Financing: Restructuring of KfW loan for the condominium

Exactly what I mean: what costs do I have to consider, is a 0.8% interest saving over 8 years worth it? If I now get 2.99% fixed again for 10 years at my original bank, do I have an advantage then?

Where can I find addresses for such preliminary inquiries? I don’t know any. Is that trustworthy?

Exactly what I mean: what costs do I have to consider, is a 0.8% interest savings over 8 years worth it? If I now get 2.99% fixed for another 10 years at my original bank, do I have an advantage then?

I'm not sure, but I could imagine that it has to go again through a notary and the land register.
I can't say exactly how much the costs add up to.


If only 8 years of repayment are really planned, I would have the whole thing recalculated with a 5-year fixed interest rate.
The loan amount and thus the interest expense for the remaining 3 years should be manageable.
Currently cheaper, but more risky, would be a variable interest rate without fixed interest.

The assignment of the land charge (in case of repayment by a third-party bank) is likely to be around EUR 200. Your house bank does not need this, as the KFW does not register its own land charges. What amounts are we even talking about? 0.8% on TEUR 50 is EUR 400 x number of years of term (interest saved due to repayment not considered).

Hello

I have to ask a stupid question again! The loan has been running for 2 years. Can it be terminated at all without a contractual penalty? And why was a KfW loan granted for a rented apartment? Is it a renovation loan?

The interest rates have dropped enormously. So I thought about refinancing our KfW loan for a rented condominium that has been running for two years. 3.8% seems very high to me at the moment.
Why does the bank say that for such a request no less than 2.99% is possible? Friends have just refinanced an old residual loan at 2%.

I don’t understand.

Regards Carl

So the contract states that the early repayment of the loan...is permitted free of charge at any time within the first fixed interest period either as a one-time full repayment or in partial amounts.... Penalty??? I think my bank advisor would have mentioned that right away and not offered me 2.99%.

By the way, the apartments were newly built with this Standard 55/70 Energy Saving Ordinance. Therefore KfW.

So I will pay close attention to any costs incurred during the conversation with the bank. I think I can demand to be informed of all ancillary costs in advance. 400€ x 8 years term is no small matter, even after deducting obvious costs. The bank always acts as if, for example, 2000€ is "nothing"... For me it is!

So in the contract it says, the early repayment of the loan... is allowed free of charge at any time as a one-time full repayment or in partial amounts within the first fixed interest period.... Penalty??? I think my bank advisor would have said that right away and not offered me 2.99%.

By the way, the apartments were newly built with this Standard 55/70 Energy Saving Ordinance. Hence KfW.

So I will pay close attention to any costs in the conversation with the bank. I think I can demand to know all incidental costs in advance. 400€ x 8 years is no small matter, even after deducting obvious costs. The bank always acts as if, for example, 2000€ is "nothing"... For me it is!

Due to the annuity, it is not 400€ x 8 years but (with even repayment) only about half. So approximately 1600€ savings. On the other hand, the costs for the land charge reassignment would have to be taken into account, which (if you calculate very precisely) would be financed with the new loan and thus have to be paid interest on again.