Make the repair of the apartment “forever” will not work, because everything has its time. Sooner or later, the darkened wallpaper, worn out tiles and the darkened ceiling will want to be replaced, and this will require a lot of money and money. Well, if there are free savings. And if there are no accumulations, or they are obviously not enough for everything planned? Get out of the situation easily by taking a loan. About the loan funds to repair the apartment and talk.
Available lending methods
The following types of loans are taken for repairs:
Its main advantage is that the bank does not control spending. The borrower can buy everything he needs with earthly funds. Money in cash in 75% of cases issued immediately. The procedure for receiving funds in debt will consist of three stages – the search for a credit and financial institution (CFD), the calculation of the required amount, the collection and submission of a package of documents. We’ll have to get a certificate of income from work, prepare an IIN and a passport. An application for a loan is submitted personally at the bank. With a good credit history, this type of loan is the easiest to get.
Important! Cooperation with the bank does not provide guarantees, collateral. Untargeted loans have drawbacks – a small amount in a loan (30,000 to 1.5 million rubles) and a loan term, high interest rates due to the increased risks of the bank (monthly commissions are possible).
Its main advantage is that the financial institution with the construction and repair company, which undertakes to perform the work, will decide the cash costs. But for this, it must first be found, the working points discussed – the amount of work, the desired result, etc. With a targeted lending form, the borrower needs to sign a formal contract with a repair company that will estimate the work. A financial institution will work with her.
In order to get a loan, the borrower needs to write an application to the bank for a loan, provide a package of documents along with the estimate. It will be necessary to prepare: an agreement with a construction company, an approved estimate, a certificate of income from employment, IIN, passport. The application for registration is submitted personally at the bank. As soon as the repair work is completed, the borrower must provide the CFA with an act on the work done – confirmation of the targeted use of funds.
Important! Credit can be taken on the security of property or without collateral. In the second case, the interest rate will be higher, but lower than when you make an unauthorized loan.
- Non-earmarked loan secured.
Its main advantage – savings on interest rates, do not need a report on spending. If there is a pledge, the CFA will be able to issue more than 3 million rubles to the borrower. But the borrower will need to pay for the additional services of an appraiser, an insurance company, etc. A loan application is filed under the same conditions as a regular non-target loan.
So what is the lending method to choose?
By capital and even redecoration apartments are always preparing. They save money, look at the performers, materials, etc. Therefore, before choosing a credit and financial company or signing an agreement with it, it is recommended to consider the following:
- Will there be enough personal funds for repairs, are they?
- What amount is not enough to complete the repair and construction work?
- Who will carry them out – a private owner or a construction company?
- How much time can an apartment owner spend on a loan, collecting papers?
- What is the loan repayment term for the borrower?
- What amount will the apartment owner be able to pay monthly on debt?
Important! To answer the above questions you need to know the cost of repairing an apartment and really assess your capabilities. With the calculation of costs and scope of work will help the construction and repair teams, firms. It is worth consulting several.
Target loan is profitable to take on the repair of a new apartment (living space in a new building), when significant targeted spending is foreseen. In this case, the conclusion of a contract with a construction company will also be justified. But we must bear in mind that the timing of a loan can take a few days. When making a target loan, you need to remember that the majority of Russian banks cooperate only with certain construction and repair firms and vice versa.
Non-earmarked loan is more profitable with a shortage of own funds. Registration of the application and the decision on it the bank will issue within a few hours. The borrower does not need to provide additional papers, to confirm cooperation with the repair teams. The process of receiving funds will take no more than a day. There is also an alternative option – contact a microfinance organization. Loans are made online, but the amounts are small – from 5,000 rubles to 100,000 rubles.
What steps need to go to get a loan to repair the apartment?
To summarize all of the above. To take a loan, you must:
- Find out the cost of repairs. Usually, another 5% is added to the sum of the calculated construction crew.
- Select the type of lending.
- Find a financial institution that has the most advantageous loan program for the population.
- Find out whether the borrower meets the requirements of the bank.
- Find out which package of documents the borrower needs (each CFD has different requirements).
- Collect paper, personally visit the bank branch.
- Apply for a loan. Wait for the decision.
- Get borrowed funds.
- Regularly fulfill the obligations imposed on the loan.
- Provide a statement of work performed if the target loan is selected.