The interest-only loan is almost unavailable.
For people with a rental home, it is even completely out of the question to get a repayment-free loan. For people with a owner-occupied home, a repayment-free loan is almost impossible. In any case not at the banks where credit competitor can place loans. We must also say that we welcome this development. Borrowing money and only paying the interest is therefore almost impossible.
What is an interest-only loan?
A repayment-free loan is a loan that you only have to pay interest for. You determine the repayment of the loan yourself. It is therefore a form of credit with an incredibly low monthly payment. This is because you do not pay a refund per month. It is a form of borrowing money that has been incredibly popular in the past. In addition to the interest-only loan (which virtually everyone could get), savings policies were sold to repay the loan after 15 years or more.
These policies were mostly the policies we now know as the usury policies.
Because the proceeds of these usury policies are in many cases much lower than the loan, one can stay with a residual debt.
What to do if you now have an interest-only loan?
If you currently have an interest-only loan, you will see that you have to pay money every month, and the loan amount will not be lowered. Often you also pay a substantial interest for this interest-only loan. As a result, it may be that you have a loan of, for example, € 25,000 to which you have to pay € 200 or more per month. And where you also do not solve anything. If this is the case with you, applying for a new loan can be a good solution.
We look forward to working with you to find the best solution. You must then realize that this is very likely to mean that your monthly installment will be higher. However, it is true that you will also pay off in your credit. You will see the outstanding balance of your loan fall a little each month. This can be a huge satisfaction.
Advantage of repaying your interest-only loan
It may speak for itself. But we think it is important to name it. The big advantage of increasing your monthly installment with a repayment-free loan is that you will repay your loan. This means you will pay less interest on your loan. And the less interest you pay on your loan, the sooner you have repaid your loan. Paying a repayment-free loan can save you hundreds and perhaps thousands of euros.