Assessment of financing offer - Which repayment

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Google is your friend. ;-)

It somehow all reminds me of "Hans-Martin". ;)

You either didn't watch the show or didn't understand it :rolleyes:

Google is your friend. ;-)

I found it. Raab :confused:

I don't watch such "trash". :p

Since security and flexibility were important to us, it was suggested to work with an initial repayment of 1% and to use the special repayment rights. We are aware that with this model we have to make special repayments or increase the repayment later if we don't want to be left with a huge balance after 20 or 25 years.

I am now interested in how you assess the offer? Is it a good (cheap) offer or should we look elsewhere again because the conditions are bad? Has anyone perhaps done something like this before?

The loan from Allianz seems to be the one tailored to young families? We recently took out one like that. Also for around ~300,000 EUR. With slightly better interest rates over 20 years but also with more equity. Your interest rate therefore seems roughly okay to me. However, we start with 2.5% repayment with even a slightly lower monthly net income. With that—without special repayments—we still have about ~125,000 EUR to pay off at the end of the fixed interest period. 1% repayment would really be very little for me.

Moreover, if necessary, we can reduce the repayment to 1% with this family loan (2 times switching between 1 and 4% possible). In case we go below the initial annuity, the nominal interest rate only increases by 0.02%. For the utmost emergency, we can have made special repayments paid back to us, and after the birth of a child, we can suspend repayments for up to 24 months. We are also rather risk-averse, but that is enough security for the difficult time that hopefully will not occur.

Long story short: up with the repayment:D

Regards.

A loan with 2.34% interest and 1% repayment has a calculated term of 619 months, or just over 51.5 years. Assuming a retirement start at age 67 (sic!), the suitable borrower at the time of contract signing should not yet have reached their 16th birthday. This is probably more for very young families.

At 2.56%, it looks a bit better with 59.5 years. The borrower is at least 18 years old at the time of signing.

I have still not claimed that the 1% recommendation was about you. But if a thread starter presents such an offer here, then there must have been someone on the other side (bank, insurance, broker, whoever) who made the offer. And I find that negligent and unprofessional. Offers usually don’t just grow on trees. And yes, you apparently fall completely outside the norm. Probably not even 0.3%, but more like 0.03% of the population are like you.

Specifically, I work for a bank and deal daily with banking risks, including credit default risks, interest rate risks, market price risks, optional risks, operational risks etc... You will also be familiar with the latter risks from your daily routine. And even if you don’t have a risk controller, someone in the company will be dealing with this consciously or unconsciously, regardless of your industry and the size of your company.