Your assessment of the financing component

  • Erstellt am 2019-01-13 00:54:21

MadameP

2019-01-13 11:06:20
  • #1
I just looked through the email exchange again because it wouldn't let me rest. Quote mediation: “Due to the 100% special repayment right, you are virtually completely free, meaning as soon as you have money, you can repay partial amounts or pay off completely. The bank cannot charge you any damage in this regard. It is an absolute special condition, hence this high degree of flexibility.” It almost sounds too good...
 

Nordlys

2019-01-13 12:45:20
  • #2
Very fair offer. Who is your provider? These are building society game rules, Karsten
 

face26

2019-01-13 12:55:53
  • #3
It's a total mystery to me how the bank refinances that. If there are no other catches... sign that thing quickly!
 

HilfeHilfe

2019-01-13 13:03:12
  • #4

I would be happy for you, but a broker is not the same as the financing bank, so check that passage in the loan agreement. A bank is interested in steady cash flows with some exceptions for special repayments... I can’t imagine the clause is designed without minimum amounts or number of repayments. Otherwise, you could arbitrarily transfer every euro whenever you want.
 

ghost

2019-01-13 14:01:37
  • #5
Great offer. If this is not a combo offer or has no other pitfalls: Do it!

Regarding 15Y: I clicked around on the Haus&Wohnen website. With your values, the site also has an interest rate calculator, which shows 1.47%. Assuming your other conditions from above also apply there.

After 19 years and 8 months, you are done. Remaining debt after 15Y: 138K

With a 2% interest increase, the rate would be €2731 With a 4% interest increase, the rate would be €2963

If you get a similar offer for the 15Y, I would clearly choose the 20Y. 20Y definitely with 20k remaining debt, 100% flexible, and you pay only 5 months longer
 

MadameP

2019-01-16 11:37:21
  • #6
A little update: I had the meeting at Haus & Wohnen last night, and the flexible offer with 1.72% for 20 years still stands. The only condition: the special repayments must come from equity, and we are not allowed to "just refinance" within the first 10 years – which I find acceptable for now, as I do not expect interest rates to drop significantly again... If, for example, one of us were to suddenly pass away, we would be allowed to repay immediately with the payout from the risk life insurance. Or we inherit, or sell, or whatever. I find the condition fair. After 10 years, we could still exit if desired.
So we are now having the loan contract prepared. Two appointments are still pending, one at the house bank and one at Dr. Klein; I’m curious if anyone will go along.
I’ll let you know again how it turned out in the end.
 

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