Låne Til Depositum: Can You Get It, Should You & How to?


Whether you have just now moved to Norway, or you are starting a new life in a different area, either because you’re starting your own family, or because you want to move away from your parents’ home, one thing is for sure. You will need to carefully go into the renting process. And, you will need to have some funds to pay in advance in order to secure your rental property and in order to even get the opportunity to live in it. In other words, you’ll need to pay a deposit, as most landlords will expect you to.

And, how much will you have to pay? Well, that depends on several things. For starters, the amount of rent will have a direct influence on the amount of the deposit you will have to pay. But then, there is also the fact that different landlords require different things.

Most usually, people are required to pay a deposit equivalent to three months’ rent. Sometimes, though, the landlord can require it to be equivalent to six months’ rent, but it should never be more than that. So, as you can conclude for yourself, this can turn out to be a big amount, and it may also be an amount that you don’t have ready at hand, which is why you may start thinking about finding some alternative ways to come up with the money and pay the deposit.

To cut to the chase, the alternative way you’ll start thinking about is the option of getting a loan to cover these expenses. If you go here, you will get a better idea about personal loans in general and about the process of getting those, but chances are that you are wondering something else entirely. In short, you are wondering whether getting a personal loan to pay your rental deposit is a realistic possibility that you should look forward to. Because, you may have heard of people borrowing money for other things, but not for this specific purpose, and you are now not sure if that was because they didn’t need to, or because it wasn’t possible.

Then, even if it winds up being possible, chances are you’re not sure if this is something you should actually do or not. After all, personal loans come with interest, and you don’t want to jump towards getting them if it is not for a good purpose. So, this is another question that we will cover today, right before covering the question of how you can get the right solution for yourself, should it wind up being possible and should you decide to do so. Let us, thus, cover one thing at a time and get all your facts straight here.

Can You Get a Loan to Pay Your Rental Deposit?

The first thing you’re wondering is whether you can get a loan to pay your rental deposit. And the answer is… Why not? Personal loans come with no restrictions regarding what you can use the money for, which basically means that you can use it anyway you want. You can buy something, you can go on a vacation, you can do some home renovations, or you can, well, pay a deposit for the property you are looking to rent. And, those are just a few examples, while the truth is that you can borrow money for pretty much anything you want.

Should You Do That?

So, the answer to the above question is clear. Yes, you can get a personal loan to pay your rental deposit if you decide to do that. But, you are probably a bit more concerned about this second question. The question of whether this is something you should actually do. Let us explain these loans in a bit more details and address your concerns in the process, aiming at helping you answer this question for yourself, because you are ultimately the only one who can decide if this is something you want to do or not.

The loans we are talking about here are unsecured ones. In case you didn’t know, that means that they don’t require you to provide some of your assets as collateral to the lender, guaranteeing that you will repay the amount you will borrow. Thus, it is a safer option for the borrowers, because they don’t risk any of their assets in the process. And, as you can see at forbrukslån.no/lån-til-depositum/, it is precisely these unsecured loans that people go for when looking to borrow money to pay their rental deposits.

Before you decide if you want to do this, there is another thing you should know. Given that this option doesn’t require security, making it safer for the borrowers, it is automatically a bit riskier for the lenders. After all, they don’t have anything to fall back on if you default on the loan. Therefore, they have had to find a way to protect themselves a bit better during the process of lending the money.

And, apart from performing credit checks, as all lenders do for all types of loans, they have also decided to protect themselves by offering slightly higher interest rates compared to those they offer on secured loans. This means that the loan you will get this way will be slightly more expensive, given that the interest rates will be higher.

So, this begs the question. Is it worth it? Well, if you think about it carefully, you will realize that it actually is worth it, even if the interest rates are higher. After all, if you are looking to rent a place, for any reason whatsoever, doing so will be impossible without paying the deposit, and you shouldn’t postpone the decision because you don’t have enough cash lying around to cover the deposit right away. Plus, even though the interest rates do tend to be a bit higher, the truth is that you will be able to find reasonable deals – that is, loans that won’t be too expensive, which just further confirms the fact that doing this is worth it when you’re looking to rent an apartment.

How to Get the Right Solution?

The above should have made it clear that getting a personal loan to pay that deposit is a realistic possibility that you can use in order to get the money you need. Furthermore, you also should have understood by now that we are talking of unsecured loans in this case – those that don’t require collateral. And, although it is clear that the unsecured ones are slightly more expensive, due to the higher interest rates, the truth is that you will absolutely be able to find a good deal if you just play your cards right and take things slowly. So, let us now talk a bit more about how to get the right solution for yourself.

When looking for the right solution, it means that you are looking for a low rate lån, and in order to secure that low rate, you’ll need to take a few right steps. For starters, you will have to improve your credit score as much as possible, because a better score means not only higher chances of getting approved for the loan, but also better interest rates. So, take your time to boost your credit score first, cancelling subscriptions you don’t need, paying outstanding debts, and taking pretty much any other steps that could serve this purpose.

Once you have done that, you will be ready to proceed towards the next stage of the process. The stage of finding the right lenders to work with, because the quality of your låne til depositum will absolutely depend on the lender you will choose. So, you absolutely have to be careful in this process, aiming at choosing those lenders that are reliable, trustworthy and reputable, and that will, therefore, offer you a good borrowing deal.

You can start by finding those various lenders online, or perhaps by talking to some of the people you know and getting their suggestions, in case they have recently taken out personal loans. Additionally, you should find relevant websites that have been created with the purpose of making the search for lenders much easier. I am referring to those websites that will list the various lenders all in one place and that will do much more, providing you with the necessary information regarding the loan deals offered by those lenders, and thus allowing you to easily compare those various solutions, aiming at choosing the best one.

In addition to choosing the lender, and you’ll be able to do that easily by comparing the info through the above mentioned websites, you will have to make a few more important choices so as to get the best deal. First off, calculate the exact amount you need, so that you can get enough money, while also not getting too much and then paying more interest than necessary. Then, take time to assess your financial situation, so that you can decide on the right repayment schedule and on a monthly installment that you’ll easily be able to pay. Once you’ve made all of those choices, proceed to applying and getting the money to pay the deposit and move into your new apartment.



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