Follow-up financing for subordinate loan

Hello everyone,
we bought a new building 10 years ago. Financed 120,000€ through the house bank and 100,000€ through the NRW.Bank at 0.0%.
Now our income has improved, so that from 05/20 we would pay 3.5% to NRW.Bank for the still outstanding 80,000€.

Our house bank offers us a refinancing at 2.6%, which seems very high to us.
All other banks do not want to refinance a second-ranking loan. The house bank apparently knows this and, due to lack of alternatives, lets us pay the expensive interest.

Does anyone have an idea?
Thanks
Thomas

Hello Thomas,

it would be interesting to know how the banks currently value the house?

the house bank will certainly offer the follow-up financing based on the value from 10 years ago, hence the 2.60%
they also know that 1) not many banks want to be in the 2nd rank and if then 2) only with an interest surcharge = thus uninteresting.

otherwise:
requesting another bank, of course, the 80,000 EUR is also somewhat ungrateful (since under 100,000 EUR).
but savings banks/cooperative banks might be not wrong for something like this.
they would have the house revalued now, and if the current value at the bank is between 250,000-300,000 EUR or more, and you still have about 110,000 EUR outstanding in the 1st rank, then many better conditions for the 80,000 EUR should be possible than the 2.60% (there should be no 2 before the comma!)

Hello, I would also like to have the cost calculated to completely pay off the loan. Possibly an alternative despite 0%

Thank you, completely paying off is unfortunately not possible, we have already extended with the house bank. There are still 75,000 outstanding there.

That was not really clever. It would have been better to award both volumes together.

That was not really clever. It would have been better to award both volumes together.

Correct