Mortgage or loan ? This is the question that many people, having to buy a property, ask themselves.
In principle the decisive factor is the available liquidity : for higher amounts the preferable solution is a mortgage, otherwise the option of a simple loan can also be evaluated.
In general the solution favored by the Italians for home-related expenses is the home mortgage. However, for some time there have been alternative solutions on the market: the credit institutions have in fact launched specific types of loans to finance the restructuring, furnishing and maintenance of the building.
Guidelines to guide the choice between mortgage and financing
If we want to give some , we must first consider the nature of the intervention and the expenditure that will have to be incurred.
For example, if the loan is to cover restructuring works of a certain size, the loan remains the best choice, considering that usually the maximum amount obtainable with a loan is generally 60,000 euros. In the case of more modest investments, perhaps related only to the renovation of the furnishing, the loan could represent an optimal solution that allows to lower or eliminate completely some obligatory expenses in the case of a mortgage (the preliminary investigation costs for the verification operations, the payment of the notary and so on) as well as reducing the time of disbursement and not implying mortgages on the asset subject of the intervention.
The procedures for applying for a home loan are certainly more streamlined; however, it is necessary to pay close attention to the interests of the loan, in particular Tan and Taeg (for the meaning of these and other acronyms linked to the world of loans.
Tax benefits are also a variable to take into account : certainly higher in the case of mortgages and also possible for the renovation of the house, but only if the intervention goes to make significant changes to the building.
Among the loans that offer home loans
Searchmes offers a Real Estate Credit for both home / box purchase and restructuring. No preliminary investigation fees, installment and stamp duty / replacement tax, loans up to € 60,000 repayable in maximum 120 monthly installments (TAN: 8.70% for amounts up to € 30,000, 8.80% for larger amounts). All with a digital signature.
Webu Alu, is another financial company that proposes Personal Credits dedicated to the purchase / renovation of properties up to € 30,000, repayable in 84 monthly installments, with a nominal annual rate of 7.10% for amounts up to 20,000 euros, 7.65% for larger amounts.
These are just some of the proposals currently available on the market: to find the most convenient solutions, you will immediately find the most advantageous offers of the moment to best respond to your needs.