mortgage is often a long-distance race with a Sprint to compare. Often, the interest rates for borrowers are not written, however, for the entire period of funding, but only for ten or 15 years. For the remainder of the follow-up financing is debt, then, at the end of the fixed interest due.
Currently, interest rates are low and the possibilities of a favorable follow-up financing to complete numerous. But borrowers whose interest rate bond is still running for a few years, can benefit from the low interest rates. “Builders, who have funded ten years ago for around four to five percent, can now look forward,” says Schwäbisch Hall building Finance expert Ralf Oberländer. “You come away with the financing of your remaining debt meanwhile, significantly cheaper.”
special right of termination after ten years: this will make you faster out of debt
In the process, you also benefit from a special right of termination after ten years, thanks to the any loans can get off-taker of his contract – even if the interest rate is fixed for 15, 20 or more years was agreed. For the following follow-up financing there are three possibilities, depending on when the interest rate lock-in period expires.
1. A maximum of six months to the expiration of the interest lock-in: the connection loans
The simplest case. Port Finance house, can secure the instant loans low interest rates for the remainder of the financing and the remaining balance of the old loan abösen.
2. Seven to 60 months until expiration of the interest lock-in: Forward loan
With a Forward loan you can secure the low interest rates of today, up to five years before the expiration of the interest lock-in of your old loan. At the end of the specified lead time the loan is paid, the terms and conditions are fixed for the entire term.
follow-up financing today is worth in the future – regardless of when the interest rate lock expires in
However, a former Einsieg in the loan’s worth it. “For every month until the disbursement of the loan, an interest rate mark-up is due,” explains the expert Oberländer. “This is currently at around 0.02 percentage points per month.” Energy contracts: 80% of all Germans are still paying too much! (Display)
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3. The expiration of the interest lock-in in a few years: building loan contract
you Have, in the course of the mortgage financial scope, it may be worth a Bausparvrtrag in the amount of the remaining debt as a savings account. Paid up until the end of the interest lock-in 25 percent of the Savings, and can replace the bauspar loans and the choice of allocation of the old credit.
The expert has a tip for the follow-up financing: The use of state subsidies. “With the housing bonus, employee savings allowance and living-Riester borrowers are free faster debt.”
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