Follow-up financing for two loans with different terms

  • Erstellt am 2022-02-03 17:09:23

BBaumeister

2022-02-03 17:09:23
  • #1
Hello everyone, maybe someone here already has experience with the following situation: We have split our mortgage into two loans. When the fixed interest period of one loan ends, we still have a fixed interest period of five years on the second loan, but could exercise a special termination right. The loan-to-value ratio would then still be 60% overall, which makes me expect good conditions.

Has anyone experienced this case before? Does the bank offer a new "complete package"? Or will the bank obstruct because they are still earning well from the loan with the long fixed interest period (we originally concluded it at 2.1%).

What would you do? We would prefer to have a complete package with a 15-year fixed interest period as a full repayment borrower. Then I would be 62 years old and the house would be paid off.
 

Marit

2022-02-03 19:00:44
  • #2
Yes, we have done exactly that recently. Both loans were combined and now a new one was taken out for 10 years. Our bank no longer offers full repayment loans or you don't get better conditions that way. But since an automatic special repayment of 5% annually is possible, that works fine.
 

driver55

2022-02-03 20:13:51
  • #3
You just have to calculate it.
Why special termination right?
Costs?

Please provide all the figures (loan/interest/term/repayment…) from back then…
 

WilderSueden

2022-02-03 21:59:41
  • #4
Special termination right after 10 years due to [489 Baugesetzbuch]
 

HilfeHilfe

2022-02-04 05:53:43
  • #5
Hello, I would first have the current bank inform me of the possible repayment dates (including the special termination right) and the balance. And then you get an offer from your house bank and from an intermediary.
 

BBaumeister

2022-02-04 08:37:51
  • #6


The special right of termination exists due to the expiration of the ten years.
The two loans originally amounted to 370,000 € at 2.16% interest with a 15-year fixed interest period and 400,000 € at 1.51% interest with a ten-year fixed interest period.
For loan 1, 240,000 € are still outstanding, for loan 2, 260,000 €.
We would like to have the entire remaining amount fully repaid after 15 years.
 

Similar topics
03.05.2011KfW loan okay or is there a cheaper option?10
30.04.2013Loan with an interest rate of 2.51% - Tips for financing22
23.08.2013Financing existing property - Attention beginners ;-)13
29.07.2014Fixed interest period and loan term for 10, 15, or 20 years?12
18.04.2015Is a building savings contract still worthwhile with the current interest rates?10
27.03.2017Forward loan - Secure interest rates now?53
05.09.2017Finance land/house separately - fixed interest rate11
31.07.2018For how many years of fixed interest period would you currently finance?57
02.07.2019Financing with a 35-year fixed interest rate52
16.11.2018Combination of building savings bank, KFW and loan10
21.06.2019Larger loan with only 5 years interest fixation14
31.07.2019Is a bullet loan and ETF currently worth considering?27
14.05.2020Financing Land & House - 2 Different Loans34
11.01.2021Financing offer: TA loan with building savings contract24
12.03.2021What is the interest rate lock period in construction financing?92
03.12.2021Financing a condominium: full repayment or not?29
14.02.202210 or 17 years fixed interest rate on a 250k loan?24
29.09.2022High interest rates with fixed interest, alternative flex loans?54
13.01.2023Forward loan, special termination, fixed interest rate, experiences?12
11.10.2023Loan for land - variable vs. fixed with special termination right16

Oben