Loan for reconstruction of real estate, financing of reconstruction with or without collateral

The price level of the whole project is a very important criterion for selecting the appropriate way of financing the reconstruction of the property. For the “lower” scale, either mortgage financing is impossible or expensive. On the other hand, in the case of high-priced action, a mortgage is better in most cases.

In addition, if the borrower is in a situation inviting the use of a Mirror Mortgage, the choice is almost clear. Then just choose a suitable bank.

Forms of reconstruction reconstruction

money loan

Mortgages Read article 1 / Loan / intermediate loan from building savings
2 / Mortgage loan
3 / Combination of building savings and mortgage

How to choose the appropriate type of financing

money loan

Up to about 200 000.- USD, with a few exceptions, building savings is a unique choice. However, there are significant differences between the five building societies. Therefore, it is advisable to leave the choice of the most suitable savings bank or a combination of several institutions to an experienced financial advisor. In some cases, it is necessary to use a combination of multiple contracts with different savings banks.

From 200 000.- USD up it is possible and sometimes even more appropriate to use a mortgage – especially in the form of a mirror mortgage. However, the actual suitability must be assessed on the basis of a detailed analysis of the client’s situation.

Interest rates

Currently, mortgage interest rates are lower, but building savings loans cannot be forgotten. For some clients, this is the only funding option. This is in case they do not have real estate pledged.

Practice example: Financing the reconstruction
Mr. and Mrs. Okáč decided to renovate their flat worth USD 400,000. Both had building savings for 5 years, each at a different savings bank and did not want to stop the apartment or any other property. The solution in the form of loans from existing savings was a clear choice. On the other hand, their son went out on the reconstruction of the family house with a total cost of 900 000.- USD incomparably better mortgage despite the fact that he and his wife also had building savings, both at the same savings bank for 7 years.

Benefits of meeting a comprehensive loan specialist

Benefits of meeting a comprehensive loan specialist

  • Non-binding and free consultation
  • Find all energy saving options
  • Settle administration in one place
  • Discuss possible combinations you will save on
  • Calculate multiple banking houses for easier orientation without losing your precious time
  • Select the bank that best suits your requirements
  • You do not have to circulate the banks and find out the differences and make a difficult analysis

Official loans and official loans.

Official loans are also given under the terms “official loan” or “loan for civil servants”. A civil servant loan consists of a loan and (capital) life insurance, both financing instruments are inextricably linked. The civil servant loan is primarily an installment loan for private individuals. The special features of a civil servant loan lie in the target group, the loan terms and the repayment process. Civil servants receive the favorable conditions through the lifelong guaranteed income and the high creditworthiness. 

Civil servants in Germany are distinguished by a total of four career groups. These are divided into the simple, the middle, the upper and the higher service. Qualifications and salaries are quite different within these career groups, but all of the above-mentioned professional groups can avail themselves of a civil servant loan. The professional group of civil servants is welcome at credit institutions because their status guarantees a high level of security when it comes to lending. Since the civil servant cannot be terminated for life – with a few exceptions – the risk of inability to work and the associated inability to pay are eliminated. Therefore, most insurers offer civil servants good special conditions. In many cases, the terms are kept much longer than is the case with other comparable loans. A look at our official loan calculator shows that:

Calculate interest on official loans and official loans

Calculate interest on official loans and official loans

A civil servant loan is usually also linked to insurance against disability, because this can also affect an official. Should the borrower then no longer be able to pursue his profession due to illness, the insurance will take over the payment obligations accordingly. This additional protection not only protects the borrower, but also his family or heirs.

A civil servant loan is fundamentally linked to a life insurance policy that is loaned with the loan amount. Over the term, the civil servant, as the borrower, only pays the insurance premium and interest. The excess generated over the term – if there is one – is paid out at the end of the term and then has a correspondingly positive effect on the sum insured. Borrowers also have the option of redeeming their loan earlier through special repayments within the term. The loan itself is not tied to a purpose, rather it is left to the borrower. A civil servant loan is therefore also suitable for rescheduling existing credit obligations!

