If you want to renovate your apartment, sometimes the costs will almost overwhelm you. This is particularly the case if the apartment owners want to modernize their home with a new heating system. Due to the constantly rising gas prices, many homeowners will want to exchange their wasteful heating system for a more economical one in the summer months. But without the help of a bank, such requests can usually not be realized. What remains is a home renovation loan.
State aid may be available
There are energy saving measures that are funded by the state. But also the banks want to earn money from the business with the apartment renovation and lure the apartment owners with cheap loans. A home renovation loan does not have to be secured through the land register.
For the purpose, the banks also offer loans that are nothing more than conventional installment loans. This makes sense above all if not only is a new heating system to be installed, but the entire apartment is also to be given a new coat of paint.
The Fine Lender Bank
A Fine Lender Bank loan should always be considered. If you need the money to modernize the apartment, you can benefit from low interest rates. But funding from this bank can bring other benefits as well. A loan for the home renovation can be paid in full or in part at this bank without the bank charging a prepayment penalty. This bank does not charge these costs.
Conversely, this also means that the borrowers can opt for long terms because they can repay the loan at any time free of charge. The application can only be made through the house bank. In addition, a loan must be entered in the land register via Fine Lender-Bank.
Nevertheless, you should also take a closer look at the offers of the other banks. It is important, however, that you do not over-finance yourself when borrowing. This is particularly the case when a loan for the apartment still has to be paid off.