Real estate financing with Euribor fixed interest rate swap loans?

May I ask the forum for opinions / experiences regarding a real estate financing via a loan with an interest rate swap fixed to Euribor? The term is 15 years, fixed interest rate, just under a 7-figure loan amount. Offer from a local bank (conditions similar at both a Volksbank and a Sparkasse branch).

I have read many negative messages regarding interest rate swaps, are there things I should pay special attention to? Thank you very much.

Have you agreed on a cap or a variable loan with a surcharge to Euribor?

Surcharge to the Euribor, but for me as a borrower the interest rate should be fixed (3.11%).

Ok, if I understand you correctly, the cap (maximum interest rate per year fixed for 15 years) is at 3.11% and if Euribor + interest surcharge is below that, the interest is calculated. I haven't heard anything bad about these products, generally one should just check whether the interest is also adjusted accordingly.

Counter-question: Why Euribor financing + interest rate swap and not "normal" long-term real estate financing? What happens if the swap has a negative net present value? Do you then have to provide additional collateral? What happens to the swap if you repay the loan? Normally, the swap remains and must continue to be serviced; it can be transferred to a new loan or it must also be redeemed (net present value adjustment - depending on the interest rate level)! If it is a reputable credit institution with usual contracts, a) your interest rate is really fixed (that is exactly why you enter into the swap and also pay for the swap!) b) the bank is also bound to the contract and cannot terminate it I know such loans more from the area of commercial real estate financing. There, swaps are regularly simply transferred to new/other variable financings in completed projects. I do not directly see the advantage for private customers; there, (usually) classic loans with fixed interest rates are cheaper - unless you need the flexibility I mentioned.

I keep my fingers off things I don't understand.

Sometimes also off things I do understand, like swaps. I don't see any advantage in private financing there.