Repaying a bank loan with a home savings contract

Hello everyone,

I have a question about a planned financing:

We want to finance our single-family house with a bank loan of €150,000 (+ an additional €50,000 KFW).

The idea for the bank loan would be as follows:

€150,000 at an assumed 2.7% interest rate. 10 years interest rate fixed. 3% repayment.
After 10 years, we would thus have a remaining debt of about €87,000.

At the same time, I have a building savings contract that I would like to split into a share of 15,000 / 85,000.
This would have the advantage that I could immediately access the money already paid in.
The interest rate on this building savings contract would be 2.34%.

Now I would like to save into the building savings contract in parallel with the loan so that it would be ready for allocation in 10 years.
With the building savings contract, I would then repay the bank loan and then pay off the remaining debt from the building savings contract.

Would something like this be conceivable from your point of view?

A big advantage would be that I could use the low interest rates with 10 years fixed interest and also use the building savings contract.

Currently, financing with the building savings contract does not make sense because the repayment there is so high that I could no longer pay the bank loan.

It would be great if you could give me your opinion on this!

Many thanks!!

I don’t know if I understood it correctly ... a building savings contract with a 100,000 € savings amount has an interest rate of 2.34% on the balance and this is supposed to be split?

What is the interest rate for the building savings loan and the term as well as the installment with which it will be repaid?

With what monthly amount is this supposed to be saved then?

Hello,

old building savings contracts have a very good savings interest rate & special interest rate if you do not use the loan. I would consider including this in the financing.

If I were you, I would have a 15-year rate offered and make as many special repayments as possible.

Have you also had your financing offered by intermediaries? Interhyp, Dr. Klein, etc?

Hello,

we pay an interest rate of 2.34% if we take out the loan. The idea would be to save €350 per month so that in 10 years it will amount to approximately €43,000, making it ready for allocation (when divided over the €85,000).

Yes, we have already spoken with Interhyp and another broker as well as our house bank.

The decision on which one we will choose has not been made yet. The better one will win.

What do you think? Is this possible with the [Bausparer]?

But why don't you choose 15 years and increase your repayment?

350 € / month over 10 years amounts to 42k + compound interest effect

Then, after 10 years alone, instead of 87k, only 45k would remain as outstanding debt