Imagine your house urgently needs to be refurbished. The bathroom is no longer working properly or your kitchen urgently needs a repair.
If you have insufficient savings to be able to pay for it, then a loan offers a solution.
Taking out a loan nowadays seems very easy. But there are always risks. If you know what to look out for, you know what to expect and you can borrow money responsibly.
For whatever loan purpose you want to take out a loan, it is important to look at the economic life of the product such as a new kitchen or bathroom. For example, it is wise to match the maximum duration of the loan to this. In this way you prevent your loan from continuing while the economic life of the purchased product is already over.
Take out loan checklist
Before you take out a loan it is wise to go through the following steps.
Step 1: Get informed free of charge by a specialist from the Credit System. He or she searches for the best conditions regarding your intended financing wish.
Step 2: Compare the conditions
Compare the terms of different lenders. Consider, for example, the possibility of early repayment or a life insurance policy. But also the duration and the interest. You can do this yourself or with the help of a consultant.
Step 3: Check the interest and costs
Is the interest rate fixed or variable? How long does the interest rate apply? How much do you have to pay per month? Have you closed – or other additional additional costs? All things to find out before you take out a loan.
Step 4: Choose the loan form that suits you
Do you want to be able to withdraw more flexibility and money when you need it? Then a revolving credit offers a solution.
Do you want to borrow money for a major purchase? And know in advance how much you pay per month in interest and repayment? Then a personal loan is a good choice. With a personal loan you know exactly what you pay per month in interest and repayment. You borrow with a fixed interest rate during the entire term and you pay a fixed amount every month.
Tax benefits lend money homeowner
A loan that you take out to improve your own home gives you a tax advantage. In that case, the interest costs of the loan are deductible. A nice extra benefit for you. A renovation or renovation in the form of a new kitchen, bathroom, dormer window or solar panels are examples of loan goals that offer tax benefits. Our advisors can inform you and they take out a loan for you where you can optimally enjoy tax benefits thanks to their specialist knowledge.
Read more about your tax benefits as a homeowner