Building interest growing: ‘financial test’: Pay attention to credit fast

Nobody can predict how interest rates will develop. But if you have a follow-up loan to finance construction in less than twelve months, act now. This way, homeowners can secure conditions for the next few years, which are still favorable in a long-term comparison. magazine reports “financial test” (Issue 5/2022).

Even if the end of the fixed-rate construction finance rate is only twelve months or so: forward loans create a planning security for a date in two, three, or five years. An additional fee is to be paid, but according to “Finanztest” it is currently only slightly higher than it was about six months ago.

Use cheap offers as leverage in home bank

Owners should calmly proceed with the search and not rely solely on the extension offer from the previous bank. You can save thousands of dollars by switching. This was the result of comparing 67 banks, brokers and insurance companies.

Mortgage financiers will look in vain for the zero before the decimal point, but depending on the case, there was a full percentage point difference in testing between the cheapest and most expensive offer. In addition to the interest rate, pay attention also to other key data, such as the possibility of special repayment.

Tip: If you want to stay loyal to your home bank, you can still use offers that are cheaper than the competition to renegotiate with your bank.

© dpa-infocom, dpa: 220411-99-883313 / 3 (dpa)