Axes for renovation
Those who want to borrow money to renovate or renovate their home can take out several loans. The most well-known option is the renovation loan. Those who make an energy-saving investment can claim a green loan. Such loans are granted to people who, for example, want to install solar panels or a solar water heater.
Borrowing for a renovation
A less well-known option for those who borrow money is to ‘borrow for a renovation’. Such loan formulas are granted to people who already have a mortgage loan with a money lender. They are given the option to re-use the amount that they have already repaid to finance the renovation. Anyone who wants to borrow for a renovation can only claim the capital that has already been repaid. The lender does not take the interest paid back into the account.
Borrowing for a renovation falls under the tax benefit of a mortgage loan. For example, it is possible to translate the extra loan amount into a longer loan period. This allows the borrower to enjoy the tax benefit for longer. In addition, it is possible in this way to prevent monthly payments from becoming too heavy.
The price tag
Another advantage of borrowing for a renovation is the limited price tag. This way, the borrower does not have to pay for the notary fees again. After all, no new mortgage is requested. On the other hand, lendercan charge extra costs in the form of file costs. In that area, borrowing for a renovation is slightly more expensive than a renovation loan, or green loan. In those two cases, the borrower only has to pay interest. They are included in the monthly installments.
Borrowing for a renovation is usually more interesting when it comes to larger amounts. For smaller amounts, the moneylender is more likely to put forward a renovation loan or a green loan.
Anyone who wants to borrow for a renovation is at the right place on our site. Here you can compare all the official rates of the lender. In addition, it is possible to let your light shine on the renovation loans and the green loans. This way you immediately know which loan formulas best meet your needs. Don’t forget: Borrowing money also costs money.
Looking for other installment loans? View personal loans and merging loans here. On our site, we also shed light on free current accounts.