gecko2
2014-02-27 19:45:15
- #1
Hello.
In 1998, we bought a house and financed it accordingly.
After about 13 years, we bought another house and completely renovated it except for the roof.
No additional loan was taken out.
Today, the roof needs to be replaced, with costs amounting to around €18,000.
This money is no longer available after we spent around €150,000 of our own funds on the new purchase and the renovation.
After a conversation with our bank, we can get the money, but I am not quite comfortable with the solution and do not want to be taken advantage of.
The whole thing is supposed to be handled through a home savings contract, which would mature in 10 years.
Below are the copies of the bank’s proposal.
Maybe someone can tell me if this is okay or if I better keep my hands off it.
The current loan balance is about €115,000.
Thanks in advance.

In 1998, we bought a house and financed it accordingly.
After about 13 years, we bought another house and completely renovated it except for the roof.
No additional loan was taken out.
Today, the roof needs to be replaced, with costs amounting to around €18,000.
This money is no longer available after we spent around €150,000 of our own funds on the new purchase and the renovation.
After a conversation with our bank, we can get the money, but I am not quite comfortable with the solution and do not want to be taken advantage of.
The whole thing is supposed to be handled through a home savings contract, which would mature in 10 years.
Below are the copies of the bank’s proposal.
Maybe someone can tell me if this is okay or if I better keep my hands off it.
The current loan balance is about €115,000.
Thanks in advance.