1. Make a budget
To see if you can repay the loan and the interest, it is best to first calculate how much you have to spend per month. Make an overview with your monthly income and expenses. This gives you insight into how much money you still have to spend per month and whether you can pay the interest and repayment. If you have too little left, then you know that you better not take out a loan.
2. Personal advice
Let yourself be personally advised on a loan, a professional knows where the hooks and eyes are.
3. Take the time
Do not decide in a day, but sleep over it for a night so that you can make an informed decision. After all, you are committed to such a loan for a longer period. If you have already taken out the loan and still regret it, you can always have the contract terminated within fourteen days.
If you want to take out a loan, first check whether the provider has a license with the Netherlands Authority for the Financial Markets (AFM) or with De Nederlandsche Bank (DNB). Without this license it is illegal to provide a loan.
5. Prohibition of mediation costs
The costs for the advisor, the so-called advisory costs, may never be charged to you. The adviser is already paid for the mediation by the bank. Advice costs for insurance may be charged. Ask in advance for the costs and indicate whether or not you want advice on insurance. This prevents you from receiving insurance advice while you may not want this.
NOTE: Advice for loans does not have to be at your home
At your request, an adviser can visit your home for advice. The consultant can calculate costs for this. However, you can also receive the advice by telephone, post or at the consultant’s office. A consultant may only come to your home if you have asked for it yourself.
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