Kili1987
2019-07-29 14:58:29
- #1
1) KfW: interest payable: €9,565.66 - other costs (closing fees + security costs + annual fees): €1,317 - interest income: €212.43 = €10,670.23
2) SH: interest payable: €14,518.13 - other costs (closing fees + security costs + annual fees): €1,975 - interest income: €334.89 = €16,158.24
3) Raiffeisenbank: interest payable: €7,902.30 - other costs (security costs): €273.00 = €8,175.30
Total costs at the end: €35,003.77
So what one could do as a comparison:
1) KfW: interest payable: €6,182 + 195 (land register) + 2,337 SH (1,838 interest less 161 credit + 660 closing) = €8,714
2) Cooperative with SH = €9,555 interest + SH €5,324 (interest: 4,190 less €366 + closing €1,500) = €14,879
3) Cooperative with 10% special repayment (0.87% effective!) = €4,700 in interest + €295 security = €4,995
with SH the nominal interest after 10 years is 1.40%
Total costs: approx. €28,600
monthly rate is a bit more intense
1 year (interest-only KfW) therefore moderate at €1,165 monthly (plus the special repayment, so €1,748)
2-10 years at €1,422 (plus the special repayment, so €2,005)
11-16/17 years at €1,728 until 05/2035
then still €1,200 monthly until 03/2036
and done.
so in 17 years instead of 21 years
further alternatives would be:
if you anyway plan to spend over €2,000 monthly (for the first 10 years!)
then €250,000 full repayer in 20 years (0.96% nominal, 0.98% effective), KfW 0.75/0.77%
burden: 20 years with €2,104 monthly
afterwards 11-20 years with €1,145 monthly
total costs also: €28,600
here, however, there is no building society where the allocation point might change in 10 years. So 0.0% risk.
with the option of building societies you always have to take care of it yourself, i.e. call after 5 years and ask if it is ready for allocation by 30.06.2029, if not, you have to save more so that it works.
You should assume that in 10 years more people will use building societies than today, so the scoring points for allocation should be increased compared to the example calculations banks/building societies make today!
So I think I like the part with the building savers a bit more, since with your alternative of the full repayer I have less flexibility (no special repayments, repayment is fixed at €2,005 for 20 years). Yes, it may be a bit more effort and maybe 1-2 months back and forth with the building saver but emotionally a better package.
Could you please send me more details about your first calculation and how I can get such conditions?
Thanks!