Replacement of installment loans by subordinated loan

Ok, I never had that on my radar either. Although I just completed 20 at 1.6%.

How do people here come up with 7%? This is about a loan secured by property and we’re not living in the 90s. Always these bogeymen here ...

guckuck2, the Hanseatic subordinated loan is currently at around 5.xx% for 60 months. However, he can't afford 60 months at 70,000€ at all.

I'm happy to be surprised by what terms he gets here. Things like 50,000€ over the overdraft are quite nice, but also depend on creditworthiness.

EDIT: I just see it stops at 60,000

Your benefits at a glance

[*]Convenient, low monthly installments
[*]Loan amounts from 5,000 to 60,000 €
[*]Flexible use: modernization, vacation or new purchases
[*]Terms up to 180 months
[*]Refinancing of existing expensive installment loans

Subordinated loan is not the method of choice here at all. He already has a construction loan running, €260K credit on a €300K value, something can be done there. Off to the financing bank. Or to the advisor, to see what else is possible, e.g. a short-term building savings contract or or or. But definitely not 5.xx% as a subordinated loan, he might as well take out an installment loan for free use.

According to another thread of his, he has only just taken out the loan and I believe the 300k€ is also just an estimate from him.

Exactly, the point is to consolidate my existing installment loans + new needs into one loan. Since most installment loans stop at 50TE, they are not an option. The Maxda consultant was here last week. Offer from Consorsfinanz subordinated mortgage loan at 7%. Consors apparently exceeds the 100% loan-to-value ratio. Unfortunately, I have not received any documents. In the first step, I am supposed to submit all documents so they can appraise the house and we can see up to what amount they would go. The fixed interest period was, I believe, 5 years.

I would only consider this if Consors finances my entire requirement. Otherwise, I would let everything continue as it is. Consors would supposedly pay off everything from me, loans, etc., so that after the fixed interest period, my Schufa is clear and I can pay off the remaining amount still outstanding after 5 years without any problems through a new installment loan at better conditions.