Financing the kitchen

Borrow money for a kitchen

Is your kitchen in need of a makeover or is it time for a replacement? Then choose a responsible loan. With a Personal Loan you do not pay any notary, appraisal, advice and closing costs, which means that you usually end up cheaper than with an extra mortgage. As a home owner you also benefit from an extra low interest rate. Request a quote without obligation and receive a tailor-made offer within 24 hours.

Read more about a loan or mortgage .

What is the average loan amount for a renovation?

The average loan amount for a renovation is € 27,500 and will be repaid within 8 to 10 years.

Source: The Dutch Credit Company

Financing a new kitchen with a Personal Loan

Borrow a fixed amount at a fixed interest. That is a Personal Loan . With a Personal Loan you always know where you stand. Because:

• You benefit from a fixed low interest rate that is tax deductible. The interest is now even historically low - you can finance from 3.5%.
• You know in advance exactly when you have repaid the loan.
• You borrow an agreed amount for your kitchen once, which you pay off monthly with a fixed amount in repayment and interest. So after every monthly repayment, your debt decreases a bit!

Tax benefit for home improvement

If you take out a Personal Loan to improve your owner-occupied home with a renovation, the interest is deductible. This also applies to the installation of a new kitchen .

In box 1 you pay tax on income from work and home. The interest on a Personal Loan is deductible if you use the loan for the purchase of a first home, maintenance of your owner-occupied home or a renovation.

In box 3 you pay tax on your assets, such as shares, savings or a second home. If you take out a Personal Loan (and therefore have a debt), you may in some cases deduct the amount of the loan from your assets. Please note: you may not deduct the first US $ 3,000 (or the first US $ 6,000, together with your tax partner).

More information about the conditions and options for tax deductions.

Why borrow from us?

• Lowest fixed interest rate from 3.5% (with a loan amount of USD 50,000 with a term of 10 years).
• Compare interest, conditions and payment date in 1 overview.
• With 1 application a complete and realistic range of 5 banks, which you really qualify for.
• 100% online, no expensive consultants and offices and therefore cheaper.
• Fast, error-free and inexpensive.
• Always pay extra in the meantime without penalty.
• Money back guarantee!

Do you want to know what amount you can borrow? Calculate how much you can borrow here . You can of course also request a non-binding offer immediately .

6 Tips for kitchen financing

1. What is the budget and what style and finish do you want? Which kitchen appliances will come? Would you like to cook extensively in country style or do you prefer a sleek design kitchen with the latest culinary gadgets? Depending on these factors, you determine how much you want to borrow.
2. You can already be on the lookout for built-in appliances and / or white goods. There are many options on the market and prices can vary considerably. Negotiation is often possible, sometimes even up to 30%!
3. Get a quote for your kitchen from various contractors . The following applies: the cheapest offer is not necessarily the best option. Therefore, always check whether it is a total price and how the contractors deal with additional work. It is also best to reserve an emergency pot of 5% for unforeseen costs.
4. Compare different loans. It is important that you pay close attention to the conditions: is it allowed to make extra repayments in the meantime? Do you pay a fine for this?
5. What is the ideal term for your loan? Of course you want the lowest possible interest rate; this is linked to a longer term. But what if you are still paying for your kitchen in 10 years time while you are already on a new one? Or even moved? Then you still pay for a kitchen that you no longer enjoy. A waste of your money and quite demotivating.
   A longer term is linked to a lower interest rate, but at the end of the journey you still pay more interest than with a shorter term. So compare extensively on term, interest and consider carefully how long you want to use the kitchen.
6. Also check your insurance policies. You may want to have a new kitchen insured with a higher amount / more extensive coverage on your home and contents insurance.

We wish you a lot of living and cooking pleasure with your beautiful new kitchen!