Bank loan

Hello everyone

We urgently need your advice!
We want to cancel a bank loan. Can we still cancel after 14 days? We have not received any money yet. No mortgage entry or anything like that has been made either!

Do we have to expect any costs?

Thanks for your help!!

Hello fak79,

since you yourself have already mentioned the 14-day period, I assume that you do not want to terminate a loan, but rather revoke it?!

A revocation within the 14-day revocation period would be possible without any problems; a termination depends on the goodwill and approval of the bank. If applicable, you may have to pay a non-acceptance fee to the bank.

You should contact your bank directly. Because the reason for your termination certainly plays a decisive role.

If you have simply found a cheaper bank, it will probably be very difficult to convince your bank of your request. However, if there are serious problems, such as a death in the family or loss of employment, the bank will surely be more willing to negotiate.

Good luck and best regards

M. Thiemann