Is the credit okay like this? Or would you prefer to increase it to 15 years?

Hello :)

Current situation

€320,000 loan
1.58% nominal interest rate, 1.63% effective
€1,600 repayment / month
Fixed interest period of 10 years

Repaid amount at the end of the fixed interest period
€151,748.94
Remaining debt at the end of the fixed interest period
€176,251.06
Total interest payments made
€40,251.06

But here comes the decisive factor that a special repayment of up to nearly €16,800 / year is possible.

Depending on the amount, it could be finished within the 10 years as well.

Increasing to 15 years would unfortunately bring me to 1.83%. What do you think?

You have stated the facts and have basically already answered your own question. You won't get more help from a stranger.

Is there a REAL chance to make at least 50% of the mentioned special repayment annually (after all, €700 monthly)? If yes, then you don't need to lose sleep over it and just let it come to you.

Are you already worrying about what will happen if interest rates are 5% higher in 10 years? Then buy yourself security cheaply for 0.25% and enjoy 15 years of peaceful sleep.

You have stated the facts and basically answered your own question. You won't get more help from a stranger.

Is there a REAL chance to pay at least 50% of the mentioned special repayment annually (after all, 700€ monthly)? If yes, then you don't need to lose sleep over it and just let it happen.

Are you already worrying about what will happen if in 10 years the interest rates are 5% higher? Then buy yourself the security cheaply for 0.25% and enjoy 15 years of peaceful sleep.

Chapeau!

For the next 5 years, I can definitely guarantee that. Brief breakdown.

About 4000€ in vacation pay
Another 3000€ additionally as Christmas bonus

Of course, provided you only want to put that into the loan. You can add around 2500€ more from holidays and overtime if the year is good.

I like the challenge, but with such amounts, you shouldn’t take unnecessary risks.

My bank advisor told me that such terms and such "high" repayments are not the norm for most people, so it would have been interesting to hear your thoughts on that.

For the next 5 years I can definitely guarantee that.

That is already half the battle.
The first years are the most productive!

That's already half the battle. The first years are the most productive!

Hey!

Yes, that's true, it at least significantly changes the ratio of repayment to interest!

But you also want to do this or that to the little house sometimes. I already have the wildest ideas and haven't even moved in yet :o

Hey!

Yes, that's true, it certainly changes the ratio of repayment to interest significantly!

But you also want to do this or that to the house from time to time. I already have the wildest ideas and haven't even moved in yet :eek:

At the beginning, you don't need to do anything.
The only thing you should keep in mind: include the outdoor facilities in the loan. These costs will never be recovered "over the years".