Property financing - fixed interest rate?

Hello,

I intend to build in about 2-3 years.

However, I would like to buy a plot of land in the next few days. For this, I still need to borrow about 23,000 euros.

Unfortunately, special repayments are only possible up to 10% per year. However, I do not want to set the repayment rate too high, as you never know what will come.

My problem is that I do not want to commit to a bank already now.

I read on the internet that the current loan is registered as first lien in the land register and that I would therefore basically have to do the house financing with this bank.

And this is exactly what I do not want.

Are there other possibilities where I am not so bound?!

Possibly a written agreement that the bank is only in second place and first place remains free ...?

Or are there possibilities to repay the loan earlier in full if you pay a "small penalty" ...?

A variable interest rate of course comes at the cost of a significantly worse interest rate.

I hope you understand my problem and can help me?

Thank you very much.

Regards Matthias

With building savings contracts, it sometimes happens that there are generous special repayment arrangements. But 2-3 years is a bit tight. Otherwise, it usually means paying the entire interest loss. You can better invest the money for the special repayment well and thereby reduce the interest burden.