Annanas86
2019-06-24 18:50:07
- #1
Hello everyone,
my husband and I are about to finalize and have obtained initial offers through a bank advisor; we lack the expertise and necessary knowledge to assess whether we are on the right track.
Attached are the key data of the property:
-Property price: 600K€
-Loan amount: 400K€
-Equity: 212K€ including 12K€ for the notary
Important to us:
- We expect somewhat larger sums soon through inheritance etc. (amount and timing cannot be predicted exactly), which we can also use for repayment and thus hope to pay off the house promptly.
Offers from banks:
Option 1 - Annuity with interest rate protection building savings contract:
- 400K € annuity via Allianz, 2% repayment, interest rate 1.32%, 20 years fixed interest period, monthly rate: 1,326€
- 216K€ building savings contract via Alte Leipziger, interest rate 2.45%, 20 years fixed interest period, term 31 years, monthly rate: 220€ (special payments of any amount possible, building saver flexible, can be adjusted or suspended).
Total burden: 507,300€, total costs 107,300€
Option 2 - Full repayment annuity:
- 400K € annuity via Hannoversche, 2% repayment, interest rate 1.92%, 35 years fixed interest period and term, monthly rate: 1,306€
- 10% special repayment possible, repayment rate change possible
Total burden: 548,800€, total costs 148,800€.
At first glance, we find option 1 more attractive and have initially focused on it, so the bank advisor has renegotiated for this model and presented other banks; the listed conditions are basically the last ones we received.
With option 2, something could certainly still be done.
Questions for you too:
- Which options would you recommend from your point of view? I have now looked around online and apparently combinations with building savings contracts are not so attractive, as the payout date cannot be guaranteed.
- How do you assess the interest rates? Or is there another option that we have not considered at all?
- Are there questions that should definitely be asked to the bank advisor or points to pay special attention to?
Many thanks again for your assessment and your feedback in advance. I hope I have outlined everything important for now. As mentioned, we are quite inexperienced on this topic.
Best regards from Hamburg!
my husband and I are about to finalize and have obtained initial offers through a bank advisor; we lack the expertise and necessary knowledge to assess whether we are on the right track.
Attached are the key data of the property:
-Property price: 600K€
-Loan amount: 400K€
-Equity: 212K€ including 12K€ for the notary
Important to us:
- We expect somewhat larger sums soon through inheritance etc. (amount and timing cannot be predicted exactly), which we can also use for repayment and thus hope to pay off the house promptly.
Offers from banks:
Option 1 - Annuity with interest rate protection building savings contract:
- 400K € annuity via Allianz, 2% repayment, interest rate 1.32%, 20 years fixed interest period, monthly rate: 1,326€
- 216K€ building savings contract via Alte Leipziger, interest rate 2.45%, 20 years fixed interest period, term 31 years, monthly rate: 220€ (special payments of any amount possible, building saver flexible, can be adjusted or suspended).
Total burden: 507,300€, total costs 107,300€
Option 2 - Full repayment annuity:
- 400K € annuity via Hannoversche, 2% repayment, interest rate 1.92%, 35 years fixed interest period and term, monthly rate: 1,306€
- 10% special repayment possible, repayment rate change possible
Total burden: 548,800€, total costs 148,800€.
At first glance, we find option 1 more attractive and have initially focused on it, so the bank advisor has renegotiated for this model and presented other banks; the listed conditions are basically the last ones we received.
With option 2, something could certainly still be done.
Questions for you too:
- Which options would you recommend from your point of view? I have now looked around online and apparently combinations with building savings contracts are not so attractive, as the payout date cannot be guaranteed.
- How do you assess the interest rates? Or is there another option that we have not considered at all?
- Are there questions that should definitely be asked to the bank advisor or points to pay special attention to?
Many thanks again for your assessment and your feedback in advance. I hope I have outlined everything important for now. As mentioned, we are quite inexperienced on this topic.
Best regards from Hamburg!