ostsee
2011-10-29 16:59:59
- #1
Hello everyone,
after we now have the rough cost estimate for our house building plans, we are starting to think about financing.
Of course, I also have questions that arose from the various conversations.
1. Prepayment penalty
For example, we still have a loan running with a remaining volume of €85,000. The contract term (fixed interest period) is until 2024 with 4.47%.
I would like to terminate this contract, buy it out from the bank, and take out a new (higher) loan with better conditions.
How high is the prepayment penalty approximately?
Or can it also happen that the bank refuses something like this or artificially calculates it so expensively that it is not worth it for us?
Or are there legal regulations on which a prepayment penalty is calculated?
2. Pledge exchange
Our house bank told us that a pledge exchange occurs when selling our house, which is currently pledged as collateral for the above-mentioned loan. This costs about €1800.
Based on which criteria is a pledge exchange calculated? Is it the notary fee for the transfer or a negotiable amount?
For our previous loan of €170,000, notary fees of only €870 were incurred, so I am surprised by the €1800.
3. Registration of security for a loan
What costs are incurred if, for example, we register security of €235,000 on our new property? And how are these calculated?
Unfortunately, our "advisor" at the house bank is not particularly diligent and does not want to disclose all the alternatives we have.
Thank you for your support
Ostsee
after we now have the rough cost estimate for our house building plans, we are starting to think about financing.
Of course, I also have questions that arose from the various conversations.
1. Prepayment penalty
For example, we still have a loan running with a remaining volume of €85,000. The contract term (fixed interest period) is until 2024 with 4.47%.
I would like to terminate this contract, buy it out from the bank, and take out a new (higher) loan with better conditions.
How high is the prepayment penalty approximately?
Or can it also happen that the bank refuses something like this or artificially calculates it so expensively that it is not worth it for us?
Or are there legal regulations on which a prepayment penalty is calculated?
2. Pledge exchange
Our house bank told us that a pledge exchange occurs when selling our house, which is currently pledged as collateral for the above-mentioned loan. This costs about €1800.
Based on which criteria is a pledge exchange calculated? Is it the notary fee for the transfer or a negotiable amount?
For our previous loan of €170,000, notary fees of only €870 were incurred, so I am surprised by the €1800.
3. Registration of security for a loan
What costs are incurred if, for example, we register security of €235,000 on our new property? And how are these calculated?
Unfortunately, our "advisor" at the house bank is not particularly diligent and does not want to disclose all the alternatives we have.
Thank you for your support
Ostsee