Financing costs for buyer in 2020: what options do you have?
Gone are the days when you could finance all the costs and expenses associated with your owner-occupied home through your mortgage. Since 2018, you may take out a mortgage for a maximum of 100%. Consumers have since had to turn to other financing options for the purchase and financing costs of their home (the so-called buyer costs). We see that many people take out consumer credit as a result. A great alternative, as we show below.
Consumer credit as a solution
Taking out a personal loan, the most common loan form of consumer credit, to finance your buyer costs is a good solution: you pay a fixed low interest during the entire term, which is also fixed. Your monthly amounts are also the same here; that provides overview and clarity in the financial field. The buyer costs can easily rise, so a financing option such as a loan is a nice option: you can pay the buyer costs directly and you pay off the loan in monthly installments.
Would you also like to finance the renovation?
Do you have renovation plans for your new home? Because the mortgage is increasingly a financing for the purchase of the house alone, you can also take out a loan for renovation costs of the house . If you borrow for a new kitchen or bathroom or a dormer window or extension (you 'improve' the home with this), the interest costs of this loan are tax-deductible. So thanks to a loan you benefit from a tax benefit.
You can request a no-obligation quote online for the financing of your buyer costs, the renovation or another loan purpose . You will receive a proposal in which all amounts, interest and maturities are clearly listed.