Each of us wants to live in a clean and comfortable apartment, the repairs and furnishings in which are made taking into account our desires. But in order to achieve this, it is necessary to invest a large amount of money in repairs, but what if there is a desire to change the interior, but there is no money? That's right, there is only one proven way to find the right amount - this is to apply for a repair loan at one of the banks.
Preparation of estimates for repairs
Going to a bank for a loan is a responsible matter and requires careful preparation and deliberation. And the main point is to correctly make an estimate for repairs so that you can accurately estimate the amount you need.
It is important to consider not only the cost of building materials, but also the pay for the work of workers who will bring your wishes to life. And if you do not have such experience, then ask for help from a familiar foreman or a company specializing in apartment repair. There you will not only make a construction estimate, but also indicate missed moments on your part.
What you should know
Before you take out a loan to repair an apartment, you must go through certain stages. Any borrower who wants to take a large sum of money must consider all sorts of options, as well as remember the risk that he may face.
As a rule, today there is a tendency: the larger the amount of money, the higher the risk percentage from the bank, as a result of which rather strict and stringent requirements and obligations are imposed on the borrower, which he must observe throughout the entire lending period .
Mandatory documents to provide
First of all, in order to receive such a large monetary loan, the most obligatory document will be a certificate, another type of document in which all the full characteristics of your solvency will be given and stated.
If you take a loan as an individual, then in your case it is just a statement of income. If you take a loan as a legal entity, then you need to submit a statement of income for a certain period of time. Since you need to take a loan for repairs, we will provide a package of documents as an individual. The income statement must be in 2-NDFL format, usually banks themselves issue forms to fill out for potential borrowers.
Guarantee
The next prerequisite for receiving a large amount of money is the availability of guarantors. Your guarantors must also collect the necessary documents, one of which is a statement of income.
In the event that the guarantors have a stable and high source of cash income, only then can it play this role. So, it will be the guarantor that will transfer all the main responsibilities if the borrower cannot repay the loan for the amount of money taken. But one should also remember the fact that each bank sets its own individual requirements for citizens who act as guarantors. The main ones are: age and seniority.
Provision of property as collateral
Some banks apply in their practice this type of condition as collateral. This direction will be used if the borrower for some reason will not be able to pay the loan. Basically, the value of collateral is not fully estimated, but only 70% of the total amount is characterized.
What form of loan to choose?
Before you go to the bank, you need to determine the exact amount of the loan for repairs that you need. After all, there’s no reason to overpay the extra interest for the amount that will be taken in vain.
Here are the main forms of loans that you can use:
- get a credit card;
- take a non-targeted loan for personal purposes, providing real estate as collateral;
- get a consumer loan with the assistance of a guarantor;
- take a consumer loan for a specific purpose - repair;
- take a regular consumer loan.
Much depends on individual conditions. So, if you have a small apartment, and you plan only redecorating, then it will be the best solution for you to take a consumer loan for home renovation. But if you own a large apartment, then this form of loan is not suitable for you.
Currently, a syndicated loan is in great demand, with which you can also get a pretty decent amount of money. The main feature and feature of this type of lending is that not one banking organization, but several, take an active part in its operation. Based on such a mechanism, it is possible to get the right amount of money, which one credit organization cannot provide for certain reasons - they are prescribed in the legislation. All that is needed for such a loan is to have permission and consent to access the foreign market, which must also be certified by a notary.
Microloans - is it worth taking?
One of the easiest and fastest ways to get the required amount of money is to contact microloan organizations. In such a situation, you only need your passport, no guarantee is required.
But whether it is worth taking a loan to repair apartments in such organizations, this is a big question. After all, there the interest is much higher than in a regular bank, and the debt repayment terms are much shorter.
So think twice before contacting such an organization. In case of any financial problems, you run the risk of making yourself not only problems with the return of money, but also run into collectors. But this option is also possible if you do not repay the loan to the bank.
Featured Banks
So, you are determined to apply for a repair loan and decide which bank is more profitable to do. Here is a list of banks that provide this form of lending:
- "Alfa Bank". Here, the amount of a consumer loan for apartment renovation can reach 1 million rubles, and there is no fixed interest rate. It is set based on the amount of your income, the reliability of documents and a positive credit history. The maximum loan term is five years.
- Sberbank The lending conditions in this bank are somewhat better - when you provide a guarantor, you can borrow up to 3 million rubles for up to five years, the interest rate ranges from 13.9 to 21.9%. Without a guarantee, up to 1.5 million rubles are available to you at an interest rate of 14.9-22.9%. The loan term is also equal to five years.
- "VTB 24". This bank offers borrowers loans up to five years without a guarantee. The interest rate is set individually from 14.5%.
- Renaissance Bank. This bank practices an individual approach, the interest rate and term of the loan vary from 15.9% to 27.7%. The loan term is from 2 to 5 years and is determined individually by the bank.
- Russian Agricultural Bank. This bank has one of the best lending conditions - the maximum interest rate is 18.4%, and the amount issued on credit reaches 1.5 million rubles. Also, a loan is not required, the loan term in the bank reaches five years.
Take lending seriously, consider your strengths and capabilities.
Finally
If you want to get a loan for a large amount of money, carefully read all the features, see all the options, and then choose what suits you the most.