In addition to their handicap, severely disabled people face other difficulties, because the apartments in which they live are often not built to meet the needs of the severely disabled. If the apartment or house is the property of the severely disabled, appropriate conversion measures can be carried out.
However, such conversion measures are quite expensive and not everyone has put as much money aside and a loan for the severely disabled must be applied for.
In some states, the construction measures related to severe disabilities are funded by the state through a loan for the severely disabled. Such a building loan can also be approved if an existing living space is to be converted for the disabled.
However, the approval of the loan also depends on the financial situation of the borrower. The respective municipalities provide precise information. Interest-free loans from the state are also possible under certain conditions.
If government funding is not an option, a loan for severely disabled people can also be applied for from any bank. Banks must not differentiate whether people have disabilities or not. Ultimately, the permit depends on the income of the severely disabled and their creditworthiness. Refusing a loan just because of their disability is not legal and is not practiced.
Long-term loans – what should you watch out for?
With long-term loans, special attention should be paid to interest rates. The loan terms for a home loan are longer than for a normal installment loan. It is important to take advantage of the current interest rate trend. In times of low interest rates, a longer term should therefore be chosen, because the interest rates are fixed during this time and cannot rise or fall.
The remaining conditions also play a role in the decision. If the bank offers special repayments free of charge, this has advantages for the borrower, because the banks usually charge money because they have an interest loss through special repayments that they compensate for. If they do not do this, it is only positive for the customers.