Special repayment in the loan contract - experiences with financing

You can fully terminate the annuity loan after 10 years with special notice and re-contract minus a repayment. But simply repaying a part is not possible. Your advisor is quite funny (shady) if he calls the special termination a "pre-notification" :D

The advisor is unfortunately right and you are not ;-) In the 489 contract, a partial termination is explicitly provided for. So you can make "special repayments" at any time with the appropriate notice period. The bank will be pissed, but can't do anything about it.

You can partially repay something,

No, with the KfW that is not possible at all.

No, that's not possible at all with the KfW.

Actually, I just saw that now too... Thanks!

Unfortunately, the advisor is right and you are not ;-)
The 489 contract explicitly provides for a partial termination. So you can make "special repayments" at any time with the appropriate notice. The bank will be pissed off, but can't do anything about it.

That means I basically terminate the EUR amount I want to pay as a special repayment? And can do this as often as I want at any time?

In section 489, a partial termination is explicitly provided for. So you can make "special repayments" at any time with the appropriate notice period. The bank will be pissed off but can't do anything.

Interesting, thanks :)

So, I would basically terminate the EUR amount that I want to pay as a special repayment? And can do this as often as I want at any time?

That would be something, a partial termination every month.

(3) A termination by the borrower is considered not to have occurred if he does not repay the owed amount within two weeks after the termination becomes effective.

So that means I could terminate early, and if I change my mind just not transfer anything and the contract continues???

That means I basically cancel the EUR amount I want to pay as a special repayment? And can I repeat this any number of times at any time?

Yep. But I actually haven’t seen anyone do that regularly yet.

That would be something, a partial termination every month.

Ideally 0.01 EUR every month :)

Yep. But I actually haven't seen anyone do that regularly yet.

So I could ultimately secure a slightly better interest rate (around 0.03) now and then make use of this method after 6 months?