Construction financing | Is the procedure good? Your opinion and tips

You can terminate the contract at any time by observing the notice period and have the paid-in money paid out to you.

We have the same problem - however, I only had a building savings contract just to grab the 40 euros advance and save a little. Therefore, I am currently overpaying the good thing with 1200 euros/month and will have it paid out in the fall without losses.

You can cancel the contract at any time by observing the notice period and have the money you paid in paid out to you.

Well, that would of course be an option, I hadn’t even thought of that before. Back then the building savings contract probably had a better interest rate but ultimately, total nonsense, since you would only get the money on some never-never day.

We have that problem too – but I only took out a building saver just to grab the 40 euros advance and to save a bit.

So I am currently over-saving the good thing with 1200 euros/month and will get it paid out in autumn without losses.

That works of course too, if you don’t need the money right away, as I think is the case with you or
With us it was just asked out of interest or checked, since we would only need the money towards the end of the year or beginning of next year and this one is now almost full. But then you get told things like that and you are quite surprised. Tomorrow we’ll just wait and see what the good Mr. Advisor knows.

Yes, I totally missed that too - at first I thought "cool, almost full, there's money"... and then the sobering reality

Sure, with a 6-month notice period it's possible too, but I still see it as an incentive for our equity

Yes, I completely missed that too - at first I thought "cool, almost full, there's money"... and then the sobering reality

Sure, with a 6-month notice period it's doable, but I still see that as an incentive for our equity

The problem they just told us about is that even if it's full, the allocation always takes 2.5 years. If I were to fill it up next year, the allocation would take one month longer. So totally unrealistic, in my opinion. We have to discuss this with Fritze tomorrow, and if it can't be changed, I'll submit the termination of the building savings contract right away. Because we can gladly do without the loan if it's not needed.

What do you mean by incentive for your equity?

Rearranging will not help you, as you always have allocation times - which you can only change slightly.

The incentive is because I pay it into the [Bausparkonto], which I cannot access, and currently save quite a lot there - it adds up quickly.