Z15 loan and follow-up financing - is a building savings contract the best?

Hello dear house-building community,

we bought a house with the help of the L-Bank and are now busy calculating the follow-up financing. Our original idea was to take out a building savings contract. But you keep reading that they are too expensive,... so now we are wondering if there might possibly be a better (unknown to us) way?!?

I will simply list the key data and our first obtained offers here (please just let me know if I forget something important) and then a few questions about it:

Z15 loan: €223,000
Remaining debt after 15 years: approx. €150,000
(yes, that is bitter, but we are not allowed to repay more with the L-Bank - no special repayments!. Hence also the idea to already save something alongside)

possible monthly savings amount (today until 2030): €300 (incl. lead time) (will certainly be more at some point when both are working again, but that should not be included for now)
possible monthly repayment rate (from 2030): €750 (of course plus the installment for the remaining debt of the L-Bank loan of €50,000)

The building savings calculators usually spit out a BS amount of about €100,000 under these conditions (with debit interest between 1.5 and 2.5% and credit interest between 0.1 and 0.5).

Now my questions:
1. Is a building saver for 14 years (we would prefer to save only 14 years to make the allocation maturity more certain) now the right/best/most suitable way for us as follow-up financing?
If not: what would be better alternatives?
If yes:
2. Should the BS amount really be chosen that high? Or should we better keep it small and later rely on an annuity loan (with uncertain interest rates)?
3. Does it make sense to take out several small building savings contracts? If yes, should these mature at different times? Possibly also from different providers?
4. Is it worthwhile to get the opinion of an independent building savings advisor (e.g. with 9 BSK and 300 tariffs)? Or can one politely decline and gather and compare the offers themselves?
5. If advisors: do you have recommendations?

So now a big THANK YOU for your time and effort!
We look forward to your experiences and tips!
Best regards,
Katharina

Hello,

have you ever considered a Wohnriester?

There will surely be a few others posting here who know more about it.

I wouldn’t worry about that at all. If you really consistently set aside the 300 € and then later use it for a partial repayment of the remaining debt, the remaining amount (approx. 100,000) with a payment of 750 € will not be a problem.

In my opinion, a [Bausparvertrag] would only tie you up unnecessarily.

Thank you very much for your answers! I am not very familiar with Wohnriester yet. I still have to read up on it... @Backbone: do you really think that interest rates have not risen so significantly in 14-15 years that a building savings contract would be worthwhile?! They certainly are not likely to fall... And above all: where can you still invest with high returns today? At least, if you are as security-conscious as I am

... do you really think that interest rates haven't increased significantly in 14-15 years so that a building savings contract would be worthwhile?!

I did not claim that. And in 14-15 years, interest rates might already be falling again.

And above all: where can you still invest profitably today?

You are talking about today. But if in 14-15 years the interest rates have risen again, this also applies to investment products.

You have planning security with a building savings contract, but that doesn't have to be the cheapest option. The question is also what happens with the portion of the remaining debt that is not covered by a possible building savings contract. With a high building savings sum as you plan, you also have a high monthly interest and repayment amount. What will then remain for the rest?

How old are you, or by when should the house be paid off at the latest?

And never forget how high the commissions are for a building savings contract. The seller is always inclined to recommend the product if it, for example, brings him 2000 euros into his own pocket.