Follow-up financing with a home savings contract, how to secure the interest rate for the 2nd loan?

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82160[/ATTACH] Hi all,

I am faced with the question of how to deal with a building savings contract/forward loan, with which I


[*]have to refinance a real estate loan (consisting of two loans)
[*]could partially refinance a second one
[*]might need short-term equity for an investment in a photovoltaic system


I would like to know if my considerations are correct and would appreciate any tips.

Starting point:

Loan 1a & b are for one property, Loan 2 is for another property.

Loan 1a (1.7%) matures on 30.11.24. Remaining debt approx. €23,000
Loan 1b (1.9%) matures on 30.11.24. Remaining debt approx. €38,000
>> So I need about €61,000 on 30.11.24

Loan 2 (2.6%) matures only on 30.01.30. However, 10 years will have passed by 30.01.25.
Remaining debt on 30.01.25: €57,000.

I concluded a building savings contract back then with a volume of €80,000 and a secured interest rate of 2.6%. This will be allocated this year (at 30% payment) and was intended to fully refinance Loan 1. Due to special repayments in Loan 1a, I am already further ahead than planned.

My idea:


[*]Clear case. I have to refinance Loan 1. Due to the interest rate situation on the market, of course I will do this using funds from the building savings contract. Probably nowhere else will I get such a cheap follow-up financing.
[*]I will keep Loan 2 running and hope that the market will look different in 5 years.
[*]I will use the remainder/a part from the building savings contract (approx. €19,000) as equity for the photovoltaic system.


However, I now have a few questions:


[*]When the building savings contract is allocated:
[LIST=1]
[*]Will the provider inform me, or do I have to do something?
[*]Can I then withdraw flexibly? For example, €15,000 in 02.24 for the photovoltaic system and then the rest in 11.24 for the refinancing of Loan 1? Or do I have to take the €80,000 all at once?


[*]Can I even use the money from it for the photovoltaic system, or does it have to be used specifically for real estate?
[*]Can I withdraw money from the building savings contract for Loan 1 and at the same time continue to pay into it to be able to withdraw something again for Loan 2 in 2030 at 2.6%? So secure the interest rate further, to cover the remainder of Loan 2 with it in 2030?
Specifically, withdraw only €60k from the €80k. Pay into the building savings contract for 5 years and then (if, for example, I have "repaid" €20k of the borrowed €60k in 5 years) get the difference of €40k (of the €80k) for the 2.6%? Hard to describe, does anyone understand?
[*]Does it possibly make sense to make special repayments in Loan 2 with funds from the building savings contract (I can repay €4,000/year as special repayments in Loan 2)?

Otherwise, to possibly bring some creativity into this construct, if anyone has a completely different idea:
I still have a huge contract that I could dissolve without much regret due to poor performance (DWS) (approx. €12,000) as well as almost €8k in ETFs. I didn’t necessarily want to touch these, but if it helps enormously, why not...

I look forward to hearing what you would do,

Thanks!

A building savings contract is not a checking account where you can deposit and withdraw as you please. Either you do not accept the loan and receive your balance, or you enter into a loan agreement when it is ready for allocation. Whether the building society wants to be registered in the land register, you have to clarify. Building savings loans may be used for photovoltaics.

Partly, it is possible to split building savings contracts and/or increase building savings amounts. However, the building society must agree (and there may be costs involved), and especially when increasing the amounts, I can imagine that they currently will not do this under your original conditions because it would be disadvantageous for them.

In case of doubt, you need to clarify this with your contract partner.

P.S. I am not a building savings expert

Thank you very much - I had imagined the "Auszahlungsphase" of the building savings contract differently. But your answers and the options make sense to me. So no "spielereien" possible.