Buying a property can raise some financial problems. Once you're in your apartment or house, it's sometimes difficult to deal with the unexpected. Credit can be a solution.
The house of your dreams is waiting for you, but the price makes you turn back.
At some point, everyone wants to feel fully at home; Owning your own house, apartment, etc. If possible.
When you're about to make this dream come true, you imagine every nook and cranny, you visualize the décor, you project yourself as a family, you plan the arrangement of the furniture...
And then one day, the opportunity comes your way, but you're doubting the price; Especially since you anticipate additional costs, the famous capital gains.
This is of course the case for a new construction, but if you are already a happy owner, think about renovating your existing property.
Let the work begin (with a work credit)!
Because who hasn't wanted to change their decoration? New desires are born every day.
And why not a new kitchen with a custom-made worktop, a tile or parquet floor that suits you, a walk-in shower, a new landscape to your garden and many other projects?
All of this requires skilled labor and comes at a price.
The reality of a budget is that it is scalable. So don't get too depressed when you discover the capital gains.
In reality, with the support of a loan (renovation), the financing of this work can be carried out quite simply. Of course, there is interest to be covered, but these are spread over time. If your financial situation allows it, why deprive yourself?
Obtaining your credit in just a few steps will depend on your file, we will ensure that it meets expectations and respects your means.
All the steps to follow are simple.
Do you need a notary? No.
Need to justify your work? No.
Need to pay an administrative fee? No.
Yes, but I manage my budget well in general. Little chance that I will surpass it.
And yet...
Based on the analysis of the economic and financial climate, the commodity market is highly volatile. As a result, the price of today's work may be different from tomorrow's.
Whether you're an individual or a business, it's common to have a fixed budget. However, the latter never covers capital gains on construction. That is, unexpected costs that add to the budget you have planned.
So, do we go back to the bank and a notary to get additional funds to cover these capital gains? No need!
If your financial situation allows it, you might as well take out a loan directly.
Are we still reviewing the basics of the mortgage loan?
Let us agree on what a mortgage is; A mortgage is a right of pledge of real estate, a right that ensures the possibility of having the property sold in order to be reimbursed.
How does it work? You will put together a file for a loan application, and the banks will assess its eligibility.
Once this application is validated, the mortgage is registered with the land registry, which gives the bank a right to the property as collateral for the loan.
Finally, like all loans, you will have to pay monthly instalments throughout the term of the contract. These monthly payments are made up of interest (mostly) and a portion of principal repayment.
So far, don't panic, nothing too complicated...
Nevertheless, your choice should be measured on the type of loan you want.
Should it be variable-rate, fixed-rate, or blended?
It all depends on your risk tolerance. The same applies to whether or not to include durations and amounts that are staggered in time, as well as whether or not the Saron is taken into account.
And obviously, you have to make enough money so that you can get into the subject. This is often 20% of the loan amount. This sum can, depending on the case, be made up of cash but also pledges on the second and third pillars.
In the end, it's not as simple as that...
I made it! I have my loan, my project is launched.
Now I'm told that I owe extra money!
We explained it to you; Capital gains are an integral component of any purchase or renovation project. When you start listing the budgets for the floor, the finishes, the paint, the bathrooms, the kitchen, the skylights... You will find that this is often the minimum expected with regard to the materials and at best, the standard.
Unfortunately, the loan is already signed, you have already had the funds to undertake your project. The feeling of having your back against the wall, and feeling discomfort is not pleasant.
After all, what's the point of aiming for your dream house or apartment to experience a nightmare?
So think about personal credit. Negotiate with your general contractor, your promoter, your craftsman, but don't be held hostage to a lack of resources that are relative to the investment as a whole.
Of course, you must avoid over-indebtedness at all costs and sometimes, some work will have to wait. However, if you can afford it, aim for simplicity, aim for a personal loan.
Milenia : Your tailor-made credit partner.
Whether it's in the constitution of the loan file, in the monitoring of eligibility and the acceptance of credit, our mission is to improve the lives of our customers.
As the leading credit provider in Switzerland, we aim for a simple process and demonstrate professionalism by advising you on the best choices. This is our responsibility.
We work every day to ensure total transparency in our exchanges. Everything is clearly explained and our advisors comply at all times and to the letter with the instructions dictated by the competent cantonal and federal authorities.
Each case is unique and we offer customization that goes beyond what you can hope for. Because your projects are also ours, we redouble our efforts to make your dreams come true.
Yes, you will have this custom-made worktop. Yes, you will have the tiles in the desired dimensions and yes, you will take your shower in the walk-in style! No added value on our part!
So that your desires are no longer held back, so that you are financially serene in your renovation projects, so that you can simply realize your vision.
Trust us and let us guide and advise you.
Remotely or in our offices, whatever your project, we would be delighted to listen to you and write a piece of your story, together.
We are at your service, from the sketch of the plans to the last coat of paint applied!
