Owners of a property or a homeowner who values the preservation of their property should renovate their own home at regular intervals. If it is a major renovation, the work can not be paid from your own credit. The credit for renovation is envisaged. A renovation loan can be used in various forms, with the loan amount as well as the desired duration play a role. If it is a rather small renovation effort, so could, for example, the disposition credit drawn. If it is already set up, the renovation works can be carried out without a new loan. When using the Dispo, the repayment can be made variable. If a higher credit requirement is needed, it is necessary to take out your own loan. A renovation loan is often offered as a classic installment loan. An advantage here is that the loan can also be used for a different purpose, for example the purchase of new furniture.
The loan for renovation
As a credit insurance needs for this loan only a regular incoming income to be present, also the private credit information must be positive. Installment loans as a loan to renovate, there are the local banks, but also direct banks and branch banks offer these loans.
As an alternative to the installment loan, a renovation loan can also be made by means of a building society. However, this loan is only possible if it is the renovation of your own property. The entire renovation can be financed with this type of loan, a new roof, new windows or a new facade would be considered. The renovation loan from the building societies ranges from 20,000 to 30,000 euros. If the homeowner moves in this financial area, many building societies refrain from registering a mortgage.
Of course there is the possibility to take the renovation loan as a normal loan from your own bank. The minimum sums for a renovation loan are between 25,000 and 50,000 euros. So this renovation loan only makes sense when a major renovation is due. Banks often require a registration of the land charge for these sums, which in turn causes costs.
To consider state credit support
A loan for renovation can also be applied for on the website of the Intrasavings bank (Intrasavings bank). Extremely low interest rates attract here, as well as amortization grants. The disadvantage of this loan offer is that it can not be applied for directly from Intrasavings bank. A commercial bank must always carry out the settlement. Anyone who informs their house bank about a loan for renovations will open doors. Most banks have their own modernization and restructuring loan concepts to offer. Instead of recommending a renovation over the Intrasavings bank to the customer, the own credit models are offered first. Some banks are offside with this type of lending, on the other hand, not everyone can claim the state subsidy. So, in order to receive the favorable financing from the Intrasavings bank, the renovation work must be completed within nine months. To prove this is by presenting the bills. In addition, the owner must be able to convey to the bank that all changes to the law that are relevant to government support have been complied with. For example, anyone who completely refurbishes their property and creates an energy requirement of 15% above that of a new building can obtain a loan from Intrasavings bank with the highest subsidies. It’s always worth asking.
Apply online for the loan to renovate
A renovation loan can also be requested online. For this you do not need the local provider. If a Intrasavings bank loan is desired and the local provider puts obstacles in the way of the customer, an online bank can apply for this loan. The whole credit procedure is carried out uncomplicatedly. Alternatively, for projects that do not fit into the scheme of Intrasavings bank, there is also online offer good. For example, if a homeowner buys building materials that have environmental value and value, there are so-called eco-credits that he can use to renovate. The approximate interest rate for this type of loan is 3.40% and will be allocated without registration in the land register. The customer is advised to compare online exactly to find the right loan for renovation.
The home savings contract
A tip for a homeowner is to conclude a home savings contract. Especially as a homeowner fall over to renovations that cost money. Also, the property should be maintained so that the value remains stable. With the precautionary planning and conclusion of a Bauspar contract, a homeowner can plan major renovations optimally. The credit granted to the owner has attractive interest rates and a low installment volume.