Forward loan, does the bank simply terminate it?

  • Erstellt am 2022-12-21 21:36:54

Nutshell

2022-12-22 07:33:28
  • #1


I concluded it in 03/2021. Is it even allowed to name the bank here? Some forums are pretty strict about that. Anyway, it is an established bank that also advertises a lot, and where I also have my checking account. So they could well check how financially capable I am. It was approved quickly because of that.

In retrospect, I’m naturally very happy. The interest rates were at 0.7% in 03/2021. The forward loan for "in 58 months" was at 1.6%. My original annuity loan had a 20-year fixed interest period; now I have locked in 10 years and can repay faster. So it remains at 20 years… no new risk taken.

That interest rates are abnormally low was somehow predictable, that it wouldn’t stay that way forever.
 

SoL

2022-12-22 08:12:11
  • #2
Congratulations, you must have done everything right!
 

Tolentino

2022-12-22 09:05:33
  • #3

You are allowed to mention companies in a non-critical context. You must not advertise or post links, nor refer to other online discussion platforms.
 

ypg

2022-12-22 09:59:55
  • #4

That's exactly what Forward is for.
We have similar figures, but we will also pay off one KfW next year. The second one already is.
Ing-Diba also made us an offer last year and we didn't take it. We were quite dumb. But now we've still gotten 2% Forward.
 

Grundaus

2022-12-22 13:36:04
  • #5

Building societies are allowed to terminate old contracts if the contract is fully saved or has been allocated for at least 10 years. Some also terminate if the regular savings contract payments are not made in order to reach one of the two conditions faster. However, this currently affects contracts with high savings interest rates, which you probably do not have. Whether they will eventually terminate contracts with low loan interest rates is currently probably unknown. But it makes no sense to leave money there at 0.1%. A daily allowance account yields more.
 

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