You want to borrow money to have a renovation carried out on your property.
If your financial position allows this, various forms are possible, namely the renovation loan, the renovation loan, the renovation financing.
Are you going to borrow money for a renovation then it is wise that you adjust the term of the loan to the (expected) duration that you stay in the house. So if you expect to move in 5 years, you can best ensure that the loan for renovation is repaid by no later than 5 years. This prevents you from moving to another home and the loan for renovation is still running. In that case there is a risk that the height of the renovation loan or the renovation loan is higher than the surplus value or yield of the house.
A renovation loan has a fixed term and a fixed monthly amount. The advantage is that the interest is also fixed and you are therefore not faced with surprises. You can arrange exactly in advance when the refurbishment loan has to be redeemed. You can use your monthly budget as the starting point for the refurbishment loan so that we can see what amount you can borrow on this basis and with what duration. You can also indicate what you want to borrow so that we can see for you what the monthly costs will be for this. In all cases we fully adjust the renovation loan to your wishes as you did with the implementation of the renovation.
A refurbishment credit has a variable term and a variable interest rate. With a refurbishment credit you can pay extra at no extra cost. This form of credit is suitable when you need money for your renovation, but also have ongoing loans or loans that you want to convert at more favorable conditions. With a refurbishment credit you have to take into account that at the end of the life of refurbishment or the purchased goods, sufficient credit has been repaid. At that moment you can use the available balance on your refurbishment credit to purchase another goods!
A renovation loan can be either a renovation loan (Personal loan) or a renovation loan (revolving credit), or a combination of these two forms. This allows for a very precise renovation financing that is fully tailored to your needs, even if they go beyond just the implementation of the renovation. Consider, for example, the payment of (very) expensive credit forms such as Credit Cards, mail order credits, but also the shopping cards of Prime Line, Visa, Laser, Comfort Card and Santander.