An improperly insulated or even ailing roof often causes an immense loss of heat. If moisture penetrates, mold fungi, for example, can spread. Accordingly, renewal of the roof is urgently recommended in such and similar cases. However, since this is usually associated with high costs, this is usually requested for a loan.
Renew the roof?
Whether it is really necessary to renew the roof is best clarified with the help of a roofer.
But just because, for example, some mosses and algae have spread to the roof tiles, it is far from necessary to renew the roof. On the other hand, it looks quite different when it rains, for example, or when damp areas form.
In order to be completely sure, whether a roof renewal is necessary and which measures should be carried out if necessary, it is advisable to consult here a roof expert. An independent, best TÜV-certified expert is able to record the actual condition of the roof and show any damage. He will then explain what action is necessary for what reason.
By doing this, literally “two birds are killed with one stone”: on the one hand, it prevents you from carrying out any work that is unnecessary and, on the other hand, makes it possible to get an initial overview of the costs involved.
Depending on the roof size, the costs for a roof renovation, including energy-efficient renovation, can amount to about 30,000 euros.
As a rule, it is necessary to re-cover the roof every 20 to 30 years. On average, this costs about € 100 per square meter. If an insulation is also planned, it is quite possible that it will cost up to 200 euros per square meter. Depending on the size of the roof, a price of around 30,000 Euros can be achieved in case of a roof renovation, in combination with an energetic refurbishment.
In general, two loan types are eligible for the renovation of the roof: the mortgage loan and the modernization loan.
To finance the roof renewal, various types of credit can be considered. For example, it may be possible to realize the project through a mortgage loan. However, as a rule, such a loan has already been taken out to finance the purchase of a home. However, to be able to take out a second mortgage loan, the first must already be redeemed by at least 80 percent. If necessary, a new mortgage will be entered in the land register by the notary after the loan application and approval of the bank. Accordingly, additional costs must be expected here. However, such a loan is a reasonably priced loan, making such a deal worthwhile.
As an alternative to a mortgage loan but also offers a modernization loan. Such a loan can be taken up even if a loan is already paid off. The modernization loan is generally only given to property owners, but does not enter the land register. Since this is also a purpose-based loan, applicants usually benefit from favorable interest rates. While these may be higher than mortgage lending, interest rates are usually lower than a traditional installment loan.
Homeowners who want to improve the energy efficiency of their home are often supported by the bank.
Borrowers who want to improve the energy efficiency of the home benefit in most cases from a variety of funding opportunities. These are mainly awarded by the ank. The bank issues cheap loans as well as investment grants.
However, such a loan can not be requested directly from the bank; this is usually done through the bank, where the actual modernization loan or mortgage loan is awarded.
In order to obtain a loan, it is necessary to fulfill the most diverse conditions. If this is not the case, a second borrower or a guarantor can be involved.
But no matter what loan is applied for, the prospective borrowers must meet a variety of conditions. By default, this requires, for example, a secure, fixed income is needed. Furthermore, a German residence and a German checking account are also usually important. In addition, a good credit rating and a positive creditor report are indispensable.
However, if, for whatever reason, it is not possible to meet the various requirements of the banks, it is usually possible to obtain the desired loan with the help of a guarantor or a second borrower. However, then, of course, the respective person must meet the various requirements. Furthermore, the guarantor or the second borrower must be fully aware that in the event of a default by the actual borrower, he must settle the entire remaining debt.
Compare and save
By comparing the various loan offers and the various special services of the banks can be saved in most cases a lot.
Before deciding on a particular roof financing, it is advisable to get various offers from various banks.
However, it should be noted that these do not ask for a loan, but a request for a quote to the banks. Because the latter is not stored in the creditor and therefore can not have a negative impact on your own credit rating. When a loan request behaves differently: This is stored in the credit agency. If several credit inquiries are deposited there, this can give the impression that the desired loan has been rejected several times. As a result, the banks are more inclined to reject the loan request. Thus, the own credit rating deteriorates.
Since the various credit offers of the banks usually differ significantly from each other, here in most cases a not to be despised savings potential is given. Even a few percent can make quite a difference of a few hundred euros.
It is also worth taking a look at the special services offered by most banks. In addition to a variable repayment rate, this also includes a suspension of a monthly installment as well as free special repayments.
For example, the latter contributes to reducing the loan amount and thereby saving interest. If such an agreement has not been contractually agreed and one nevertheless wishes to make a special repayment, then a fee, the so-called prepayment penalty, must be paid.
On the other hand, suspending a monthly installment, such as when the refrigerator suddenly goes on strike and a new device has to be purchased, can provide some financial flexibility without endangering the payment of the loan.
Thanks to a variable repayment rate, however, it is feasible to adjust the repayment to your own life situation: For example, it is feasible to increase the repayment when a salary increase in the house. If, on the other hand, there is an offspring, it can be helpful to reduce the eradication.