Borrow money for a renovation
Through us you can take out various loans for a renovation: a personal loan and a revolving credit. Both loans have advantages in the event of a renovation. We are an independent party and mediate between different lenders. You want to borrow money for a renovation: which loan is most suitable for this depends on your personal situation and wishes.
A personal loan to finance a renovation
A personal loan to finance a renovation is a good option if you want to receive a one-off amount at a fixed interest. With a personal loan you receive a one-off amount. With a personal loan you know in advance where you stand: a fixed monthly amount consisting of interest and repayment.
Do you use the loan to renovate your own home? Then you can deduct the interest from the income tax. You can only deduct the interest with a loan where you pay off part monthly. This is possible with a personal loan, but not with a revolving credit.
A revolving credit for a renovation
With revolving credit you experience more flexibility. A revolving credit has no fixed term and thus offers the possibility to withdraw a sum of money over a longer period. This offers a solution, for example, when you are in a renovation for a longer period and need a loan amount every month.
The interest on a revolving credit is calculated on the outstanding amount. The monthly amount that you pay for a revolving credit consists of interest and repayment.