Bank expects a 7% mortgage interest rate

We had to take our modernization loan currently at 5%. Since we are already customers at the bank (elsewhere it wasn’t cheaper either), a few recent income statements as well as a copy of the land register entry were sufficient. The interest rates are really quite high again.

Yes, I was aware that our bank is expensive, but that was a slap in the face for me. Our idea now is to do the necessary things and that’s it.

Wow, 5%. Haven't we always discussed over 4% here? But then 7% is of course the normal safety margin

At Dr. Klein, the interest rate newsletter says 3.89 % today, after it was consistently 3.96 % all last week.

At Dr. Klein, the interest newsletter says 3.89% today, after it was consistently at 3.96% last week.

Yes, it’s no use to you if you are already with a bank for the main financing. Then you have no options to borrow money elsewhere for renovation/modernization, as they would only be serviced subordinately in case of emergency.