What exactly does "the savers repay the loans" mean? And if that happens after 10 or 12 years, what happens to the remaining debt until year 16 or 23?
So if I understand correctly, "gerdchen" means that after the 10-year fixed interest period, the building society contracts are ready for allocation and these building society loans (now with secured interest) replace the loans. The building society loans are then fully paid off after 5 or 12 years. That means the total financing is completely repaid after 15 or 22 years.
And I already thought I was writing completely incomprehensible stuff here, but thanks to Goldbeere it seems not to be the case. Sorry Meecrob, but apparently we both don't understand each other. ;-)
Just like Goldbeere, I understood it that way too. But what happens to the remaining debt after 12 years? The "fully funded" building savings contracts are then paid out and offset against the remaining debt. However, since the loans are only paid off after 22 years, something must still be paid during this interim period.