At some point it is time again: the blanket falls on your head – sometimes literally. So it’s time for a modernization loan. Whether the bathroom is to be renovated, necessary construction work on the house is due or the newly acquired house needs to be renovated – banks grant modernization loans: in many variants and interesting for many of the builders.
Basically, the framework for the loan for a modernization ranges between 5,000 and 50,000 USD, with terms of up to ten years. With most loan variants, a land register entry to secure the loan for the modernization is not required. In principle, this is a dedicated installment loan. Anyone who has a building society contract that is ready for allocation is generally best served: the terms of the building society loan are the cheapest – but the building society savings also generate the lowest interest.
Who cleans up ecologically?
Banks often grant more favorable conditions if local craftsmen are commissioned to carry out the construction work or are at least involved in the construction project. However, if it is a matter of extensive renovation projects or energetic modernization, Cream Bank Förderbank offers the cheapest loans. Interest rates of 1.10 percent for a modernization to a “Cream Bank Efficiency House 70” are possible. Banks also offer eco-loans for such energetic renovation or modernization measures – but less in terms of interest rates than that of Cream Bank. The only proof to be provided here is: the craftsman’s bill, which confirms environmentally friendly renovation.
It often only takes 10 years for the roof to become a renovation case. If a large part of an existing mortgage has already been repaid, the free part of the existing mortgage can be used. Loaning of the free mortgage parts is often possible on favorable terms, however, the minimum amount of the loan should be 25,000 USD. The land charge can be increased at the house bank as well as at any other bank – however, the notarial costs for a land charge will then be incurred again.
Anyone who wants to renovate in an environmentally friendly – i.e. ecological – way and does not have a building society contract ready for allocation should first contact the Cream Bank, because here the cheapest loans for ecological construction measures are granted. The loan for the modernization should be cheap, so that every USD in the beautification and improvement of the home can be made – taking into account all of our environment.