B arclays has been accused of putting its mortgage customers through a "nightmare" by mistakenly recording defaults in their credit files, meaning they are trapped in expensive deals for home loans and other credit.

In the context of financing, a list for modernization costs is needed as an overview of the possible costs for orientation purposes. This makes it possible to calculate the financing for modernization. Such a list of modernization costs is not only the basis for the financing discussion at the bank, but also gives the homeowner a clear assessment.

Plan the financing with the statement of the modernization costs

Whether you want to modernize a house you have lived in for a long time, a condominium or plan to buy an older house and then modernize it, it is essential to have a breakdown of modernization costs. If the energy efficiency of the house should be improved and a promotion with favorable KfW credits is planned, such a statement about modernization costs is even part of the application.

In most cases, the so-called house heir feels the inheritance of a property as a blessing, after all, this is a permanent asset. Whether as an owner-occupied home or capital investment, an inherited house proves to be extremely advantageous, so that for most house heirs the question of whether to reject the inheritance does not arise at all.

While most people save for a lifetime for their own four walls and thus work towards a home of their own, a home inheritance falls into their hands without any action on their part. Due to the inheritance, they come into the possession of a property and may be happy about at least a small fortune.

Schulz crosses the street to the streetcar stop. His second shift doesn’t start until 3 p.m., and then he has to spend seven hours cleaning glass windows and floors. For the time in between he goes home.

Whereby that with the home is such a thing. Schulz has been homeless since September 2019. Temporarily he lives in a one-room apartment of Caritas. He works full time as a glass and building cleaner, he does not earn badly. But he can’t find his own place to stay.

Children put a cost burden on the household budget, but child support and other wage replacement benefits, such as parental allowance, are not part of garnishable income. When it comes to a loan for young families, it is not generally easier, because children living in the household tend to negatively affect the credit rating.

Credit for families with children

To get a loan with children, you must be able to prove a correspondingly high income.

China's financial markets are attracting more and more foreign investors. (Image: Shutterstock.com/hellorf zcool)

Unlike in other parts of the world, China's economy is recovering very quickly, driven by strong domestic consumption. That, according to Kai-Kong Chay and Paula Chan of Manulife Investment Management, is leading to interesting investment opportunities in Chinese stocks and bonds, particularly in the ESG space.

Are you planning to sell your house? Then all sorts of questions come around the corner. What will be the asking price? Is the house actually ready for a viewing yet? If you have taken out a mortgage for the current home, you should also decide what to do with it. There are several possibilities. Which ones they are, lays Erik Slijkoord, mortgage advisor at eyeOpen.nl, please explain.

Mortgage repayment

When you sell a home, you should immediately pay off your mortgage in full. Generally, most mortgage lenders impose a penalty for additional repayments mid-term. When you sell a house, there is often no question of this and with most parties you pay no penalty. Still, there are some parties that do charge penalty interest. Always ask your lender about this. Whether the sale raises enough money to pay off the mortgage debt in full depends on the sale price of the home.

The main benefit of compound interest for savers is the promise of exponential growth of their money. Once interest is added to an account, it begins to earn interest itself, increasing the rate at which the account can grow. This applies to all types of savings instruments, including savings accounts, money market funds, and certificates of deposit (CDs). Lenders also benefit from compound interest, as unpaid interest added to the loan balance also earns additional interest, which increases the balance due.

If a savings deposit remains untouched except for the addition of interest, each of these deposits will be higher than the previous one and will eventually exceed the amount of the original deposit. Combined with a modest regular savings program, such an account can grow very quickly. This is what is meant when people talk about the "miracle of compound interest".

Follow-up financing is an important issue for people who own a house or apartment and have taken out a mortgage. Follow-up financing occurs when the term of the original mortgage ends and the borrower must repay the balance or take out a new mortgage to finance the remaining debt.

Gathering information is important

At first glance, follow-up financing seems to be an easy way to continue an existing mortgage. But the reality is often different, because many borrowers are not well informed or do not understand the risks associated with follow-up financing.