of the bioclimatic pergola and installation.

What is a bioclimatic pergola ?

Precisely, a bioclimatic pergola is a semi-open outdoor shelter to install on your terrace or garden. The structure can be made of aluminum, wood, or steel. The roof is composed of adjustable slats, which offers numerous usage possibilities compared to a simple awning or a veranda.

With a bioclimatic pergola, you can enjoy your outdoor space despite the wind, rain, or sun. You will be able to enjoy a new living space, regardless of the weather conditions. It will provide you with coolness in summer and protect you from the elements in winter.

The cost of a bioclimatic pergola ranges from €2,000 to €20,000, depending on the size and features, not including installation by a professional.