Follow-up financing is due - any recommendations?

sorry but a typical example of what you were warned about. Chosen too short and minimum repayment. Probably the AF doesn’t hurt you. However, it should have been managed differently.

Yes, that is correct. One of several mistakes we made. Fortunately, in our case, the mistakes do not threaten our economic existence.

Can someone please ask ChatGPT about the currently lowest interest rate?

Email registration is enough, I did that three weeks ago. But you won't get anything useful out of it. ChatGPT doesn't learn anything new, the model is trained on day X and that's it. It does do some online searching sometimes, but the quality is like any random search engine. But whatever, asking doesn't cost anything:

As of 2024, interest rates for a follow-up financing can range between about 2% and 5% depending on the factors mentioned above and the current market situation.

How should we proceed to get a cheap follow-up financing?

Cheap in terms of interest, or cheap in terms of low installments, i.e. minimal repayment with maximum term?

Cheap in terms of interest, or cheap in terms of low installment, i.e. minimal repayment with maximum term?

Cheap in terms of interest, 2% repayment, amount 116,000, term 10 years.

We have made our decision and I would like to inform you, also as a thank you for your help and support:

Loan amount 116,000 euros - fixed interest rate period 10 years - nominal interest rate 3.31% - effective annual interest rate 3.38% - repayment 2%
(multiple changes to the repayment rate possible, special repayment option 5% per year)

This is acceptable for us so far, the higher interest rates are compensated by higher income. However, we still have to wait for the contracts, as we concluded through an intermediary and, as is probably known, the lending bank decides on acceptance and final terms.

Funny about ChatGPT on the side:
From it I received the information that interest rates range between 3.2% and 3.6%. However, not the information where I can get 3.2%. Nordanney and Tassimat have already written something about this.