Basic / Home Financing Split?

Ok, the topic has become more complicated now. We were told that Bank 1 actually only offers a 10-year fixed interest period on loans. We could extend it to 15 years if we take out a building savings contract with a partner (I think it was Schwäbisch Hall). I think that's nonsense since building savings contracts usually only have a positive effect for the banks (commissions, etc.) or am I misinformed? I am now trying again with a conversation to somehow get a 20-year fixed interest period at about 1.3-1.4% per year. Alternatively, I can try to finance only the land through the bank, although I have heard that it is desired for the land and house financing to be done through Bank 1 and not only the land alone. However, I also want interest rate security for 20 years. As a third suggestion, I could ask how a loan with variable interest rates looks. Is there anything to consider before I suggest that? Any pitfalls? Many thanks to everyone.

Ok the topic has become more complicated after all. We were told that Bank 1 actually only offers a 10-year fixed interest rate on loans. We could extend it to 15 years if we take out a home savings contract with a partner (I think it was Schwäbisch Hall). I think that's rubbish because home savings contracts only really have a positive effect for the banks (commissions, etc.), or am I misinformed. I’m now trying again with a conversation to somehow get a 20-year fixed interest rate at about 1.3-1.4% per year. Alternatively, I can try to finance only the land through the bank, although I have heard that it is desired for the land and house financing to be done through Bank 1 and not just the land alone. However, I also want an interest rate security of 20 years. As a third suggestion, I could ask what a loan with variable interest rates would look like. Is there anything to consider before I suggest that? Any pitfalls? Thanks to all

I’m just reminiscing. We had pretty much the same conversations. Volksbank and Kreissparkasse have a maximum fixed interest rate of 10 years, even in connection with the home savings contract; you were probably dealing with these banks. However, I have to say that only these two banks offered us a variable loan. I would definitely try to get a variable loan from some bank, that is the best solution in your case as well. Then you can freely decide which bank you go to afterwards and you’re not tied down. You don’t really need to consider anything special. It’s a relatively “simple” contract. As I said, we got an interest rate of 0.98%, which is very, very good. I think that anything variable up to 1.3-1.4% is okay. Keep in mind: If you lock in your interest rate and finance with two different banks, the first bank has you tied down with the priority entry in the land register... Your terms will definitely be worse for the second contract.

Hehe yes. Somehow it’s really funny. Just got a call. Now it apparently goes via [Schwäbisch Hall] without [Bausparvertrag] for 20 years. Currently, we would be at about 1.3% to 1.4% fixed for 20 years. I’m now getting another contact person for the detailed conditions. Do you think 1.3-1.4 for 20 years would be good? Or what percentage are you/you all planning for if it goes towards a long fixed interest rate?

Hehe yes. Somehow it’s really funny. Just got a call. Now it apparently goes through Schwäbisch Hall without a building savings contract for 20 years. Currently, we would be fixed at about 1.3% to 1.4% for 20 years. I’m now getting another contact person for the detailed conditions. Do you think the 1.3-1.4 for 20 years would be good? Or what percentage do you/you plan on when it comes to a long fixed interest rate?

Do you have a precise idea of when exactly you want to roughly finalize your second financing (house)? I might then have a good contact point or a good offer for you.

At our district savings bank, the maximum is 15 years, the rest with a building savings contract.
At our Volksbank, the maximum is 10 years, but the rest with another credit company partner, even up to 30 years, all of which you arrange through the Volksbank.
1.3-1.4% for 20 years is decent and fine.. there’s nothing to complain about.

So, off the top of my head, I would say after 5 years, but in this case I am quite conservative and would prefer a 20-year term (planning security, etc.). Also, I don’t know yet if the bank would agree to that. I also think that we could do well with that and that without a [Bausparvertrag].

So, off the cuff, I would say after 5 years, but in this case I am quite conservative and would prefer a 20-year term (planning security, etc.). Also, I don’t yet know if the bank would agree to that. I also think that we could do well with that and without a building savings contract.

What do you mean after 5 years? I don’t quite understand that right now. When do you want to start building? In 5 years or how? We probably talked past each other.

What I wanted to get at: Google "Münchener Hypothekenbank Aktion 30 Jahre Zins für 15 Jahre". We’re waiting for that, so our financing will only start in spring 2021. This promotion has happened every year so far and will most likely happen again next year. Münchener Hypothekenbank is a Volksbank partner, so you can also go to a Volksbank and get information about it there.

Current builders received conditions of 1.0% this spring for 30 years fixed interest rate in part.