Personal loans or mortgages : what better solution for the home? In general, both can be useful for renovations , while for the purchase we tend to prefer the mortgage or new alternative financing formulas such as leasing No credit check loans online.
Trying to take a close look at both types, it is clear that personal loans and mortgages have strengths and weaknesses in equal measure, and by analyzing the differences it is possible to understand the peculiarities that characterize them: as a general premise, we can say that the loan is aimed in the vast majority of cases at the purchase of a property, and there is a tendency to turn to a credit institution to request large sums: the personal loan, on the other hand, is preferred for a request for lower amounts, and similarly more amortization periods short during which to repay the sum paid plus interest.
Personal loans, advantages
There are many financial companies and credit institutions that offer personal loan solutions for home renovation, a proposal that also attracts Italians for the possibility of deducting expenses and enjoying the tax breaks provided by the State, for example for energy redevelopment. In summary, the peculiar characteristics of personal loans are:
A shorter duration than the mortgage
The loans provide for the disbursement of a lower amount and for this reason no guarantee is required on the property, except in special cases
There is no obligation to provide reasons at the time of forwarding the request to the bank, so the beneficiary can dispose of the amount disbursed in the manner he wishes.
Capital disbursement speed between 24 hours and 15 days
Concession without a notary, as a public act.