Interest rate fixation

Hello,

a friend of mine did the same, the money was enough to cover the required 50% and she was then able to draw the loan after 2 years. The interest rates are fixed at the time of the contract conclusion and do not change afterwards.

see you
Schneider

Get offers from a few banks, currently you should see that you can secure the low interest rates. Investing money is currently a safe thing, because the debts remain with you no matter how times will turn out.

tschau Lila

Long-term interest rates are no longer as expensive as they used to be

With traditional banks, maybe still somewhat. With real estate financiers, a longer-term fixed interest rate can sometimes be cheaper.
More important is actually the loan-to-value ratio.

I now have 4.23% effective with 20 years fixed interest and am happy about the planning security.

For your case, a forward loan is more suitable if you don't want to start immediately. Otherwise, the commitment interest will eat you up. But compare carefully - Often forward loans are not necessarily cheaper despite the low offered rates. Certain additional costs for interim financing etc. can also occur.
A building savings contract does not have a guaranteed payout date but reaches allocation maturity at some point.

Hello, one more word about the home savings contract: if you pay your capital in a lump sum, it is quite predictable when the contract will be paid out.

by Boogy

Why very precise?

When the contract is fully funded, it only achieves the allocation maturity. However, this does not automatically mean that the money can be withdrawn immediately. That depends on whether enough others have also paid into the fund. Here is an excerpt for those interested.

What is meant by allocation maturity?

Allocation maturity is a term from building savings and means that the saver is allocated their contracted building savings sum. Building savings is a combination of saving and financing, i.e., one concludes a building savings contract for a building savings sum of, for example, €100,000, saves a certain previously agreed portion of it, and upon allocation receives the saved amount (building savings credit balance) and the loan portion (building savings loan) from the allocation fund.
Allocation thus describes the transition from the saving phase to the loan phase. The criteria that must be met to reach the allocation maturity of the building savings contract vary from building society to building society but always consist of three elements:

[*]A minimum savings amount must be present (40% to 50% of the building savings sum)
[*]Minimum contract duration (usually at least 18 months)
[*]Sufficient evaluation score

The evaluation score is a "time and money" measure, meaning both factors are included in its calculation. The method of calculation varies from building society to building society and from tariff to tariff.

Example:

[*]Interest sum method: The evaluation score is calculated from the sum of the interest on the savings balance. Since interest is used as a basis, the time component is considered.

[*]Mixed method: {Savings balance + (Interest * factor)} / regular savings contribution = evaluation score. The factor varies from society to society and tariff to tariff.

The prerequisite for allocation is that the minimum savings and minimum contract duration are met. In addition, the individually calculated evaluation score for the saver must be at least the minimum evaluation score specified by the building society. This ensures that the building savings tariff has a reasonable individual saver - fund - performance ratio.
The minimum evaluation score for upcoming allocations cannot be predicted because the respective volume of the allocation fund depends on the savings and repayment contributions of all savers. Consequently, the timing of the allocation cannot be determined exactly. Depending on the conditions, the savings phase lasts approx. 7 to 9 years.

Thanks already for the numerous responses.
This will probably come down to a [Forwarddarlehen] in my case,
in my opinion there is no urgent need to finalize it in the short term, as the interest rates should first slightly decrease further due to the current deflation (the ECB will lower the interest rates by about 0.5 points again in March, maybe even further down to around 1% in the summer).
The 10-year construction loans will probably then be available for about 3.5%.

Best regards
McFly