The interim loan only solves the following issue:
- Contract structure with interim loan and repayment of the interim loan upon allocation (November 1)
- Interim loan has an interest lock period until November 1 and would not be drawn until November 1
- Interim loan would be fully repaid on November 1 upon allocation of the building savings contract
- Since the money is only available for 3 months, no commitment interest would be charged
- Nothing is paid with the interim loan; it remains unused at the bank
- It only serves to handle everything in a timely and deadline-compliant manner
- I asked the advisor why all this, she always does it this way to have everything finalized asap. With the large number of clients, there is enough time if something goes wrong
- I also asked why a loan is provided if I do not use it at all and repay it immediately upon allocation? The advisor said Wüstenrot wouldn’t know that, it could be that they might need the money earlier.
It is not about the meaningfulness of the whole thing, but whether such a thing exists contractually and that no additional costs would arise for me.
End of interest fixed period of current mortgage: December 31, 2024
Repayment of the outstanding debt through a building savings contract on December 31, 2024
1. Old loan expires December 31, 2024
2. Building savings contract becomes ready for allocation beforehand and can repay the old loan on December 31, 2024
Interim loan is applied for = possibly costs due to mortgage lien, discount as processing fee, possible non-utilization compensation, impact on credit score, administrative effort including annoyed bank, possibly brokerage commission for the intermediary at your expense
There is no real sense anyway. I would never sign something like this, which makes no sense and could be maximally negative for me, since it has no advantages.