Building savings contract and payment amount vs. contractual regular savings contribution

Hello everyone,

we are currently gathering information about home savings contracts and were about to conclude one. During this process, we noticed this note from the building society (in this case LBS, I have also seen it in corresponding offers from BHW) in the terms and conditions:

If the saver has not paid the full amount of the regular savings contributions in the previous calendar year, the building society can request the saver in text form with a notice period of 3 months to pay the corresponding difference. The additional demand may not exceed the difference between the regular savings contributions payable since the contract began minus the actual savings payments made (regular savings contributions and special payments). If the saver does not comply with this request, the building society can terminate the home savings contract in accordance with § 14 paragraph 5a).

From the outset, 600 € per month were agreed upon in order to reach around 225,000 € within 15 years. Paying less or more should be completely unproblematic at any time. The regular savings amount - which had not been mentioned until then - is 916 €. It does not exactly correspond to the flexibility praised all around in the consultations if the building society can say at any time "well, but no more now." Just imagine that after 10 years, if indeed only 600 € per month were paid... That’s not really professional, is it?

I am not a finance person... but for the construction, I have only had the balance of my [Bausparvertrag] paid out... unattractive loan interest rates...

And at that amount, you first have to pay over €2,000 in closing fees.

What do you want to do with the money in 15 years? With the price increase, the €225,000 is no longer the €225,000 of today.

(It may well be that you have reasons for wanting a [Bausparvertrag]... But I just wanted to vent about mine. Hope I still helped you)

The final fee even exceeds 3500 ^^" We will probably repay a loan early with it in about +- 15 years.

Isn't there a possibility to incorporate the rate of 600 (!) € you have planned into the loan within the 15 years through special repayments or something similar?

And of course, for the 3,000 € closing fee, I would have other things in mind

Sure, one could. It should still work out better with the [BV]. The conditions are 2.2% over 20 years, we want to repay the remaining debt of exactly 225,000 after 15 years with the [Bausparvertrag] (interest then 1%).

1% is attractive. But at €600, after a short calculation, you are below 60% of 225,000, do the attractive interest rates still apply then? And please consider that for the accumulated amount (approx. €100,000) you could save 2.2% interest over the loan term if you repay the loan. That is a five-digit amount in interest costs.