sinkleb
2013-10-05 23:24:23
- #1
Hello house building forum,
we are currently advancing our project "New construction".
I still don't fully understand Riester contracts as a component of construction financing :confused:
I had a conversation with an advisor regarding construction financing. We were recommended to cover part of the amount with a Bau-Riester contract. This seems to be a common procedure and was also a component in discussions with other banks.
However, we were advised that besides me (Riester contract of over €40,000), my wife (Riester contract of over €30,000) should also take out her own Riester contract in order to receive the full state subsidy. So far, all offers have been exclusively with ONE Riester contract of about €70,000. Is this really sensible and feasible? What would happen if my wife, for example, does not work and has no own income due to children in the coming years? Could I then continue to pay her contract?
Is it even possible (or sensible) to take out a Bau-Riester contract and claim the subsidy if you already have a contract for, e.g., retirement provision? I assume that you can receive a maximum of 4% per year subsidy regardless of the purpose and how many different Riester contracts you take out.
Many thanks & regards
sinkleb
we are currently advancing our project "New construction".
I still don't fully understand Riester contracts as a component of construction financing :confused:
I had a conversation with an advisor regarding construction financing. We were recommended to cover part of the amount with a Bau-Riester contract. This seems to be a common procedure and was also a component in discussions with other banks.
However, we were advised that besides me (Riester contract of over €40,000), my wife (Riester contract of over €30,000) should also take out her own Riester contract in order to receive the full state subsidy. So far, all offers have been exclusively with ONE Riester contract of about €70,000. Is this really sensible and feasible? What would happen if my wife, for example, does not work and has no own income due to children in the coming years? Could I then continue to pay her contract?
Is it even possible (or sensible) to take out a Bau-Riester contract and claim the subsidy if you already have a contract for, e.g., retirement provision? I assume that you can receive a maximum of 4% per year subsidy regardless of the purpose and how many different Riester contracts you take out.
Many thanks & regards
sinkleb