Renovation loan – what to remember before taking itOn November 22, 2019 by Manuel Laforce
Do you dream about changing the interior of the apartment? See what a loan for renovation is and what to remember before signing a contract with a non-bank company.
A loan for refurbishing an apartment can be a salvation for many of us. Do you dream of renovating an apartment? Surely you know that this will be followed by considerable expenses. Painting, changing tiles in the bathroom, buying new furniture for the living room is a considerable financial challenge for which we must be prepared before refurbishing the apartment.
Payday loan for home renovation is sometimes the best solution for many of us. If we do not have enough money, it is worth getting acquainted with the offers of non-bank companies that offer long-term installment loans. In an emergency, the loan can save the customer without unduly damaging his home budget. An online loan is a simple and quick way to get money up to 15 minutes after applying for a loan. Without unnecessary formalities, we can get money from the loan to our bank account. In this case, installment loan offers are worth paying attention, thanks to which we can spread the repayment of liabilities over several months.
Loan for apartment renovation
Getting money into a bank account from a potential lender is not difficult. If our name does not appear in the databases of indebted persons, e.g. in the Economic Information Bureau or the Credit Information Bureau, we can confidently apply for a loan from a non-bank company. Of course, every lender sets its own specific conditions to be met by the company’s future client. We are now able to get a loan online, without leaving your home. Without unnecessary formalities, guarantors or certificates we will get money up to 15 minutes from the moment we receive a positive decision on granting a payday loan online. Loans available on the financial market in Poland can be used for any purpose. The borrower does not have to explain himself to the loan company, for which he will spend the obtained money from the loan.
What to do to get a loan?
The first step to getting a payday loan online is to do some research on the financial market in Poland. Currently, we will find a lot of offers of loan companies that offer both long-term loans, with the possibility of spreading them into equal installments, or short-term payday loans online. After choosing the right company, you should read both the terms of service and the lender agreement. Document templates are usually available on the company’s home page. If all loan terms suit us, we can start the loan process. On the lender’s website we will find a virtual calculator, on which we choose the parameters of the loan that suit us. Often the cost of the loan is shown on the calculator. We can check, among others loan installment, interest rate, or its APRC. The next step is to complete the form in which we are required to provide personal data found on your ID card. The basic conditions that the borrower must meet are Polish citizenship, owning a bank account, valid ID card, and permanent residence in Poland. After sending the loan application, we will have to wait for the lender’s decision. If we get a positive answer, the loan money will appear in our bank account.
Renovation loan – payday loan or installment loan?
You probably wonder what will be better for you? Instant payday loan or installment loan? It will certainly depend on several factors. If the renovation of the apartment does not require a large financial contribution, we can opt for a short-term loan. Some lenders offer payday loans online for PLN 0. The applicant can get a loan for free if he / she takes it for the first time. However, the costs of repairs can be much higher than the maximum amounts of payday loans offered, which can be found in non-bank companies. If you are forced to take out a loan for over 5000 PLN, you should look for a reliable company offering installment loans. We will not have to repay the commitment in one installment, and it is enough to divide it into several equal months.
Creditworthiness – how to calculate it?
Before taking an installment loan from a non-bank company, it is worth checking your credit standing. It means checking the amount of achieved, solid income that the borrower receives. Information on the monthly income received informs the company that the customer is able to repay the entire loan within the prescribed period. Thanks to this, the applicant has a chance to get a positive response from the lender. When verifying the customer’s creditworthiness, income from employment contract, mandate, retirement pension, disability pension, and maintenance is most often assessed. In addition, the company checks active loans. In addition, each lender verifies its customers against indebted databases in order to check its credit history. Applicant’s data are verified in databases.