What would you do at the end of the fixed interest rate period 2023?

Here is the initial situation:

House purchased for €300,000, of which €267,000 was financed

€217,000 annuity loan at the main bank, 15 years term until 30.06.2028 at 2.86%
€50,000 KFW homeownership loan at 2.55%, 10 years term until 30.06.2023

Initial repayment rate for both was only 1.9% - long story; but yes - too low.
We have made some special repayments on the regular loan (approx. €25,000), at the end the balance would be €108,000 if no further special repayments occur.
The remaining debt of the KFW loan will be around €41,000 at maturity

I would not take this out like this today. The loans mature at different times, everything is summarized in one mortgage. How can we most cleverly and presumably most cheaply manage to terminate (final payout was in 01/2014, so termination only possible at maturity 07/2024) after the expiry of the 10 years, for example, and refinance? Negotiating only with the main bank will probably not bring the best interest rate. Extending the KFW loan by another 5 years does merge the interest periods, but at the same time takes away or complicates the right to special termination.

Is the only reasonable way to repay the €41,000 completely? We could manage that, but then we could no longer make special repayments on the "big" contract in the next 4-5 years. Or am I overlooking something?

Would a building savings contract be useful at any point here? For forward loans it is still a bit far off, and the KFW loan somehow stands in the way here as well.

You can combine both loans. KfW at the end of its term and your regular loan then afterwards in 07/24. At the appropriate time, find a bank and apply for financing of T€ 41+remaining debt in 07/24. Then one part will be paid out earlier than the other.

Hey,

so KfW can be refinanced as of 30.06.2023.
The main loan is only possible as of 30.07.2024, so already 2 different payment dates. Combining during the forward will not be possible.

So if you spend the money for KfW instead of the "big one," it will cost you about 600 EUR due to the interest rate difference (2.86% to 2.55%, approx. 41 TEUR over 5 years).
The disadvantage here is the 2 different payment dates.

Personally, I would rather pay off KfW completely and then have only 1 refinancing date on 30.07.2024. That’s in 5 years.

Summarizing with a forward will not be possible.

In my opinion, no forward is needed given the interest rate outlook.

When it comes to interest rate outlooks, in my opinion a forward rate is not necessary.

yes, it could well happen that in 5 years we have the same interest rates as today, or 1% lower, or 1% higher, or 2%... who knows
but interest rates over 5% or 8-12% like they used to be will probably not occur in the next decades...

I would calmly make special repayments on the KfW loan and repay it in one go in 2023. In 2023, you can consider how to deal with the large loan. In your situation and given the interest rate environment, I wouldn’t currently worry about refinancing. It’s a waste of time, as a forward contract is still too far away.