As a rule, official loans are long-term loans with a term of up to 20 years while at the same time covering the risk of disability and death. The repayment of the loan is suspended on the basis of the life insurance to be taken out, but at the latest after the agreed contract term has expired with the life insurance due. Early repayment of the loan amount, both in one sum and in several installments, is also possible at any time. The term of life insurance always corresponds to the term of the official loan. The (capital) life insurance itself is an insurance policy in the event of death or survival, ie it is either due in the event of the official’s death or upon expiry of the agreed term.

The amount of the life insurance contribution depends on the age of the civil servant and can be combined with accident or occupational disability insurance. The payment of the life insurance sum is made after deducting a predetermined processing fee. Officials can take advantage of the loan either for life or initially only on a trial basis. The lender receives great security in the planning from the lender, because there are only fixed and therefore unchangeable interest rates with this financing variant. The amount of the loan depends on the borrower’s respective net income and is approximately 20 to 24 times the net income.

If, contrary to expectations, the repayment of an official loan fails to materialize, the lender can immediately seize the employee. As a rule, official loans are only rejected if the private credit checker entry is negative. Depending on your wishes, the borrower can take out his official loan with or without premium. Agio is a discount on the loan amount that is used as an advance interest payment. Officials can also take out loans abroad without private credit checker information. Here you should inquire about the corresponding conditions, because these are often worse these days.

The target group for an official loan

The target group for an official loan

In addition to officials for life and officials for life, pensioners, academics as well as workers and civil servants are entitled to an official loan. Some credit institutions also offer the loan to civil servants, but also to people who are employed as civil servants. These include, for example, employees in state-owned companies. The borrowers, for example active civil servants in the sense of constitutional law, must have been appointed to the civil servant relationship for life. The target group must also have a pension entitlement. And: As a rule, the borrowers should not be older than 60 years. This professional group includes, for example, teachers, professional soldiers, police officers and all civil servants in the post, judiciary and administration.

The target group also includes all non-resignable employees in the public service; they should not be older than 70 when the contract is concluded. In addition, an employment period of at least 5 years must exist. Many insurers also offer the civil servant loan to academics. In addition to tax consultants, auditors, lawyers, business economists and architects also belong to this target group. They too must have been in employment for at least 5 years. The respective professional status must always be proven when the application is submitted. So if you have a corresponding professional status, you should take advantage of the advantages of lending.

Since the official loan differs significantly in the processing of other forms of loan, it is also considered a special loan. The approval process is generally completely straightforward – provided that there is neither a garnishment of the salary nor a negative private credit checker information. In all other cases, the status and proof of income for the credit institution is completely sufficient. Overall, the civil servant loan offers extremely favorable conditions, an interest guarantee over the entire term, long and variable terms and extremely flexible loan amounts. Numerous direct banks also have loans for civil servants and academics in the public service on different terms in their program.

Officials with a negative private credit checker entry, on the other hand, have the option of applying for a small supplementary loan as a civil servant loan. This is possible up to an amount of USD 7,500 even without private credit checker information. However, private credit checker-free financing almost always comes from abroad. In addition to Switzerland, providers are also Liechtenstein. The loans are discreetly either postable or transferred directly to the borrower’s checking account. Appropriate sample calculations, loan comparisons and loan applications are also available for this on the Internet.

The application on the Internet

The application on the Internet

Official loans can not only be compared and calculated via internet platforms, they can also be concluded directly here. In many cases, the online offers are significantly cheaper than the offers from your own house or branch bank. As a rule, the online portals are clear and well sorted. At the same time, the portals offer a variety of comparison options as well as helpful test reports to help future customers make their final decision. Interested parties should only make sure that both the selection and evaluation criteria are presented in a comprehensive and varied manner. Important points before graduation are also keywords such as “service quality”, “reliability” and “support”.

