Construction financing with ETW as security for the loan

Or 370,000 with a 5-year fixed interest period, because then the condominium could be sold.

Have you also thought about selling the apartment now? If you have used it yourself until now, it is tax-free. And with 43k remaining debt, the prepayment penalty cannot be that high. Renting always carries some risks like vacancy, rent default, repairs, etc.

Have you also considered selling the apartment now? If you have used it yourself until now, it is tax-free. And with a remaining debt of 43k, the prepayment penalty cannot be that high. Renting always carries some risks like vacancy, rent default, repairs, etc.

Good morning, the idea is also there, but unfortunately, the financing must be secured before the sale can go through. I don't want to rush anything now and tend to go for 10 years fixed interest to rent it out and possibly sell it in a few years. Flexibility is particularly important to us.

Today the first talks with banks & brokers begin.

Interhyp & Dr. Klein are on the agenda. I will report.

I'm not sure if that's possible, but maybe you could also provide interim financing for about a year or so. During that time, you could sell the apartment and secure new financing.

I'm not sure if that's possible, but maybe you could also provide interim financing for about 1 year. During that time, you could sell the apartment and arrange a new financing.

Thanks for the tip, I will take that into account and report today on the outcome of the discussions with Dr. Klein and Interhyp.

Feedback - conversation with Tecis - They recommend a 15-year fixed interest period because according to the building code you can cancel free of charge after 10 years. There aren't many banks that offer 110% financing + 10 years fixed interest period. One consideration would be to put the equity on the ETW. I could get used to that idea but would prefer to keep the ETW unencumbered, if possible.