Why Choose Loans For Renovation And Who Loans Them

Home renovation loans among the most popular loans of 2017

Home renovation loans among the most popular loans of 2017

According to the latest Assofin surveys, loans for the purpose of housing and cars are the main driver of the loan market. Among the most requested products we find loans for restructuring, which continue to represent an important slice of the market. On the other hand, consumer credit fell, which usually involves less urgent expenses.

Returning to the issue of restructuring loans, these can in some cases represent an alternative to the mortgage. Those who are faced with restructuring costs with not too high amounts, can in fact opt ​​for a restructuring loan.

This is because, although a personal loan does not allow the disbursement of very high sums, it can easily exceed 20 thousand USD.

By choosing the restructuring loan, you will be able to save the notary costs, related to the start-up of the real estate mortgage, which would otherwise have to be sustained with the mortgage restructuring. At the same time, you avoid using your home as a loan guarantee. By contrast, however, loan interest rates are higher than those applied to mortgages.

Also note the fact that some restructuring loan formulas are easier to obtain than a mortgage. To give an example, by resorting to the assignment of the fifth it will be possible to obtain the money even for those who already have other loans in progress, or are reported as bad payers.

Not only. The structure of the assignment of the fifth does not require the presentation of collateral. It is in fact sufficient to be holders of salary or pension.

Best loans for home renovation

Best loans for home renovation

But how to find the best restructuring loans? In order to select the most interesting financing proposal, it is necessary to compare different proposals from banks and financial companies.

Among the most advantageous of the moment we find Cream bank, an online platform for the granting of loans from individuals. Unlike what happens with traditional lenders, Cream bank does not pay money directly. The platform only acts as an intermediary between lenders and applicants, in both cases represented by private entities.

By applying for a loan for home renovation, private loans usually allow you to obtain up to a maximum of 40 thousand USD. Instead, the question is different for banks and financial companies.

Findomestic, for example, pays sums of up to 60 thousand USD for home renovation works. Finally, we find Best bank’s proposal, with a personal loan for the restructuring that reaches a maximum of 100 thousand USD, to be repaid with an amortization plan that ranges from 3 to 10 years.

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