The latter is particularly important because “personal” care should be provided throughout the entire term. And the lending institution should also be familiar with possible problems or complaints. In this way, prospective buyers always receive serious offers with appropriate advantageous conditions from independent experts, underpinned by a team of consultants ready for action. Online offers have clear advantages here, since the interest rates – compared to most branch banks – are also significantly cheaper. In addition, most online portals generally work with a large number of partners, which in turn offers interested parties great scope for cheap financing.

How to process payday loan application

If you take another loan, you can apply for it quickly via SMS. With a thirty-day loan for drawing 3 000 crowns 3 720 USD. If you recommend the company to your friends, you can get interesting discounts even with a repeated loan.

Quick loan up to 15 minutes on account


Another non-bank loan that we can really recommend from our own experience is a personal loan. What does this company offer?

As you can see, a personal loan has plenty to offer, both new and existing clients. Regular events and competitions organized by the company are very interesting for frequent clients. Together with the loan, you can often get wellness to stay for two or mobile phones. The APR at this 28-day maturity is around 3,500%, but you can get your first loan for free and loyalty clients can rely on a loyalty program with which they can pay significantly less.

Short-term loan up to 45 thousand

Short-term loan up to 45 thousand

The personal loan works like a classic micro-loan, but you can borrow up to 45,000 for 365 days. In addition, this company also offers a loan of 1,000 crowns, which you can repay either in 7 days or within one month in a single installment, or spread the repayment up to three months. That’s why personal loans among our favorites in a number of payday loans. You do not have to worry that as soon as you receive your payout, you pay most in installments and you can take a new loan straight away. Because of such cases, personal loan offers the possibility to spread the repayment individually based on your needs.

And what does a personal loan offer?

  • APR between 157% and 508%
  • possibility of repayment of up to 12 months, based on the loan amount,
  • micro-loan with installments spread over several months,
  • loan within 15 minutes,
  • you do not need a guarantee or a guarantor,
  • possibility of early repayment.

Unlike previous companies in our ranking, a personal loan does not offer a first free loan, but you can take a significantly higher amount with the option of individual repayment, making it a unique option among micro-loans that you should definitely not overlook when choosing a non-bank loan.

The first free loan for anything

Like a personal loan, a credit loan offers a longer repayment of your loan. In this case, you can take out a loan in the range of one to nineteen thousand crowns with the option to divide the repayment into three months. Because you can only borrow a lower amount here, credit loans currently offering you the opportunity to draw your first free loan, which means you don’t spend a crown on fees and interest. However, this applies only in the case of a one-time maturity of up to 30 days and up to a maximum drawn amount of USD 7,000. 

In addition, a credit loan also offers a very clear application, which you fill in a few minutes. As with most microloans, you don’t have to worry too much about the administration. Just take a picture of your ID and receipt to upload it to the site. Then you just wait for the application to be approved and for your money, which you can use for anything.

Money immediately to your account and first loan for free

Cash loan with the possibility of collecting money, A very popular loan in the Czech Republic, which you certainly know from television commercials. The biggest advantage of personal loans is the first free loan and the possibility of using up to USD 16,000, which is the amount that most micro-loans with lower APR will not offer. In addition, like competitors, it offers almost instant processing of your application and money transfer immediately. 

  • first free loan,
  • maximum 30-day maturity,
  • lower APR even with a repeated loan,
  • possibility to draw up to USD16,000 after the second loan,
  • financial product of the year 2018 in the category of micro-loans,
  • approving loans over the weekend.

The rich offer of short-term loans online is great news for the market


Although the offer of micro-loans has declined sharply last year due to the necessity to hold a license to lend, the choice on the pre-payday loan market is still very rich. Today, however, it is not enough for clients to offer a loan without registers to gather enough people to support the company. Therefore, non-banking companies are competing in offering bonuses and discounts, which is, of course, the best option for clients. Hopefully, this trend will continue, as it will be won by mainly honest clients who use non – bank loans as a solution to unexpected situations.