With the hot buyer's market, the housing decoration loan market is also boiling, and major banks are also aiming at opportunities to open related businesses. So what problems should we pay attention to when dealing with house decoration?

Real estate needs to be your own.

Personal housing renovation loan is a loan issued by the bank to the borrower to decorate his own house, which means that the real estate needs to be his own.

Renovation contract and related information.

Housing decoration loans should include renovation contract, decoration budget and related materials signed with decoration enterprises recognized by relevant departments. Some banks also require owners to have a lot of self-raised funds of 30% of the total decoration budget, and then use loans after investing in project construction.

Cannot withdraw cash.

According to the regulations of the bank, personal consumption loans are generally not allowed to be withdrawn, and the bank will transfer the money to the account of the decoration company.

The loan period shall not exceed 5 years.

Generally, the loan term cannot exceed 5 years.

Reasonable arrangement of repayment plan

According to the loan term of the decoration loan, the borrower should not only arrange the repayment plan reasonably, but also pay attention to the overdue phenomenon.