Replacement of installment loans by subordinated loan

I think with ING it's a modernization loan, so purpose-bound? Or do you mean something else?

According to the website: "As a property owner, you can conveniently and affordably realize your housing wishes with the home loan. The disbursed loan amount can be used by you completely freely for all expansion, renovation, modernization, or furnishing measures on your property."

Due to the refinancing, the mortgage loan also becomes more expensive, which means more interest is paid on the "non-consumption portion" here as well. I would find the point interesting up to which interest rate increase in the mortgage loan the whole thing still pays off at all, or whether the 7% are not "cheaper" anyway. In any case, first pay off as much as possible and get the 70k down as far as possible to make it easier to repay.

Home Loan Ing (Ing-Diba no longer exists)
Monthly installment 857.40 EUR
84 months (max)
65,000 (max) free use
Total amount 72,020.79 EUR
Effective annual interest rate 2.99%
Fixed nominal interest rate p.a. 2.95%
Accordingly, due to the max 84 months term, high installment.

Consors Finanz (formerly Bank von Essen)
Maximum term 180 months
65,000 Euros (max) free use
Fixed nominal interest rate from 6.1% (5 years interest rate fixed)
Fixed nominal interest rate from 6.41% (10 years interest rate fixed)
Repayment minimum 3%, dependent on customer age
Installment from 492 Euros
Due to the low repayment low installment, but poor interest rate.

Smarter - and that is primarily what this post is about - for immediate capital requirements (especially for smaller amounts) a forward loan is suitable (the maturity of the existing property financing must be within max. 60 months), where the forward-lending bank pays out the immediate requirement immediately and, due to the forward loan, goes into subordination with this amount until the forward loan is paid out.

The condition regarding the amount is calculated on the one hand without prior charges and on the other hand on the immediate requirement and the forward loan, which prevents amount and priority surcharges and possibly generates and maps discounts or special conditions (which are mostly granted only from 100,000 or 150,000 Euros) . That means the small current requirement is part of the total amount to which the conditions refer and can generate and map.

A revaluation of the property in the course of the forward loan can, in the case described here, lead to the residual debt at the forward payout and the now required loan being within the required lending limit and thus a good condition can be mapped on both loan components (one without, one with forward surcharge).

Both the DSL Bank and the DKB come here as excellent providers with top condition offers and generous collateral value assessments (DSL Bank) in the selection.

[QUOTE="Noelmaxim, post: 319896, member: 32505"]Home Loan Ing (Ing-Diba no longer exists) Monthly installment 857.40 EUR 84 months (max) 65,000 (max) free use Total amount 72,020.79 EUR Effective annual interest rate 2.99 % Fixed nominal interest rate p.a. 2.95 % Accordingly, high installment due to max 84 months term.

Consors Finance (formerly Bank von Essen) Maximum term 180 months 65,000 Euros (max) free use Fixed nominal interest rate from 6.1% (5 years fixed interest) Fixed nominal interest rate from 6.41 % (10 years fixed interest) Repayment minimum 3%, depending on customer’s age Installment from 492 Euro Due to low repayment low installment, but poor interest rate.

Smarter – and this is what this post is primarily about – for immediate capital needs (especially for smaller amounts) a forward loan (the expiration of the existing mortgage financing must be within max. 60 months) where the forwarding bank pays out the immediate need immediately and, due to the forward loan, goes into subordination with this amount until the forward loan is disbursed.

The condition is calculated with regard to the amount on the one hand without prior encumbrance and on the other hand on the immediate need and the forward, which prevents amount and priority surcharges and can possibly generate and reflect discounts or special conditions (which are mostly only granted from 100,000 or 150,000 Euros). That means the small current need is part of the total amount to which the conditioning relates and can generate and reflect.

A revaluation of the property in the course of the forward loan can in the case described here lead to the remaining debt at forward disbursement and the loan currently needed being within the required loan-to-value ratio and thus a good condition can be mapped to both loan components (one without, one with forward surcharge).

Both DSL Bank and DKB come into consideration here as excellent providers with top condition offers and generous loan value determinations (DSL Bank).[ /QUOTE]

The original poster is at the limit regarding his creditworthiness. No bank will go near that.

the OP is at the limit regarding his creditworthiness. no bank will touch that

Yes, I see it similarly, on the other hand, I know too little individual information to be able to judge that reliably.