Lisäluotto

Lisäluotto is a Finnish term that translates to "additional credit" or "supplementary loan." It generally refers to a credit line or loan that is added to an existing loan agreement or a separate, smaller loan taken out in addition to a primary loan.

The purpose of lisäluotto can vary. It might be used to cover unexpected expenses that exceed the original loan amount, to finance a renovation or upgrade, or simply to provide additional funds for a specific purpose. The terms and conditions of a lisäluotto, including interest rates, repayment periods, and any associated fees, are determined by the lender and are typically outlined in a separate agreement or an amendment to the original loan contract.

In some contexts, lisäluotto can be associated with mortgages, where homeowners might take out an additional loan secured by their property to fund further investments or consolidate debts. It can also apply to consumer credit, where a borrower might receive an increased credit limit on a credit card or a separate, smaller personal loan. The availability and terms of lisäluotto are subject to the borrower's creditworthiness and the lender's policies. It is important for borrowers to carefully review all terms and conditions before accepting any form of lisäluotto to understand their repayment obligations.