Top-up your loan with LEND
You would like to top-up your loan? you need a bridge loan? Did you know that you can save money doing this? More often than not you can benefit from refinancing your loan at better terms while topping it up at the same time.
Good to know, because the only constant in life is change...
You moved to your own home but finances ran short for your dream kitchen. Or you just paid your tax bill and there it is, that painful root canal. Life is full of surprises and sometimes we all need additional financial resources at very short notice - even if you have a running loan already. This could actually be an opportunity.
Save money by refinancing your loan
And with the lower interest rates you can finance the top-up. How does that work?
- With a running loan you have a credit history that confirms your creditworthiness. This allows you to receive a higher loan with longer terms and lower interest rates.
- While investors should diversify their risk and invest in several loans, borrowers should consolidate multiple loans with one provider. By consolidating your loans you can negotiate better terms. Also, higher loan amount help you qualify for lower interest rates. So if you are looking to increase your credit line, the timing is right. And as a positive side effect you will have one provider only that supports you with all your financing needs. This saves you money, but time and energy too.
- Refinancing your loan is free of charge. This is what the law says in Switzerland. Your bank can not charge you interest for the unused portion of the loan.
- Refinancing your loan is always an opportunity to negotiate a shorter loan term. This means you will be debt free earlier and at the same time save costs.
"Banks charge 12% interest on credit card debt while loans at LEND start at 4.5%. The math is rather easy."
Low rates from 4.5%
When you are refinancing your loan you should plan ahead: Did you include and factor in all future needs and ideas? Is your loan calculated to the penny or are you leaving a financial cushion to cover unexpected events?