Roof renovation loan – Inform yourself!

Refurbishment work on or on the roof has a positive effect in many ways. The value of the property is increased and heating costs are saved at the same time. If a roof is expanded, additional living space is created that can be rented. A loan for a roof renovation is offered by many banks.

Many older properties in particular are often in need of renovation

Many older properties in particular are often in need of renovation

If you own an older property, you have to pay a large part of the heating costs. Around 80 percent of the variable costs are due for heating. Old heating systems, poorly insulated walls, windows and not least the roof are responsible for these costs. Roofs on old properties are either not at all or only insufficiently insulated. Old, porous bricks let moisture and cold penetrate into the house. Roof renovation can help reduce these costs.

If you need a loan for a roof renovation, you can either contact the house bank, a direct bank on the Internet or the responsible mortgage lender. If the renovation is eligible, the loan for the roof renovation can also be requested from the credit bank for reconstruction.

A roof renovation will require medium and long-term loans

A roof renovation will require medium and long-term loans

A roof renovation is in most cases a very complex and costly investment. If the costs are less than 50,000 dollars, they are usually not financed through a mortgage loan. In order to get an overview of the possible costs, offers from various craft businesses should be obtained. These offers make it easier to estimate the costs involved. They also make it easier to select a loan and make a loan comparison, since the required amount has been determined.

With an online loan, different loan models can be calculated independently with the loan amount and different terms. Due to the high credit requirements, many different loan providers should be compared with each other and borrowing should not be rushed. Since a loan for a roof renovation is a medium and long-term project, every opportunity must be exhausted to obtain a cheap financing loan.

Energy savings are promoted with government funds

Energy savings are promoted with government funds

In many cases, roof renovations can be funded, at least in part, with government funds. This is the case when measures are taken to convert and expand a roof that enable energy savings. A loan for a roof renovation is provided directly by the house bank, the mortgage lender or the loan provider if the renovation is eligible. The financing company applies for the funding directly from the Reconstruction Loan and offsets the funding directly against the loan. As of March 1, 2013, repayment grants can also be requested from the financing bank for KfW’s investment grants. The bank also applies for these grants.

Add a Comment

Your email address will not be published. Required fields are marked *