Struggling companies, short-time work, less wage and salary: Since the Corona-induced Lockdown, many people are faced with the question of whether you can afford the dream of your own four walls at all. It is clear that, Currently, the amount of the construction loan interest rates is not all that counts.
“Currently, decisions are often psychologically”, says Christian Huttenloher from the ifs Institute for residential property in Berlin, which is driven by a number of construction and real estate associations. In view of the confusing, unpredictable situation, careful not to be wrong “on sight”.
Huttenloher therefore, at the moment, a few tenths higher or lower default base interest hardly the decisive criterion, in the case of house or apartment access. For the experts, a stable job with a secure income, for example, in the public service or in the IT industry.
banks consider new Loans carefully
banks are currently operating in loans, partially restrained and tighten according to the observations of Bundesbank, the public procurement directives. Recipients of short-time working allowance have come therefore, for example, harder to get money. “Basically, the test case is depending on the” observed financing Advisor Christoph Santel from Bielefeld. So you Finance your home, Our PDF guide shows you how to find cheap loans, pitfalls to bypass and get money from the state.To the PDF guide
During the Institute, the financing of negative trail, see the next long-term income development. A third call to a second borrower with a regular salary, as well as in spite of short-time work money positive budget.
The Hamburger Sparkasse, the new real estate lending was to consumers, even temporarily. “This was due to the uncertainty in the professional development of workers,” believes Alexander Krolzig by the consumer centre of Hamburg.
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A second reason could be problems in real estate valuation. This is a kind of test whether an object is value for money and, therefore, as a security for the desired loan is no good. The usual tour of the property fell or but falls flat in many places, because of the contact and output restrictions.
do Not speculate on bargains
selling willing-to-be owners have to fear, in the opinion of the Institute of German economy (IW) in Cologne, in spite of Corona, no big losses. From the point of view of buyers, this would be due to the high price levels a bad message to bargain would speculate you a little.
a view on interest rates and repayment is worth it then. The interest rates are quite very low, some financers require for home loans less than one percent. (Display)
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An adjusting screw for the borrower is the term of the loan. “The longer the maturity, the higher the interest rate,” explains Krolzig. Who wants to secure the favourable interest rates than 20 or even 30 years, pays a premium.
High repayment can be.
worth it in long run times of consumer advocates interprets as a sign of “extreme security and insecurity” on the part of prospective builders He advises against. First, because the money will be invested for the extra charge better in the repayment.
Secondly, because due to the low interest rates as much as possible repaid should be: “at Least two, better three per cent, because, for a percentage repayment, we now have more than 60 years”. This is unrealistic.
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Anyway, there are a few providers of such long-running contracts. “Most of the banks prefer 10 to 15 years, insurers also go on 30 to 40 years.” Krolzig recommends a contract over 15 years to complete. Who wants to finish sooner, you can cancel the loan after the expiration of 10 years.
High purchase prices a Problem
Krolzig often tends to the eradication of at least three percent, to press the remainder of the debt at the expiry of the financing, as low as possible. Otherwise, consumers could face payment difficulties.
He illustrates this with the example of a only two percent repayment over 15 to 20 years: “I have a residual debt of 80 percent. If the credit for the follow-up financing increases by one percent, I would Rate exploding.“
Problem is the high purchase prices, however, are. Because you mostly complicate to manage a high repayment, even beyond the Corona of uncertainty.
minimum Monthly rate define
to have air, should builders and buyers to set a minimum monthly rate. This remains the same over the entire loan period constant. The prospective property owner knows what he has to pay in the good times and the bad times and to adjust to it. ifs man, Christian Huttenloher also pleads the case for installment loans. With the FOCUS Online loans comparison (display) Now follow-on funding
calculate In addition, there are other solutions to respond to crisis situations flexibly. These repayment suspensions and repayment rate change. In one, the monthly Rate shall be suspended, and the interest paid but more. The other Option, the repayment can be set depending on your needs, up or down. “This is a good Instrument. I just have to harness it,“ warns Krolzig. And it must be agreed upon in the loan contract.
see also: follow-up financing plan: How to secure low interest rates for the future
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