Immo456
2018-05-06 11:29:34
- #1
Hello everyone,
we are going to build a house, which is estimated to have total costs of 381 T€ (notary, property transfer tax already included). Of this, we bring equity of 15 T€ and "muscle mortgage" of 29 T€. The financing requirement is then 337 T€, i.e. about 89%.
Together we earn 4,400 T€/monthly, employed, special expenses are loans of 530 €/monthly until mid-2019, no children.
We have compared all financing options, but they are all still from February 2018, a current offer from April/May 2018 would only be this one, because we had some difficulties and now have to decide quite quickly.
Conditions are repayment 2% (about 1200 €/monthly), special repayment 5%, no right to change repayment, 20 years fixed interest rate, must take out a term life insurance (RLV) with their partner for at least one person approx. 11 €/monthly (market comparison showed about 9 €/monthly). Max. contribution approx. 17 €. For my partner we take out insurance elsewhere..
Construction financing consists of two parts, 200 T€ and 137 T€.
We get 200 T€ for
2.28% nominal
2.44% effective (here the RLV was included)
6 months interest-free provision period
We get 137 T€ for
2.35% nominal
2.38% effective
12 months interest-free provision period
I think the offer is okay and would be similar elsewhere. Only the required RLV that we have to take out with them bothers me... Does anyone have experience with such conditions?
What is your opinion? Do you agree regarding the interest rate considering the conditions, and can one overlook the RLV or would you say we should keep looking, since even at 89% financing something better could be found?
I am grateful for any answer and opinion!
we are going to build a house, which is estimated to have total costs of 381 T€ (notary, property transfer tax already included). Of this, we bring equity of 15 T€ and "muscle mortgage" of 29 T€. The financing requirement is then 337 T€, i.e. about 89%.
Together we earn 4,400 T€/monthly, employed, special expenses are loans of 530 €/monthly until mid-2019, no children.
We have compared all financing options, but they are all still from February 2018, a current offer from April/May 2018 would only be this one, because we had some difficulties and now have to decide quite quickly.
Conditions are repayment 2% (about 1200 €/monthly), special repayment 5%, no right to change repayment, 20 years fixed interest rate, must take out a term life insurance (RLV) with their partner for at least one person approx. 11 €/monthly (market comparison showed about 9 €/monthly). Max. contribution approx. 17 €. For my partner we take out insurance elsewhere..
Construction financing consists of two parts, 200 T€ and 137 T€.
We get 200 T€ for
2.28% nominal
2.44% effective (here the RLV was included)
6 months interest-free provision period
We get 137 T€ for
2.35% nominal
2.38% effective
12 months interest-free provision period
I think the offer is okay and would be similar elsewhere. Only the required RLV that we have to take out with them bothers me... Does anyone have experience with such conditions?
What is your opinion? Do you agree regarding the interest rate considering the conditions, and can one overlook the RLV or would you say we should keep looking, since even at 89% financing something better could be found?
I am grateful for any answer and opinion!