Consumers can nowadays find it harder to get to a house and therefore opt for a renovation of their own home more often. This renovation must be financed. You can do this with savings, but also with the money you receive when you take out a loan. More and more consumers choose to finance a renovation by means of a loan.
In the first three months of 2018, the number of renovation applications increased by 12 percent compared to the same period in 2017. An average loan is about 15,000 euros. In 2017, this average loan amount was slightly higher, at 16.364 euros.
Especially single people use a renovation loan. Over 46% of applications are made by single people. 26% of applications come from cohabiting, the remaining percentage comes from households with children. They borrow less money for a renovation.
The cheapest way?
Or borrowing for a renovation is the most advantageous way, there are opinions about dividing. Of course you pay an interest rate on this loan, so you end up spending more money than the entire renovation cost. The cheapest way is to use savings, but if this does not work then a loan application offers the solution.
Do you have a loan?
Do you already have a loan right now? Then chances are that our credit specialists can help you reduce the rent and / or shorten your term. This saves you on your loan and you lose less in total for your renovation. Pleasantly arranged!
All about borrowing
In the Dikke van Dale borrowing is described as follows: temporarily relinquishing someone to use. So you can also see it with borrowing money; a sum of money is temporarily given to you to use. We have listed everything about money for you.