When does the withdrawal period for the loan agreement begin?

2022-05-05 10:34:43

hm, a contract of sale actually arises when the seller makes an offer, and the interested party says, I want it or I'll take it for 10% less (online trade, eBay and co.) I think it would be the same here. The signature is just the confirmation of that. This basically fits with point 4: the contract was already concluded upon agreement, but now you only have the cancellation information in your hands.

4. Die Wiederufsinformation ist dabei, sie (zitat) "beginnt nach Abschluss des Vertrages, aber erst, nachdem der Darlehensnehmer diese Wiederrufinformation erhalten hat".

2022-05-05 10:41:38

hm, a purchase contract actually comes into existence when the seller makes an offer and the interested party says, I want it or I'll take it for 10% less (online trade, eBay and the like).

But not a loan agreement (consumer loan agreement). The law requires written form as mandatory. So only after signing the contract does a loan agreement come into existence. By the way, if the customer says "10% less, then I'll buy," that is actually just a new offer to conclude a purchase contract ;) .

2022-05-05 11:16:12

The requirement is legally mandatory in writing. So a loan agreement only comes into effect after signing the contract.

Thank you!

Oh yes, when the customer says "10% less, then I'll buy," by the way, that is just a new offer to conclude a purchase contract ;) .

Yes, I know…. I wanted to keep it brief for the forum. Basically, it was about the timing component.

2022-05-05 18:56:20

Hello everyone, I could also ask a lawyer, but maybe the question is too trivial or one of you knows the answer: 1. I have received the "loan agreement" from the bank to sign 2. Already signed by them, dated 10 days ago (April 25) 3. I am taking a short period to consider and will, for example, sign and send it back on May 6 4. The cancellation information is included, it (quote) "begins after conclusion of the contract, but only after the borrower has received this cancellation information." So when does it actually start? With the date of my signature on the contract? The date I received the letter? The date of the bank's signature? Many thanks and regards GD

Probably the Dutch? ;) Usually, they write: please return the contract by XY. If it says: received by May 7, then I would sign the contract with the date of May 7 and send it already on May 6 (99% arrives the next day... if it arrives a day later, the bank probably won't make a fuss, since the postal delay periods are taken into account). Then you have 14 days from May 7 to cancel if something goes wrong. So until May 21. PS. if, for example, you are still waiting for a building permit etc., and the contract is from the "Dutch", then there is still a possibility to extend it a bit, but only if you went through a broker... if it was directly through the bank, then probably not....

2022-05-05 20:03:26

probably the Dutch? ;)

usually they write: please return the contract by XY. If it says: receipt by 07.05., then I would sign the contract with 07.05. and send it already on 06.05. (99% it will arrive the next day... if it arrives one day later, the bank won't object either, since the grace periods from the post are taken into account).

then you have 14 days from 07.05. in case something goes wrong to revoke it. So until 21.05.

PS. if, for example, you are still waiting for the building permit etc., and the contract is from the "Dutch", then there would still be a possibility to extend it a bit, but only if you arranged it through an intermediary... if it was directly through the bank, then probably not....

Also many thanks. Unfortunately not Dutch - they have raised rates massively lately... but rather a local branch bank. I will date it on the day the return is requested and deliver it personally.

Indeed - I somewhat hastily locked in the financing because I didn’t want to chase the interest rates any longer. And the building permit and the civil engineering offer are still missing - I know one is not supposed to do that but both should be there next week. In the worst case, I will pull the emergency brake - just a pity about the interest... GD

2022-05-05 20:07:04

if it’s a local branch bank (private, or Sparkasse/Genossen?)

because with the Sparkassen/Genossen a "deviation" in costs at the end probably wouldn’t be that dramatic, i.e. if it costs 10k less in the end and you expected more.

If it ends up costing 10-20k more, I would still do it (because of probably favorable interest rates) and then just pay the difference out of your own pocket.

I say: in the end, maybe taking a 10-20k private loan would be cheaper than waiting another 2-3 weeks and then paying 0.10-0.20% more interest on the big sum for 10-20 years...

so, if the interest rate is good, go for it.

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When does the withdrawal period for the loan agreement begin?

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