Is it profitable to take a loan secured by the apartment?

When the proposals of banks on consumer loans are insufficient to implement your plans, then the availability of real estate, such as an apartment, can help you out in the current situation.

Credit secured apartment

Accordingly, the provision of its real estate as a deposit significantly reduces the risks of the bank, since in the case of repeated overwhelms or stopping the debt payment, the lender will be able to implement a deposit and repay the borrower’s debt.

More often lenders issue consumer loans without collateral provision worth not more than 1,500,000 rubles. The term of such a loan is usually from 5 to 7 years. Such conditions are not suitable for everyone, and the pledge can increase the cost of the loan at times.

The loan secured by the apartment provides money to the amount of up to 80% of the value of real estate, and the credit period can reach up to 20 years.

Credit secured apartment

To talk about the benefit of this type of lending, it is necessary to say about the lack of deposit of the apartment.

Summarizing said, we come to the conclusion that