What is a personal credit and what is it for me?

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Have you read about the personal credit and do you wish to make use of it, or would you like to check whether that might be a suitable solution for you? Many people have to deal with surplus value within their home, surplus value that they cannot just spend. For example, do you only have a small mortgage of $ 50,000, while the home has a value of around $ 300,000? Then there is a surplus value of $ 250,000. You can make that money available by selling the property, but then you can no longer live there. You can use a personal credit instead.

personal value of the home

WOZ value of the home

The personal credit is based on the personal value of the home, in relation to the mortgage debt that is (possibly) still remaining. This means that you do not have to submit a high income to be eligible for the credit, instead you can use the surplus value of your home. Every year you will receive a personal assessment from the municipality, which shows the personal value that you can state when you want to apply for a personal credit.

Borrow money for periodic payment

Borrow money for periodic payment

With a personal credit you have the option of, for example, providing a periodic payment. Do you want to go on holiday now and then, or have you bought a nice big car and do you have to incur considerable monthly costs? A personal credit can help you to generate more income each month by using the surplus value within your home that you have built up. Obviously, a personal loan is also excellent for the elderly, when you want to use the surplus value to pay for the care.

Use your own surplus value

Use your own surplus value

You have built up surplus value within the home yourself, for example by making repayments, or simply by living there. When the value rises in relation to the mortgage, surplus value arises. Especially with mortgages that have been running for several decades, there is actually always surplus value, which means that a large number of people can use a personal credit. If you want to live in the house for the rest of your life, there is no method to make this money available. In that respect, it is interesting to use the personal credit to still gain access to it.

personal credit for the elderly

WOZ credit for the elderly

The personal credit is, among other things, well suited for the elderly, who can ensure that they can pay for their care. They can only use the surplus value from their home by relocating, something they are generally not waiting for. The personal credit is then an interesting alternative to prevent the money from simply going up to the legacy. In that respect, the personal credit offers various options, making it worthwhile to request this or at least to obtain more information about it.