Neubau2022
2022-05-06 14:29:50
- #1
Hello everyone,
we received the loan agreement for our house construction yesterday. The loan agreement does not mention the offered 12 months interest-free provision period anywhere; it only states that after 12 months, X% provision interest must be paid on the loan amount not yet drawn. Is this standard?
And second question: Is it practically conceivable that the bank transfers the entire loan amount immediately and thus the normal loan interest accrues? I also cannot find a specific regulation about this in the contract.
We will go through the contract with our financial advisor next week, I just want to be prepared.
Thanks to you all.
In our case, it was agreed that I would provide proof of the invoices for the drawn amount within 3 months. The last amount up to €20,000 did not have to be proven. We are now at 2/3 of the drawn amount and still have about 5 months interest-free provision period.
Please do not confuse provision interest with the normal interest payment. If, for example, you agreed on 2%, you immediately pay 2% on the amount after drawing, e.g., €100,000.