Borrowing money, costs money

Financing the dormer

You want more space on the top floor; placing a dormer window can make that happen. An attic space with a sloping roof often becomes a fully-fledged room after installing a dormer window. How do you finance this renovation? Many consumers choose a loan as financing for this loan purpose. We are happy to advise you which loan form is the best choice in your situation. The costs for the purchase and installation of dormer windows can add up. With a loan you can pay off the costs per month at a low interest rate.

Personal Loan or Revolving Credit

Do you opt for a Personal Loan or for a Revolving Credit? Most people opt for a Personal Loan to finance a dormer window. This loan form provides security because of the fixed interest, term and monthly charges. You choose a Continuous Credit if, for example, you not only want to finance the dormer window but also want to have extra money on hand that you can then use flexibly. Take into account the fact that the interest is not fixed but variable.

Tax benefit with Personal Loan

You are eligible for deduction of the interest costs if you opt for a Personal Loan and if that loan is intended for home improvement. This tax benefit applies to a Personal Loan that you use to purchase, improve or renovate your own home. A Revolving Credit does not have this tax benefit. You may make interim repayments and repayments on both a Personal Loan and a Continuous Credit.

Installment purchase

Sometimes the supplier of the dormer can offer purchase on installment. Arranging your purchase and financing in one place, that's efficient. But it is an expensive form of financing . The interest you have to pay is high: the lender sometimes charges 14% interest, the maximum legally permitted rate. And what are the associated conditions? Redemption without penalty is not always allowed. With both a loan and with an installment purchase, you pay monthly costs in arrears for interest and repayment. The difference is in the calculated interest rate and the conditions.

Co-financing with a mortgage

Until recently, co-financing a dormer window with a mortgage was a frequently chosen option. As of 2018, this is no longer possible, as the maximum amount to be financed for a mortgage has been reduced from 101% to 100%. For renovations and financing the costs of the buyer , the buyer will have to turn to other financing options or use his own money; the increase in your mortgage is a thing of the past.

The disadvantage of financing with a mortgage compared to a loan was the long term (30 years) and interim repayments without penalty was not always possible .

Advice and quotation

Do you want to have new dormer windows installed? Contact us by email or call us at 491 547 0576 and we will discuss the financing options we can offer you. You can of course also request a no-obligation quote directly online . You will then receive a customized proposal within 24 hours. Our interest rates are low, the terms and conditions of our loans are favorable and you do not pay any closing and advice costs.

What do customers say about our services?

735 Customers rate abdallahka.com with a 9.6 on Trustpilot

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Everything arranged quickly within two days so that we are cheaper.

Caroline 7 days ago
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Everything arranged super fast. Application made on Monday afternoon, had to send in a few more documents on Tuesday and the money was in the account on Wednesday. Absolutely great!

Mr. M. van der Meer 7 days ago
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