Audacious Sparda Bank Baden Württemberg

Hello, in February we applied for a loan through Dr. Klein at Sparda BW. They took 4 months!! and we were only now able to sign, although all documents were complete and there were no questions. If the interest rates had not exploded like this, we would have long gone elsewhere. But we now have a loan at 1.4% for 20 years and that is the main thing. However, Sparda has kept February as the start of our interest-free provision period. This means that due to the bank’s fault, we effectively only have 8 months left. They say this is usual and that, according to their own statement, they cannot change this without adjusting the conditions. Is something like this legal? Ultimately, this will cost us money because we can no longer make it by February. The draws are also processed via copied invoices and filled-out slips by mail like 20 years ago. So far I definitely cannot recommend this bank, but absolutely Dr. Klein. Our advisor fights like a berserker for us.

Annoying... would accept it, better 1.4% for 20 years than a new calculation with no idea 3.0%

It's normal. When applying, the bank also secures the conditions for refinancing only for the specified period. So just enjoy the low interest rate.

I would say it depends on the contract terms. If the application is stipulated in the contract or in the [AGBs] as the decisive starting point of the interest-free provision period, you cannot do anything about it. However, if the actual signing of the loan agreement is decisive, the bank must grant you the contractually agreed twelve months on that day. Since we do not have your contract documents, we can only assess the situation inadequately.

I would say it depends on the contract terms. If the application or in the GTCs the application is the decisive start of the interest-free provision period, you can't do anything about it. However, if the actual signing of the loan agreement should be decisive, the bank must grant you the contractually agreed twelve months on that day. Since we do not have your contract documents, we can only inadequately assess the matter.

Well, I just applied through Dr. Klein. I only received the actual contract documents from Sparda now with the approval. The date was then entered there. Nowhere at Dr. Klein was it stated what is decisive, only that we have 12 months. Curiously, the start of repayment and disbursement time were correspondingly extended by Sparda in the contract.

Be glad that you were still allowed to keep the conditions. I would have declined the loan and rather lent the money elsewhere (where are we now, 4% for 20 years?).