Who owns a home, has always a lot to do. Constantly work is being done to keep the building in good condition. In the end, it is only a matter of time before a modernization is due.For example, many homeowners are currently considering renovating windows or insulating roofs to reduce energy consumption and associated maintenance costs.
However, such comprehensive measures have their price. Often the savings are not enough, so that there is no way around taking a loan. In this regard, it is striking that more and more people opt for a installment loan. This is not surprising, after all, the banks advertise with fast and uncomplicated lending. In addition, interest rates on installment loans have fallen significantly.
Choose the right loan
Nevertheless, no hasty decision should be made. Whether it pays to take out a installment loan at the end depends solely on the terms of a mortgage loan. A loan secured by a mortgage usually convinces with an even more attractive interest rate. Given current conditions, potential borrowers may expect borrowing rates of about 2 to 3 percent. The installment loan starts from about 5 to 6 percent. In other words, it attracts an interest savings of about 50 percent.
Bank is accessible and whether addition costs threaten
Ultimately, it depends on how easily the GGV Bank is accessible and whether additional costs threaten. Ideally, financing through the bank is possible whose mortgage is in the first place in the land register. Otherwise, a lien may be required and it is then necessary to consider the costs involved. Often, these are not highly priced, which keeps the mortgage loan attractive.
If you are undecided and are looking for a low-interest option to finance your modernization project, then this is the right place for you. Our consultants are happy to check which options are available and which conditions are available.