Loan offer for refinancing

Even I overlooked the last part.

to #4
What is the current loan amount?
55,000 €
What is the current installment? Will it be maintained?
Currently approx. 500€, if I agree to the mixed interest rate deal approx. 400€ with the same repayment of 4%
How long is the new fixed interest period from today and how long would the forward go from 2020?
10 years and the forward would also last 10 years.

to #5
Why is the paperwork for the forward loan too much?
It would have to be treated like a new loan, I would have to submit all documents with current proofs to my house bank.

I will probably look for an intermediary...

Does anyone know one? ;o))

So the mixed interest rate deal starts "today" for 10 years until 2027 and the forward from 2020 then 10 years until 2030?

Understood correctly so far?

Then you save roughly about 2,250 euros over the next 3 years through the 3 years, but will probably pay an additional 400 euros annually afterwards... after 6 years you are about even, after that you pay more (and your fixed interest period ends earlier).

Basically, it remains an Excel task. So sit down and calculate interest. The one where you pay less (with the same interest rate security) is the better choice.

to #6 Did you understand the construct correctly, or was it explained to you correctly? I think so Interest repayment You probably didn't talk about that at all, right? If reduced to 1%, I would need a justification and evidence why, he immediately referred to our vacation account at 2% also only with conditions, which I unfortunately don't remember anymore, I think he said with a certain procedure (paperwork) Just wishing and then reducing, is not possible...

So the mixed interest rate deal starts "today" runs for 10 years until 2027 and the forward from 2020 then 10 years until 2030?

Have I understood that correctly?

yes