After years with the same furniture would you like to renew your furniture, making it more modern or more congenial to your needs today? Are you wondering what would be the best solution? In this case you can request a Furniture Loan. This type of financing is included among the personal loans and can allow you, by postponing the amount to be paid, to have the necessary liquidity for your needs.
What do you need to know to apply for a furniture loan?
This funding can be divided into loan finalized or not finalized loan. If we talk about a finalized loan this will be provided by the reseller himself, who, by establishing an agreement with a financial institution, proposes to his client the activation of the loan. If, on the other hand, we talk about a loan that is not finalized, it is the buyer to request the loan from a bank or a credit institution. Once the loan has been granted, the buyer will find the requested sum credited to his account, after which he will pay it to the seller for the purchase of the furniture and repay the loan to the financial institution, according to the installments provided for in the amortization plan.
What are the conditions for obtaining a furniture loan?
This type of loan does not require specific requisites, except for a certain income and a credit position of the client that requires the financing to confirm an adequate financial reliability.
The amount that will be disbursed is a maximum of € 30,000 while as regards the timing of issuance of the loan this could vary depending on the bank or financial institution chosen.
The law also provides that the consumer can effect the early repayment of the loan. If it is decided to choose this option, in addition to the repayment of the remaining capital, the consumer could pay a penalty that must not exceed, by law, 1% of the financed capital; the exact terms of the penalty will be reported in the contractual conditions that have been signed.
In the event that the need arises to carry out renovation work in your home, as well as to renovate the furniture, it is possible to resort to a loan solution for restructuring that allows you to get more credit than that available for this type of loan.