Do you need a loan for renovating your residential property?
Kredium helps you find the best solution
Kredium has a wide network of partnerships
| Types of Loans |
|---|
| For renovating a residential property, you can choose from two types of loans |
| Cash Loan |
| Lower amount |
| Higher interest rate |
| Faster processing |
| Lower processing costs |
| Less collateral (only a promissory note) |
|---|
| Cash payout |
| Construction Loan |
| Higher amount |
| Higher processing costs |
| Greater collateral (mortgage on the property) |
| Payments based on pro forma invoices |
What are the special conditions for disbursing a renovation loan
- A legally valid decision authorizing renovation and reconstruction of the property
- A bill of quantities and a cost estimate for the work prepared by an authorized person with a license from the Engineering Chamber of Serbia
- A contract for the execution of the work and/or pro forma invoices or invoices
How does the Kredium platform help you?
Submit an application
Sign up on the Kredium platform
Submit both requests
Request for a cash loan and Request for the renovation of the residential property.
Get an estimate
Banks will provide you with offers for both loans if you meet the requirements
Advisor's assistance
Our advisor will help you determine which option is better for you
Free service
Our service is completely free
Time-saving
We save you 2-4 days of walking around banks
Completed Loans
So far, our credit advisors have completed over 5,000 loans during their careers and processed loans worth over 50,000,000 euros.
Over
€5,000,000
Value of processed loans
Over
5,000
Realized loans
What people say about us
Adviser Jelena helped me understand what it takes to go through the process of obtaining a loan, which documentation to collect, etc., and how to choose the best offer for myself. I'm delighted with the service Kredium offers. Thank you for existing!
Nikolina Zoric
Excellent service and a great team! They helped me take out a loan and I want to thank and recommend Danijela, the cash loan adviser at Kredium.
Nikola Mijailovic
Excellent communication, work and cooperation. All praise for the idea, realization and advisor Marko Matić.
Tanja Milojevic
Credit advisors were there to help me choose the best offer for me, as well as to help me understand the entire process.
Nikola Bojanic
Great team and the best real estate agency in Serbia! One of the few that provide a solution for everything related to non-chains. Well done!
Marko Krsmancic
Frequently Asked Questions
What is a home renovation loan?
A home renovation loan is a purpose-specific loan granted to finance the adaptation and restoration of an existing residential property, such as renovating an apartment or a house. This loan can cover various costs, including repairs, equipment replacements, cleaning, and more.
What types of home renovation loans are available?
You can apply for a home renovation loan to finance the renovation of your apartment. This loan covers expenses needed for apartment refurbishment, including replacing installations, painting, installing new floors, or even completely changing the layout of rooms.
Can I take a loan for home renovation?
Yes, you can take a home renovation loan. This loan is specifically intended for the renovation and improvement of residential space, whether it involves external or internal adaptation, such as roof repairs, window replacements, bathroom modernization, or expanding the property.
What are the advantages of home renovation loans?
home renovation loans offer benefits such as lower interest rates compared to other types of loans, the possibility of a longer repayment period, and more favorable terms for performing major repairs.
How is a home renovation loan approved?
To get approval for a home renovation loan, you will need to submit a renovation plan and a cost estimate, as well as proof of income to demonstrate your ability to repay the loan. The bank may also require an appraisal of the apartment's value and its current condition before making a decision.
What are the requirements for getting a home renovation loan?
To qualify for a house adaptation loan, you typically need to have a stable income, a positive credit history, and provide a detailed adaptation plan. Additionally, the bank may require collateral, such as property, as security for the loan.
Can we get a home renovation loan if we have a bad credit score?
If you have a bad credit score, banks may be more cautious in approving home renovation loan, but it is not impossible. You may consider using a guarantor or providing additional collateral (such as property) to increase your chances of loan approval.
Can I use a home renovation loan for any type of work?
Yes, a home renovation loan can be used for a wide range of works, including repairs, energy efficiency improvements, window replacements, as well as larger projects such as building or expanding the property. However, banks may impose restrictions on the type of work that can be financed.
What is the difference between home renovation loans for house renovation and home renovation loans for apartment renovation?
A home renovation loan for house covers larger projects that involve both exterior and interior changes to residential properties, while home renovation loan for apartment renovation is more specific to smaller investments and changes within the living space, such as adapting a kitchen or renovating a bathroom.