Ongoing home savings contract regarding special repayment and allocation maturity

Hello everyone,

I need advice from those who are well-versed in a Bausparer.

Here is the story with (hopefully) all the details.

In 2015, I took out a loan to buy an existing property.
It is composed as follows:
200,000,- Bausparer LBS Tarif LBS-U4+
100,000,- annuity loan
50,000,- KFW

I am specifically interested in the Bausparer now.
The conditions are: interest during the saving phase: 1.66%, interest during the repayment phase 2.35%
About 85,000,- need to be saved for it to become allocation-ready.
Monthly saving: 600,- (+276,- interest)

Two years ago, I was at the bank and asked what it would bring if I made a special repayment of 5,000,- or 10,000,-.
The bank advisor printed out two sheets and stated that with a payment of 10,000,- the Bausparer would be allocation-ready 14 months earlier. So in January 2026 instead of March 2027.
I did that in 2017 as I had the money then.

Now, it is possible that we will soon sell another property and then there would be money that I could put into the Bausparer. (KFW does not allow special repayments, annuity loans have already used the maximum possible special repayments)
So I made an appointment at the bank and wanted to know how quickly I can get the Bausparer to allocation readiness.
My bank advisor has changed since then, as the previous advisor is now branch manager.
The new advisor told me that I can still pay a maximum of 23,209,- as a special repayment during the saving phase and the earliest achievable allocation would be 05.2027.
The exact section in the printout I received reads:
"Top-up to the minimum savings: 23,209,-
With immediate top-up to minimum savings, a construction time of 209 is achieved as of the key date 05.2027.
Please note that according to ABB, the LBS is not obliged to accept this special payment."

Unfortunately, I did not have the papers from 2017 at the appointment and went home with this info. (Of course, not very happy)
At home, I looked at the old papers and discovered the above-mentioned numbers and thought something cannot be right.
I know allocation readiness is a somewhat complicated construct from the combination of time and money already in the Bausparer. But I really think that what my new advisor told me is not correct. I also still have in mind that special repayments can be made in any amount.

Of course, I will call the bank again on Monday and ask for clarification. But I thought maybe someone here could already give me some tools for the conversation who knows about the topic.
What is your knowledge about this issue?

Many thanks in advance!
If there are any questions, I can gladly provide more information.

Regards
Specki

The building savings contract is surely only there to secure a bullet loan? If yes, what are the terms and durations?

The conditions of the bs loan are rather poor given the current interest rate situation, however the interest on the credit balance is good.

Yes, that's right.
Conditions:
Interest rate during the repayment phase 2.35% (as already mentioned above), prepayment at any time in any amount possible.
Do you need any other information to make an assessment?

Yes, the conditions of the [Bausparer] and the [Endfälligen Darlehen] are currently very poor. That's why I'm considering whether I can do something about it. It would also be worthwhile to take out a loan to pay it all off.
The contract was just signed years ago when interest rates were slightly higher again.

The credit balance interest rate is 0.1%.
That's ok, but it's only a drop in the bucket when I'm paying 1.66% interest.

Best regards
Specki

Yes, that's how it is.
Interest during the repayment phase 2.35% (as already written above), with special repayments of any amount possible at any time.

These are the crucial pieces of information.
Above, you only write about the building savings contract, but not about a bullet loan that allows special repayments at any time.
You also repeat that it specifically concerns the building savings contract.

I have to admit that I haven't looked at the PDF, but please clarify again exactly what concerns your bullet loan and what concerns the building savings contract, as this is somehow mixed up too much for me.

The credit balance interest rate is 0.1%.
That’s okay, but also only a drop in the bucket when I pay 1.66% interest.

You had written above that the building savings contract has an interest rate of 1.66% during the saving phase.
Therefore, I naturally assumed credit balance interest. 0.1% is of course not good, but super bad.

It would also be worthwhile to take out a loan to pay everything off.
The contract was concluded years ago when interest rates were just a bit higher again.

Just go to an advisor and have it calculated for you or get an offer made.

If I have understood your information correctly now, it makes no sense at all to use the building savings contract currently. This actually makes the interest rate significantly worse rather than better, doesn’t it?!

Hm, I thought I had explained everything clearly.

So once again.

The home savings contract currently runs over a savings amount of 200,000,-
Interest of 1.66% is payable on this, so 3,320,- per year. Until it becomes ready for allocation.
As soon as it is ready for allocation, it will be replaced by a bullet loan on which interest of 2.23% will be due.
That’s not what I’m concerned about. On the one hand, I know 100% that I can make special repayments at any time in any amount, on the other hand, everything is clear there.

What I’m concerned about is bringing the home savings contract to allocation readiness earlier. Because then I can completely replace the bullet loan with a new loan with better conditions.
And I just wanted to ask for opinions here, because what the bank advisor told me on Friday apparently doesn’t seem to be correct.

And yes, I will go to my advisor again. As I said, he gave me strange calculations that contradict the statements of the previous advisor and also seem illogical to me somewhere.

And maybe someone here knows a lot about home savings contracts and can tell me how it actually works properly

Regards
Specki

And what if you get independent advice and take the loan agreement with you? I would do that.