Avoid commitment interest - 100% loan payout

  • Erstellt am 2019-09-03 13:13:53

Markuss85

2019-09-03 22:02:24
  • #1
Wow, great – thank you very much for the many helpful answers in such a short time. It reassures us that it is apparently done that way sometimes, even if it is not the rule. At least we had not heard before that this is even possible.

Normally, you always read about using up equity first, loan payment only after invoice and verification, relatively "pedantic" conditions, etc. With this bank (large, reputable, nationwide bank in Germany), it was the first time that the disbursement was seen as relatively "relaxed." On the contrary, we were even advised not to draw a few thousand euros of the loan so that the repayment does not start yet and only 3% interest is due on that.

Of course, we will have everything in writing beforehand. Thanks for the tip. Hoping the advisor is still that "relaxed" then.




Yes, exactly that is the point. Of course, the conditions are quite good, we also held several talks, obtained offers and were received with open arms everywhere. But the next best offer was at 0.79% (with then 12 months free of provision fees, which would naturally be much preferable). But that amounts to about €4,000 more in interest overall. Hence the temptation with the 0.55%/3 months free, provided that the full disbursement after 3 months can be arranged smoothly.
 

Zaba12

2019-09-04 06:17:56
  • #2

We have now paid almost €1,800 commitment fees with a commitment-free period of 12 months. The construction period was short, but the hassle before that was the time eater (development, land registry entry, neighbor’s scaffolding, etc.). An extension from 12 to 24 months would have cost us 0.2%.

Was the full disbursement after 3 months offered to you without conditions or is it just your wish? A house bank certainly does that under optimal conditions. Direct banks do not. With all others, I can hardly imagine that this would be done when the shell is not even half built. When the house is standing and, for example, €40k are still left, then rather.
 

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