Loan Agreement - Save Building Savings Contract First?

Hello, the special repayment of 5% of the total loan amount is free of charge and is also specified in writing, well the loan doesn't break because of that, it just gets paid off faster. But I will ask on Monday then I will know more. Regards abo

Prepayment costs a bit more because you always pay a slightly larger amount of interest for 11 months than if you pay a little less monthly (compound interest...). The difference is not big.

Interesting, I would have thought the exact opposite, I make prepayments now and then have to pay less interest for 12 months. It all depends on when the prepayment can be made :D

Hello, the question has been resolved, I was at the bank today and the nice man from the bank said that the repayment cannot be increased temporarily but I can make 10% annual special repayments without additional costs.
Best regards abo

I did it this way: once one loan was gone, I saved half of the monthly payment in a savings account until I had the lump sum together. Then I transferred it; for me, it was only 5%. We worked for the rest ourselves, it's also nice to have more money in your wallet sometimes...

Hello, the question has been settled. I was at the bank today and the nice man from the bank said that the repayment cannot be increased temporarily, but I can make a 10% annual special repayment without additional costs. Regards, abo

My house bank is also Sparda. I also had my first financing there. At that time, it said that you can increase the repayment to a maximum of 4%. No more.

What was great about Sparda is that you can even change the repayment annually without additional costs. It is still like that! But limited to a maximum of 4%.

I would make the special repayments and keep my monthly burden the same.

I would make the special repayments and maintain my monthly burden.

Hello, yes, I will do it that way too, whether I manage the 10% remains to be seen!