Supplementary funding - WohnRiester

Hello dear ones,
unfortunately it affects us too :-( we have been considering whether it is possible, instead of doing a supplementary financing, to have the [WohnRiester-Vertrag] paid out.
Does anyone know if that is possible afterwards or does it have to be done with the financing?
Thanks & best regards
Susi

My information was that it can be done pretty much anytime. We only have 15k in it and will either use it as additional financing, for the outdoor facilities, or as a special repayment. You just have to prove the house construction usage, but that is the case with you. The only question is whether additional financing might be cheaper. My building savings contract offers 1.1 percent and the loan is cheaper...

And also consider the long payout times. It took us about 6 months, even though it was said beforehand that the money could be available at any time. However, in our case, it was not a follow-up financing.

You may use the Wohnriester instead of a loan or to repay a loan for an owner-occupied house or condominium. Go to the website of the DRV and look for the advisor number for Riester there, call and get information. They do that well. K.

And also consider the long payout times. It took us a good 6 months, although it was said beforehand that you could have the money at any time. However, in our case, it was not a refinancing.

For us, it was much faster. But it definitely takes a few weeks. You first need the confirmation from the DRV to then forward it to your insurance. That takes a few weeks. My insurance then paid out on the first day of the next month. But there are also insurances that pay out a half year later, as winniefred wrote.

The question is only whether a refinancing is not cheaper. My building society saver offers 1.1 percent and the loan is cheaper...

With refinancing, however, you usually do not get the same conditions as with the original loan. It is usually significantly worse (no idea in what magnitude. Nobody likes to talk about it).

Yeah, it's okay, but always remember when you pay out to liquidate = tax benefits will be reclaimed. You get less out than you put in (costs are not reimbursed), or loan, that takes even longer.

Best is consumer credit

What amount are we talking about and what went wrong?