Ongoing home savings contract regarding special repayment and allocation maturity

I just need to know exactly what’s possible first
I don’t actually want to leave the Sparkasse. Just don’t want to pay too much either.
And I think the new advisor just isn’t that familiar with it.
I’ll ask for a meeting again tomorrow (if I can fit it in between my other appointments) and possibly also talk to my old advisor, who is now the branch manager.
I was just curious if someone here could tell me, before the meeting, exactly how it works.
It could be that someone knows a lot about [Bausparern]

Regards
Specki

Hm, I thought I had made everything clear.

So, once again.

The building savings contract currently runs on a savings amount of 200,000,-
For this, interest of 1.66% is due, which must be paid. So 3320,- per year. Until it becomes eligible for allocation.
As soon as it becomes eligible for allocation, it will be replaced by a bullet loan on which interest of 2.23% will be charged.
That's not what I'm concerned about. On the one hand, I know 100% that I can make special repayments of any amount at any time, on the other hand, everything is clear there.

Sorry, but I am becoming more and more sure that you have not fully understood your financing concept.
Or at least the concept of a building savings contract?

At least this is the first time I hear of a building savings contract where interest is due during the savings phase!
You get 0.1% credit interest for the building savings contract.

That is why I initially suspected that you also have a bullet loan.
You also confirmed that. In my opinion, these two contracts, i.e., the loan on one side and the building savings contract on the other side, should be separated.
If you can really make special repayments on the bullet loan at any time without incurring costs, I would probably have a normal annuity loan calculated and use it to repay the current loan.
The building savings contract for security then becomes unnecessary, which it probably was from the start anyway.

On the mobile phone I don't see any PDF at all...

In general, you can hardly expect any answers here regarding your specific loan or [Bausparvertrag]. All [Bausparverträge] are very special and can only be answered with knowledge of the exact contract as well as access to the [LBS Interna].

Basically, it can be said that the allocation of a [Bausparvertrag] can only be brought forward to a very limited extent. This is due to the systematics of the [Bausparsystem]. We are talking about months or maybe half a year (for example through special payments), more is rather not possible or only very rarely.

You must necessarily talk to your pushy person from the [Bausparkolonne].

Oh man... Either I’m using the wrong terms so you don’t understand, or you don’t know what I’m talking about... I also don’t know if it’s any use if I write it here again now. In any case, it’s as I said, and to my knowledge, it’s also a common concept. Somehow we’re probably talking past each other. With the building society savings contract, there’s a savings phase in which I always pay 1.66% interest on the full amount of 200,000,- and when it becomes eligible for allocation, the repayment phase begins in which I then pay 2.23% on the remaining amount to be repaid. But if you’re not familiar with the concept and all that, you really can’t help me. Because I think only someone who knows about building society contracts in general, maybe even specifically about the tariff LBS-U4+ I mentioned at the beginning, can do that.

Yes, I have that again tomorrow anyway I just thought maybe someone here generally knows something about how it is with building society contracts, whether I really can’t make special repayments in any amount and how far it’s possible to bring the allocation date forward.

Regards Specki

Sorry but this is the typical example I always warn about. People enter into contracts they don’t understand or the bank can always refer to the fine print. Always only enter into what you understand. Then there will be no stress. Briefly about the Bausparer. If you redeem it with a new loan, there will also be problems with the ranking in the land register.

You didn’t need to warn me. I know that a home savings contract isn’t the best option when it comes to real estate financing. But unfortunately, the Sparkasse was the only bank willing to finance my project back then, and they only did it with the LBS. The interest rate was actually quite good at the time. And yes, I don’t understand the home savings contract in every detail, I’m not an expert on the subject. You can’t be an expert in everything, sometimes you have to rely on advisors up to a certain extent. Yes, the advisor also mentioned something about the ranking in the land register. I have to get into how to solve that now. But I see it as unproblematic for now. I think it can be solved. Regards Specki