A garden design can be very expensive. This applies regardless of whether an already existing garden is to be redesigned or a new garden is to be created. For this reason, it is very difficult for many people to cover the costs of garden design from their own income. Here it is necessary to consider different types of financing, including a gardening loan. Such a loan can be taken out at many banks. In addition, you have the choice of whether you would rather take a construction or real estate loan or a normal installment loan. In addition, there are various alternative financing options, including an installment agreement with the craft business, a foreign loan or a personal loan.
Construction and Real Estate Loan
All construction and real estate loans are earmarked and can also be used to finance a garden design. One advantage of these loans is that interest rates are relatively low compared to other loans. In addition, the terms are very long and the amount of installments can be largely agreed individually.
Basically, you should inform yourself exactly before you want to take a construction or real estate loan. The conditions of the banks that offer these loans are sometimes very different. Also, the uses may be limited. The house bank is not always the best contact when it comes to finding a suitable construction or real estate loan for your project. Often, other banks offer significantly better terms.
Installment and consumer credit
An installment or consumer loan is the most common type of loan. He is on offer at almost all banks. The loan amounts can vary significantly. They depend not only on the terms of the bank, but also on the personal and financial conditions of the borrower. If you only earn an income that is just above the seizure threshold, you will not be able to get a gardening loan that is in the high five-digit or six-digit euro range.
Unlike a construction or real estate loan, there is no earmarking for a installment loan. For this reason, it should not be a problem to use the money for a garden design. Once the loan is credited to your account, you can use it to pay for the craftsman bills.
The most important prerequisites for obtaining a loan are a good and safe income, as well as an impeccable credit burea, and if there are negative entries, it often means that you can not get credit for garden design. This applies at least to German banks. Foreign banks generally do not check the credit burea information. Here only the income counts, which must be at least partially attachable. This is only possible if the income is so high that it exceeds the current seizure exemption limit.
Alternatives to bank credit
An important alternative to a bank loan is a personal loan. He enjoys great popularity and can be recorded not only in his own circle of friends or relatives, but also on a loan portal on the Internet. Here there is the advantage that the loan conditions between the persons involved can be negotiated individually and are not subject to any strict legal requirements. This is a significant difference to a bank loan. Before you register on a credit portal, you should think about how much money you need for landscaping. If the loan amount is high, it does not necessarily have to be from a single person, but can also come from several people, each contributing a partial amount to the total.
If you can not get a gardening loan, you may have the opportunity to talk to the crafting company and arrange for installment payments. Many companies understand this and will surely grant you the installment payment. However, you should not act arbitrarily, but only pay installments if you have been expressly granted them.
Private credit intermediaries
If you do not want to look for a gardening loan yourself, as you find this procedure too costly, you can also hire a private credit intermediary. He will do his utmost to provide you with a suitable gardening loan, provided your credit rating is in order. If a credit intermediary claims that anyone, regardless of their financial circumstances, can get a gardening loan, he’s certainly dubious. Also, it is strongly discouraged that you pay any pre-cost or conclude Bauspar- or insurance contracts in connection with the borrowing.
If you are looking for a private loan broker you should use the internet. Many private credit intermediaries already have many years of experience and know the credit offers at home and abroad very well. This will allow you to realistically assess where and under what conditions you can take out a gardening loan.
Application and authorization – repayment of the loan
Regardless of the type of loan you ultimately choose, in many cases the process of applying for credit is almost the same. You must complete a loan application and send it to the lender. To do this, you must enclose various documents to prove your creditworthiness. These documents are proof that you are in a permanent employment relationship and that you receive a regular income. Persons with a fixed-term employment contract can only receive a loan for garden design in so far as the term of the loan can not extend beyond the end of the term of the employment contract. The situation is different if there is a second application or a guarantor who fulfills all credit requirements. If the lender is a German bank, credit burea information will be requested after the loan application has been received. Otherwise it is waived.
Once the gardening loan is approved and the money is credited to your checking account, you can use it for landscaping. In a construction or real estate loan, the bank requires a proof of use, in a rate or consumer credit, however, not. In this case, you do not have to notify the bank that you have used the money for the garden design.
The repayment of a gardening loan is made in installments similar to any other loan. The amount of the installments varies, depending on how high the loan amount, how long the term and how high the borrowing rate is. The installment begins and ends at the agreed time.