Inps loan for home renovation: useful tips

Ensuring a good quality of life also means living in a healthy and comfortable place. What better way to preserve the value of your home than to aim for a renovation ? This category of interventions includes conservative maintenance, the installation of devices that allow energy savings to be achieved, painting and much more.

These interventions require huge investments for the pockets of the citizen, who at the mere thought of facing a disproportionate expense decides to give up the possibility of redeveloping his home (the place where he lives with his family). Fortunately, there are concessions from the state that intervene to help citizens, to make the expense of restructuring a much less impossible undertaking than one thinks.

The facility under discussion in this guide that is about to begin is the loan for the renovation of the first home granted by INPS, formerly Inpdap.

In other words, it is a loan that makes the cost of redevelopment work much less burdensome for the finances of the citizens who request it.

The following paragraphs will develop the topic in all its aspects, to allow the reader to evaluate a precious possibility not to be missed.

Who is entitled to the loan?

When we talk about the INPS loan, we refer to the former Inpdap management, that is to say a subsidy guaranteed by the main Italian social security institution for all active or retired public sector employees .

Anyone who falls into this category of beneficiaries can submit their application to the social security institution to receive a loan appropriate to the type of restructuring to be carried out.

The loan granted by the Inps body for renovation works aimed at improving the livability of the home environment is defined as a direct loan .

The same type of loan can also be requested from a credit institution or other financial company as long as it has an agreement with the social security institution. In this case, the loan is considered "guaranteed".

The aforementioned loan has the advantage of amortizing the onerous expenditure foreseen for the renovation works thanks to an amortization plan that lasts ten years . In this period of time, the customer can easily deal with the expense which is divided into convenient monthly installments.

Presentation of the application: what to do to ensure that it is in good standing

The application for a loan cannot help but respect some formal criteria , because it is an important investment and therefore we are turning to serious and competent bodies.

Those who think they want to access a loan for the renovation of their home, because they are convinced by the guide that it is almost at an end, can intervene as follows.

The tool available to the customer, in these cases, is the INPS portal , accessible from the official website inps.it. The site is anything but difficult to use, therefore intercepting the items that are right for you is easy and intuitive. As for the possibility of requesting a finalized loan, simply log in to your reserved area using the SPID.

In these cases it is always advisable to contact the institution, through one of their contact channels described effectively in the numeroservizioclienti.com guide .

You should know right away that the application to access the restructuring loan cannot do without some documents to be attached, to reveal to the social security institution the real need for the subsidy that is requested. The documentation necessary to access the service therefore includes the following elements: the certification of ownership or bare ownership of the property, the declaration certifying the start of the renovation works issued by the construction manager, the self-certification of the state of family and a copy of the invoices of any expenses already incurred for the purchase of materials and raw materials.

The interventions for which the granting of the loan is envisaged

This paragraph aims to focus on the maintenance and redevelopment interventions that are part of the former Inpdap management project.

Please note that the loan is granted only for certain purposes of necessity, therefore its use cannot be directed to the purchase of other types of consumer goods or other types of purposes.

The multi-year loan - this is the name of the subsidy granted by the social security institution - has the specific purpose of helping those who plan to carry out the following interventions: extraordinary maintenance, restoration, conservative rehabilitation and building renovation.

The aforementioned types of intervention, in the context of building redevelopment, are inevitable in the long term. These works, in fact, make it possible to improve the quality of the residential building , allowing an improvement in performance in terms of livability and even energy saving and sustainable development. So those interested in investing their money in this way, know that they are investing in the quality of their life and their family.

Assignment of the fifth, this is how the loan is disbursed

The loan for the renovation of a home is granted to the citizen who requests it with the modality of the assignment of the fifth .

Precisely in order to guarantee a certain solvency on the part of the beneficiary of the loan, the Inps institution provides that the installments do not exceed a certain level, so as not to compromise the possibility for the customer to pay off the debt. Therefore, the individual installments that the customer undertakes to pay to the social security institution, promoter of the facility, must not exceed one fifth of his salary or pension.

It is important to consider that in most cases, as part of the former Inpdap management, the payment of the installments takes place through the deductions. From time to time, month after month, the customer pays off his debt by giving up one fifth of his salary or pension, as this is deducted by the social security institution. Please note that the customer can also opt for a loan spread over 60 installments for five years.

Unlike the ten-year loan, whose maximum loan limit is set at 100,000 euros, the financial product distributed over five years provides for a maximum amount of 30,000 euros .

The interest rate for the loan, what you need to know

Like any self-respecting loan, even the one granted by INPS for employees and retirees of the public administration provides for an interest rate .

The loan that is the subject of this guide is defined as "finalized" , precisely because its use must be aimed at specific renovation, restoration and rehabilitation works of a home.

The interest rate envisaged for those who benefit from the loan, as part of the former Inpdap management, is equal to 3.5% . Administrative expenses at a rate of 0.5% and a risk provision premium are added to the annual nominal rate.

The loan for the restructuring of one's own building can be granted by INPS, an important social security institution belonging to the State, and also by affiliated financial companies. If a loan from a credit institution is accessed, bear in mind that the interest rate may be different from that provided by the INPS. It is therefore advisable to always refer to the APR, a fundamental indicator of the global effective rate, which cannot fail to be indicated in the loan agreement established with the financial company.