Their wish
carrying out maintencance work

Gerald and Erna’s house was in great condition however it could do with some maintenance work. The windows and window frames were over 25 years old, the paint work needed more than a touch up and they wanted to look into installing solar panels as for Erna, sustainability is very important.

The challenge
spending as little of their own money as possible

Solar panels, paintwork, new windows and window frames: the total amount could add up to tens of thousands of euros. You could finance this using your own money, but is this the most sensible solution? It is obviously important when all this is taking care of, but let’s be honest: there are nicer ways to spend your money. Gerald and Erna are planning on booking an exotic holiday with the family and buying a new car is also on their wish list. They want to carry out some maintenance work on their house and improving its sustainability, but they also want to keep enough money to spend on things they enjoy.

Vixx’ advice
use the favourable market to your advantage

Gerald and Erna came to see Vixx to help them deal with the challenge they were facing. We made a so-called ‘financial picture’ to gain insight into their financial situation, which helps making the right decisions. The financial picture showed there was enough money in their savings account to carry out all the maintenance work required, and that there was also a large amount of capital gain on their property.

Together with their Vixxer, Gerald and Erna decided to increase their mortgage and switch to another mortgage provider to benefit from lower interest rates. As a result, a higher amount of money became available to cover the maintenance work. Another advantage of the lower interest rate is that you could end up paying less on a monthly basis. In Gerald and Erna’s case, their monthly charges increased less than expected, even though they took out the capital gain on their property.

Current situation
enjoying the things that really matter

A couple of months later, Gerald and Erna’s property is up to date again. The paintwork has been carried out and they installed new window frames and solar panels! They are ready for the years to come. They also booked a beautiful family holiday to Bali, using the savings which they did not have to spend on maintenance work!