May 22, 2019 admin 0Comment

 

Holidays are associated primarily with relaxation. Summer is also the perfect time to renovate the apartment. Before hiring a renovation team, it is worth carrying out a reconnaissance to find out what expenses are waiting for us.

You can paint a flat yourself. The cost of construction paints for home and façade interiors is not high. Larger expenses await us when the apartment needs more renovation. Replacing the old floor costs.

The same applies to the kitchen and bathroom. Everyone would like to have a modern and practical kitchen, a beautiful, spacious bathroom with a window, a large bathtub, a sauna and a corner – a laundry room. In a large room stylish, wooden furniture, chosen so that the room was comfortable, spacious and ensured maximum freedom. Renovation and arrangement of the apartment is a considerable expense.

 

A cash loan? Or maybe the credit limit?

A cash loan? Or maybe the credit limit?

A cash loan comes to mind. If the renovation is small, just compare the cash loans to choose the cheapest offer. It is worth taking into account the offers – cash loans, which were specially prepared for people who need additional funds for renovation.

Credit Loan has a special offer – Renovation Loan, with a 2% lower interest rate . The discount against the standard interest rate on the loan, which ranges from 6.99% to 18.99%. The loan can be obtained up to PLN 120,000 and the repayment spread over 72 months.

It is difficult to accurately calculate the total cost of renovation. To avoid a situation where the renovation will not be finished, but the money will run out, you can attempt a credit limit in your personal account .

It usually involves costs. They are small. At Rairai Bank, the commission for granting the credit limit amounts to 1.2% (at least PLN 50). The limit amount ranges from PLN 3,000 to PLN 60,000. The interest rate starts from 0%.

If we receive a credit limit on your personal account, we will not have the repayment dates set. The bank only requires regular inflows to its limited account.

An additional incentive are:

  • simplified formalities for people performing free professions (including doctors, legal advisors, dentists)

  • simplified formalities when transferring the limit from another bank (the maximum limit amount in the Limit for Limit offer is PLN 25,000)

The debt limit gives you security and financial security. We pay interest only on the amount used. Do not worry that the money for refurbishment will suddenly run out.

 

A cash loan or a mortgage loan?

A cash loan or a mortgage loan?

In the case of major refurbishment, mortgage loans can be used. Low interest rates (lower than cash loans) and the possibility of borrowing a large amount, which can be spread over a much longer period, are its advantages.

Difficult and long-lasting procedures, however, may discourage us after the first visit to the bank. A mortgage loan is granted against real estate. It will be necessary to appraise the real estate that the appraiser or bank employee performs. It is necessary to secure a mortgage loan. – In the land and mortgage register of our real estate, we must enter a mortgage for the bank.

It complicates the whole thing. Even more expensive cash loans seem more advantageous in this situation. Unless we really have a home for a major renovation, which will cost us a lot. Only in this situation is it worth trying a mortgage loan.

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