The property that you go to the notary with him immediately if you are really interested in buying. The immediate financing with integrated home savings contract can pay off quickly. more – follow-up financing. Immeasurably, he immediately closes money at the breakfast table today ?! Credit card raiffeisen apply immediately for square kilometer little forage each other’s history, scope grouped. The online credit check gives you an interest rate that is immediately valid and can be completed immediately.
Why you need a housing account
You come into contact with a housing account if you want to pay for a property in Austria with a real estate loan. Why do I need a housing account? The basic purpose of a housing account is to overcome various bottlenecks in a real estate loan, especially in new buildings or renovations. Thus, 30% construction work means that a maximum of 30% of the market value of the property is paid out.
The housing account paid out before the loan is helpful here. After reaching the next stage of construction, eg 40%, the house bank pays the now 10% free of charge in addition to the housing account and accepts it. They will most likely still live and pay for the current property until completion of the construction.
The apartment account saves you this. At maturity, the housing account itself is due. Therefore, only the default interest on the outstanding assets is calculated on a monthly basis. The housing account is therefore primarily a transitional financing, but not only directly with a real estate loan, but also as a pre-financing for a home loan or renovation loan.
What a housing account in no case is suitable, is the mere promotion by it. The home balance impresses above all by its adaptability. Those who do not know the exact mission statement and the creditworthiness, can only claim that a housing account in terms of interest rates is slightly above the long-term financing. For the correct estimate of the required amount for the housing account, we recommend a free, non-binding conversation with a financial professional.
Based on the overall concept, he can calculate precisely what contribution to the pre-financing is needed and thus helps to save money.
Follow-up financing for a real estate loan
If you are planning to buy a house or apartment in Germany, then you should know what the follow-up financing is all about. It does not matter if you are a real estate owner, a house bank, or an insurance company, or if you work with a housing association. In the case of a real estate loan, fixed repayment installments are usually agreed with the house bank or the insurance company.
Part of the money is used to pay interest and the remainder to repay the loan. The interest rate has stayed the same for a fixed period, the so-called fixed interest period, although the composition of interest rates changes over time. That is, the interest expense decreases and the repayment increases.
Just a few years ago, the banks agreed to a first repayment of 1 percent. If a fixed-income period of 10 years was fixed with the house bank, it was necessary to regulate follow-up financing in triplicate without changing the level of interest rates. The property owner then only has to think through the follow-up financing.
What should be considered when financing a follow-up project? The characteristics of the annuity loan will quickly show that the first follow-up financing is the safest. The reason for this is a relatively high level of residual debt, which will have a very significant impact on the next financing phase due to an improved financial concept or a more advantageous interest rate. That’s 2 percent interest and 2 percent repayment.
If the previous interest rate and the previous interest rate were maintained, the repayment rate would rise to 3.1%. As a rule, however, the interest rate changes. If you then find a house bank with a rate of 2.3%, you can save about 2000 USD in the future.
What happens at the end of the commemoration period? Those who overlook the end of the first financing phase can in practice rely on their house bank. Approximately 3 months before the end of the current fixed interest period, the house bank contacts the borrower and presents your offers for the upcoming financing.
Of course, as a borrower, you should not be careful to have the best possible financial deal right away. However, you should not be deterred as a borrower and make a real estate comparison of real estate loans from various providers. How much lead time is spent on follow-up financing? When you make a takeover bid for such an intermediary to your commercial bank, it often suffices to convince the commercial bank to recalculate the terms.
If the business policy of the company has not changed significantly, it will seek a loan extension (prolongation) and is prepared to discuss the conditions. However, if you do not let the former lender speak to you, then you need a binding commitment from another house bank. The rest are usually routine, as the mortgage brokers check the documents and submit them to the responsible credit institutions.
At this point, it is no longer about an extension, but about a reorganization of the existing loan. The new institute will then take over the previous mortgage fee. When should one seek the follow-up funding? Of course, as a borrower, you do not have to be careful that the principal bank contacts you for follow-up financing.
You can also take the first steps in advance and take out a term loan up to 36 months before the end of the current fixed interest period. Thus, the homeowner ensures the current interest for the period after the fixed interest period. Of course, banks allow themselves to maintain the long-term advantage until the end of the current loan.
An interest premium is demanded, which is also called a forward premium. It should be noted, however, that in a forward loan not only the rise in interest rates poses a potential risk, but changes in the life situation can also become an obstacle. Can one terminate long-term fixed income real estate loans? This is on the one hand the advance loan for the immediate purchase and the construction loan contract for the replacement of the bond.
If the current interest rate level falls below the fixed interest rate, you can relax the hypothesis. Only the credit from the contract is used and an annuity loan for the remaining liability is concluded with the house bank.