Offer review financing single-family house 160sqm

2020-07-18 22:56:11

10 years inquiries... Why 20 for the parameters?

What really speaks for 10 years for all components? Currently, there's not even a 0.5 percentage point difference. Assuming over 10 years that the ten-year rates won't rise above 1% again (and for example move again within a recently still completely normal corridor of 1%-2%) is just a bet. You can calculate it – interest costs on €300,000 for 20 years vs. 10-year fixed, and then again 10-year fixed with a max interest rate so that the interest costs match those of the 20-year fixed.

2020-07-19 12:57:44

It was exactly the same with us. Actually almost the same financial conditions as with you. HVB calculated an object value that was lower than the construction costs. Then they deducted a 20% buffer. Instead of €430,000, we would have only received €340,000. Conclusion....waste of time. Try it out, but at the same time have other offers prepared and see what the Hypo offers you after the detailed review

Thanks for the feedback. I will ask Interhyp if they can also obtain offers from multiple banks (including detailed review). In the end, all terms and agreements are only in the contract with the bank, and not in the summarized offers that Interhyp provides us. This way the offers are sometimes difficult to compare.

We are not that risk-taking, so 20 years of fixed interest is a must for us.

2020-07-19 14:50:45

What speaks strongly in favor of 10 years for all components? Currently, there is less than a 0.5 percentage point difference. Assuming over 10 years that the ten-year rates will not even rise above 1% again (and, for example, move again within a corridor of 1%-2% that was completely normal until recently) is a bet. You can calculate it - interest costs on €300,000 for 20 years vs. 10 years and then another 10 years with a maximum interest rate so that the interest costs correspond to those of the 20-year.

It is only about doing the calculations. But for that, you need concrete numbers. Then you can weigh whether the lower interest burden brings the repayment into a range that minimizes the remaining debt and thus the risk.

2020-08-02 21:15:52

For your information to all who currently have similar conditions: The offer 2 from [Hypovereinsbank] was approved after the detailed review. We have accepted the offer.

2020-08-04 14:36:02

We also financed with HVB. I have nothing negative to report. Except that you have to use up your equity first before you can draw money from the loan... That was a problem for us because I wanted to sell valuables (my equity) first and wait as long as possible. That's why we are now paying commitment interest.

2020-10-01 07:39:31

Experiences (from a friend) with HVB also good, could not report anything negative. Only with some invoices (own services) there was apparently a need for discussion and necessary persuasion.

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Offer review financing single-family house 160sqm

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