Rheingauer
2018-08-19 11:12:59
- #1
I have an offer for financing of €150k for partial purchase & renovation measures.
The conditions are 1.25% interest and 6.55% repayment, which results in a monthly installment of €973.
Prepayment options are at 10%. The bank assured me that I will receive 20% of the loan amount paid out without submitting invoices. That would, of course, make it flexible, as I can do a lot myself and I don't have to submit every invoice.
Are there any pitfalls to watch out for here?
The conditions are 1.25% interest and 6.55% repayment, which results in a monthly installment of €973.
Prepayment options are at 10%. The bank assured me that I will receive 20% of the loan amount paid out without submitting invoices. That would, of course, make it flexible, as I can do a lot myself and I don't have to submit every invoice.
Are there any pitfalls to watch out for here?