Are you planning to do renovations in and / or around your home? Are you ready for a new kitchen or bathroom? Does the garden need urgent overhaul? Then you may be eligible for a renovation loan . This loan has been created for all renovations that take place in and around the home and has a better rate than, for example, the personal loan . Most lenders have included the renovation loan in their portfolio, although not all on the same terms. So when you start comparing quotations, it is important to first find out whether you are eligible for such a loan at your particular bank or at a loan office.
For works that need to be performed urgently
Who does not know the problem. You are buying a nice house with a beautiful garden, but there is still some work to be done. The kitchen is a bit old-fashioned and the bathroom has had its day. The garden would be great in the summer, but some changes still need to be made. And that costs money. Of course you can choose to save for a few years before you start all those works, but then you will lose a lot of time enjoying your home. With a renovation loan you can now carry out all the necessary works and pay for them over a longer period. And since this is a loan with a very specific purpose, the costs are relatively low.
Conditions for the renovation loan
As the word says, the renovation loan serves to carry out renovations. This means that you must submit invoices or quotations to the lender in order to receive the loan. Quotations will give you a clear picture of the sum you need. Once you know that, you are ready to compare loans. The renovation loan does not have a fixed cost percentage and a little research will quickly help you find the cheapest provider. In addition to the price, also look at conditions, terms, possible amounts and the services you are offered. These too can differ greatly among the various financial institutions. Here you can request loan quotes. This gives you the shortest route to a beautiful renovation.