Error in financing?

yes, then it seems to be going in that direction... somehow I also have in mind right now that when writing down at Position II it was said "then we have the building savings contract..." and then at Position III "the remaining amount"... I don't know what it means to have a building savings contract where you first receive an amount and what happens afterwards - but even in this case it was kept quiet that the rate then increases after 15 years?

but even in this case it was concealed that the rate then increases after 15 years?

As I said, it might be. I’m not a financier, I just have experience. As I have calculated it, it could fit. You have a bullet loan of €100,000 that you don’t repay at all, but pay monthly interest of €112.50. At the same time, you are saving into a building savings contract, which becomes eligible for allocation after about 15 years. Only then do you start to repay with the building society loan. This is a structure that every bank proposed to us initially. One of the drawbacks of the building savings contract is also the closing fees of 1%, in this case a hefty €1,000.

hm... but I still don’t quite understand...

so the building savings contract - after 15 years I have only paid interest and simultaneously saved money - what is the 27k saved used for then? It’s basically totally irrelevant whether you first save and only pay interest and then use the money as a special repayment or pay it off directly. It comes out the same...

Or should the saved amount then go into Position III, so that this would be finished after 30 years? But then the full 100k would still be in Position II and the rate there would then skyrocket.

That would be so sneaky that I would probably not want to conclude anything anymore with such advice...!?

No, it does not come out the same.

As long as savings are accumulated, no repayments are made. Accordingly, the same high interest amount is permanently incurred.

With a repayment, interest on the repaid amount is saved immediately from now on and for the future.

In return, with the Bauspar contract, one receives a negligible interest credit on the savings amount.

It is and remains an individual decision which option is the cheapest and best variant for someone.

Bauspar products are always somewhat opaque and should definitely be understood by the customer!

Keywords: Bullet loan with repayment substitute vs. annuity loan

They still haven't told you the whole truth. But from a seller's perspective, 15 years is very, very far away.

What is also nice about end-payment products with TA is that the building society loans are not obliged to state an overall effective interest rate.

Many are initially blinded by the apparently low interest rates that are each quoted for two periods. If you want to compare that with a classic annuity loan (which you can calculate), the surprise is big.

But the rate quoted over 30 years also does not fit the building savings contract model.

okay, thanks for the answers. That's exactly why I recalculated, because I didn't want to blindly be happy about the rate and I thought that the rest would be discussed in 15 years. Of course, I want to be able to fully understand it right away and I would also rather pay a little more interest for a longer fixed interest period without such a [Bausparvertrag] etc.... There will surely be other options or I will also talk to other bank advisors...