Forward loan for 09/2024 - accept or wait?

2022-01-19 11:34:36

There are banks (not so many) that offer forward deals already 5 years in advance... you have to weigh up whether to wait or to pay an interest surcharge for 5 years.

There are more offers because there are more banks if you do it about 3 years in advance (that is 36 months).

And there is no surcharge if you do it 6-12 months in advance.

You always have to calculate or weigh what is more likely?
Do I pay now for 3 years about 0.45% interest surcharge? (36 months - 6 months (free) x 0.015% surcharge per month) or if I assume that the interest rate will rise less than 0.45% in the next 2 years, then I wait...

2022-01-19 17:27:57

Hi,
may I join in here, because we are currently having almost the same thoughts. We can take out our forward loan for 11/2024. The remaining debt at that time will be €156,000. We are considering taking out a forward loan of €200,000 because, firstly, we want to invest a little in the house and secondly, because the offered interest rates from €200,000 are better than at €156k. Is that really true?

The house should currently be worth around €650,000.

We have the following offers with a 10-year term, full repayment:
156k, DSL Bank 1.05% nominal rate
200k, DSL Bank 0.91% nominal rate

Given the current situation/development, I cannot imagine getting similar conditions in 2024. I compared mid-last year, and the conditions were better then; over the 10 years we would have saved around €2,500 in interest.

What do you think?

2022-01-19 17:37:53

Do you have a postal code for me where the house is?
And civil servant or employee in the public sector? (because then the DSL Bank has an interest rate discount!)

If not civil servant/public sector, then the DSL Bank currently offers (through us as intermediaries):
156k = 1.03%
200k = 0.88%
Payout on 30.11.2024 (30.10.2024 would be a bit cheaper)

As a civil servant/public sector employee, there would be an additional 0.05% interest rate discount at DSL Bank, so then 0.98%/0.83%
(the postal code would still be interesting, as DSL Bank sometimes offers 0.05%/0.10% interest rate discount depending on the region)

2022-01-19 17:46:32

do you have a postal code for me where the house is?
and civil servant or employee in the public sector? (because then the DSL Bank offers an interest discount!)

if not a civil servant/public sector, then the DSL Bank is currently at (for us as intermediaries):
156k = 1.03%
200k = 0.88%
Payout on 30.11.2024 (30.10.2024 would be slightly cheaper)

as a civil servant/public sector there would be an additional 0.05% interest discount at the DSL Bank, so then 0.98%/0.83%
(the postal code would still be interesting because the DSL Bank sometimes offers 0.05%/0.10% interest discount depending on the region)

Thank you for your feedback!

The postal code is 22946. Hm, I do not work 'directly' in the public sector, but it is very close to it. Can that help? :)

My current bank informed me: 'Remaining balance as of 11/2024 (termination according to the Building Code 488) approx. EUR 156,000.' When would be the payout date then?

2022-01-21 06:53:59

Hi,
may I join in here, because we are currently having almost the same thoughts. We can take out our forward loan for 11/2024. The outstanding debt at that time will be €156,000. We are considering taking out a forward loan for €200,000 because, firstly, we want to invest a little in the house and, secondly, because the offered interest conditions from €200,000 are better than at €156k. Is that really true?

The house should currently be worth around €650,000.

We have the following offers with a 10-year term, full repayment:
156k, DSL Bank 1.05% nominal interest
200k, DSL Bank 0.91% nominal interest

Given the current situation/development, I can’t imagine being offered similar conditions in 2024. I compared last year around mid-year, the conditions were better then, we would have saved about €2,500 in interest over the 10 years.

What do you think?

Good morning, you can’t say that in general. But yes, the larger the volume, the more often there is an interest discount. Just ask a broker.

2022-01-21 06:54:59

From when can you start thinking about forward loans? We bought our house in 2015. So 2026 is still a bit away but just for the later future... Thanks!

Good morning, just ask an advisor. There are not many banks that conclude forward loans so far in advance, but it might be interesting at the moment. Asking doesn't cost anything.

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Forward loan for 09/2024 - accept or wait?

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