Building savings contract pre-financing or interim financing

Hello,

my home savings contract will only be eligible for allocation in 2015, as the required valuation number will only be reached then. The savings amount is already high enough. Now I have heard that one can still use the home savings contract in the form of pre-financing!!!???

Who among you has experience with such pre-financing, also called interim financing, and what should I pay attention to? Are there any special features or disadvantages if I "bring forward" this home savings contract even though the valuation number has not yet been reached?

I would be very grateful for a few tips and hints.

Best regards

Hello

you have to ask your Bausparkasse what interest rate the bridging loan has. A question about the Bauspar contract. What interest rate did you agree on back then? Often, the Bauspar contracts that are allocated now or in the future (1-3 years) are often too expensive in the current interest rate phase.

You should perhaps do your financing entirely through the house bank / KfW and either use the Bauspar contract for a later renovation or have it allocated without taking out the loan. The nice thing is you should usually receive a bonus interest for non-utilization with which you can make a special repayment (e.g. with [Wohneigentumsprogramm] without prepayment penalty).

The interest rate was 3.5% at that time (loan phase). It is a 100,000 building savings contract.
Everything I could find on the topic of bridge financing on the LBS website is as follows:

"A bridge financing loan (ZK) is therefore used to bridge the waiting period until the allocation of the building savings contract and is automatically redeemed at the allocation date by the building savings sum.

Until then, interest is incurred on the bridge financing loan at market conditions. Afterwards, you can enjoy the advantages of the LBS building savings loan!

Minimum balance, allocation date, bridge financing - you are not always quite sure what that is? The LBS building savings glossary helps you. Or you can ask your local Sparkasse or your LBS advisor."

Hello

3.5 for which loan term? That is too high for an assumed 100% financing and about 7 years term. It wouldn't be worth it. All subject to change. You would have to have a full financing calculated. Have you already had that done?

Hello. Yes, I had it calculated.
Term 16 years
No 100% financing
Monthly rate: 400 €

Hello, yes, I want to do it in a similar way. We need €200,000 for the house. A building savings contract (BSS €100,000) is also available and 40% is almost paid in, not much is missing. That means half of the financing is clear. The other half is still under consideration. I don't know what is cheaper, but I have two options in mind.

1. Option: Bank mortgage €100,000
2. Option: KfW €50,000 + Bank mortgage €50,000

Has anyone already gone through such financing or does anyone have any tips and ideas regarding this?