Restart loan

Restart loan

– refinance payment notices with collateral in housing

  • Loans up to 85% of the property’s value
  • Combine many loans into one loan
  • One bill to deal with
  • Reduced interest expenses
  • Avoid forced sale

Restart loans can be suitable for those with payment reminders and debt collection. This can be a solution if you’ve been turned down by traditional banks. The loan is used to pay off loans with payment remarks, debt collection and other debts. It can therefore be considered a type of refinancing . A restart loan allows you to restart your finances with a good chance of being able to repay the loan.

  • You can get debt refinanced up to NOK 10 million
  • You may have payment notices, debt collection or other types of debt
  • You can consolidate and settle the same debt up to 85% of the home’s value (in central areas)
  • You get many small loans combined into one loan

The bank takes a mortgage on your home and gives you a new loan. Even if you’re struggling financially, you can start afresh and get a fresh start with a restart loan.
You must be able to offer security for the loan in a home.
It does not have to be a property you own.

Eiendomsfinans has worked with restart loans for many years.
We work with all the leading banks on this type of loan.
Feel free to contact us for more information and offers.

open laptop with the logo of eiendomsfinans and a coffee mug

Advantages of restart loans

In some cases, you have received payment remarks or debt collection on loans or bills. This can be everything from consumer loans to VAT bills, electricity and telephony. If you have a mortgage without remarks, this loan can be left as it is in the current bank. We can then help you collect other expensive debts with payment remarks. This debt and these bills are replaced with one single restart loan. This loan is used to pay off the debt and will then be secured in your home after the mortgage. It is called a 2nd priority mortgage. The bank that holds the mortgage will be able to continue to have a first mortgage on the property. You therefore do not need to submit your mortgage if it has no objections. In this case, you keep the low mortgage rate on your current loan, but consolidate all your other debts into one loan without remarks.

Payment remarks can be a disadvantage when borrowing money. This means that you must provide some form of security in order to be granted the loan, a mortgage. A payment remark indicates that you have had problems paying bills or loans in the past. This increases the risk for the lender. Therefore, they will often charge a higher interest rate on a restart loan.

Norwegian households have seen an increase in debt in recent years, and debt collection has become more common. That’s why there are banks that specialize in offering restart loans to customers with payment remarks or debt collection. These banks can offer alternative solutions for you, but it is wise to compare offers from different banks to find the best start-up loan for you. We can help you with this as we work with all the banks in Norway that offer restart loans.

FAQ – What is a restart loan?

What is a restart loan?

Restart loans are a type of loan that can help you get back on your feet after a financial crisis. It’s a loan to cover your financial needs, for example to pay bills or accumulate expensive debt. Restart loans are often intended as a temporary solution to help you get ahead. So that you can rebuild your finances over time and have payment reminders deleted.

Who can apply for a restart loan?

In most cases, anyone who needs financial help can apply for a restart loan. These can be people who have gone through a divorce, a bankruptcy or another form of financial crisis. It can also be people who have gone through a transition. You are required to have security for the loan, such as a property that you or your guarantors own.

How do you apply for a restart loan?

Use the form at the top of the page and select “restart loan”. We then find a lender who offers this product. There are several banks and financial institutions that offer this. Together we fill in an application that contains information about your financial situation, your income and your expenses. You must also be able to show documentation of your financial situation, such as payslips or bills. Once the application has been submitted, the lender will assess your application and decide whether you can get a restart loan.

What does a restart loan cost?

The price of a restart loan will vary depending on the lender and your financial situation. It is therefore important that we help you compare offers from different lenders and assess what suits you best. You should also be aware of any additional costs, such as establishment fees or term fees, which may be incurred when taking out a loan. There is a higher interest rate and establishment fee on a restart loan because the bank’s risk of loss is higher than with a normal mortgage.

What should you consider before applying for a start-up loan?

It is important to consider a number of things before taking out a restart loan. Firstly, you should consider whether you can afford to repay the loan according to the agreed repayment period. You should also consider whether you can afford to pay the interest and any fees that come with the loan. We help you compare offers from different lenders to find the best offer for you. It may also be a good idea to consider alternative solutions, such as saving money or applying for another loan with a lower interest rate.

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