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Video: Fund renovation: tips
Would you like to finance your renovation with a loan? To have the security entered in the land register makes sense for several reasons.
What do I need the entry in the land register for?
If you take out a loan for renovation or new construction, the security for it is newly entered in the land register. There is also noted the ranking relationship of your loan to other charges or obligations on your property.
Rankings: Land charges are in section III of the book. Previously registered rights take precedence, as do rights with a lower registration number. If a piece of land is used, the right must be satisfied primarily in the higher rank.
Saving: LBS secures your home loan in the land register as a subordinate - without the surcharges that banks usually charge for subordinated loans.
Tip: If you have paid off the LBS loan for the purchase, do not let the land register entry be deleted. If you want to renovate later, LBS can use it to secure future loans - this saves fees.
In this post you read:
- Carefree thanks to home loan
- Calculation example
- Expert advice