MarkGH81
2024-09-07 14:59:00
- #1
Hello,
On November 1, 2024, my home loan savings contract with Wüstenrot will be eligible for allocation. The loan repayment / refinancing - payout of the savings amount would take place on December 31, 2024.
My advisor has created the following loan offer:
Bridge loan (5% interest per month!) of the entire savings amount: August 1, 2024 to October 31, 2024 Provision interest would accrue from November 1.
This bridge loan would be repaid upon allocation of the home saver (on November 1) and then only the home loan would be paid off.
My advisor said that the interest for the bridge loan would not matter here, as I would not pay out the bridge loan, but it would only be available and then repaid from the home saver on November 1. No extra costs would arise for me. She always does it this way so that the banks can communicate with each other and everything proceeds on schedule.
Does anyone know this, is this normal? I don’t want to have to pay interest. I also asked the advisor about this and she reassured me and explained everything.
Thank you very much Markus
On November 1, 2024, my home loan savings contract with Wüstenrot will be eligible for allocation. The loan repayment / refinancing - payout of the savings amount would take place on December 31, 2024.
My advisor has created the following loan offer:
Bridge loan (5% interest per month!) of the entire savings amount: August 1, 2024 to October 31, 2024 Provision interest would accrue from November 1.
This bridge loan would be repaid upon allocation of the home saver (on November 1) and then only the home loan would be paid off.
My advisor said that the interest for the bridge loan would not matter here, as I would not pay out the bridge loan, but it would only be available and then repaid from the home saver on November 1. No extra costs would arise for me. She always does it this way so that the banks can communicate with each other and everything proceeds on schedule.
Does anyone know this, is this normal? I don’t want to have to pay interest. I also asked the advisor about this and she reassured me and explained everything.
Thank you very much Markus