When the fixed-interest period of your loan contract expires, you have the option of changing banks and concluding a new contract. In this way, significantly better interest conditions can often be negotiated. We will show you how you can fully exploit your optimisation potential.
Banks are obligated to submit a new offer to their customers three months prior to the end of the fixed-interest period. However, you should not wait for that. Instead, obtain offers from several banks at least 12 months before the fixed-interest period expires and compare them. In this way, you will often get significantly better conditions than with your previous lender. With a forward loan, for example, you can secure the current low mortgage rates for up to five years into the future.
When you want to start using your follow-up financing depends above all on how you assess the future development of interest rates. If a long-term increase in interest rates is likely, you should react early on, in order to secure the currently favourable interest conditions for the future.
Changing banks for a follow-up financing is neither expensive nor cumbersome. The savings potential upon changing banks, which is often in the four figures, is frequently only offset by comparatively low costs for the assignment of the land charge.
With a land charge of 100,000 euros and execution by the bank, the costs are just under 200 euros. Savings, on the other hand, can amount to several thousand euros, depending on the amount of the interest advantage obtained.
We at Hypo Help will be happy to help you with any questions you may have regarding follow-up financing. Working with you, your personal financing consultant will analyse your life situation, your financial framework and your wishes. On this basis, we will create a tailor-made financing concept for you, and find the right lender for you among more than 400.
Would you like to clarify your questions personally with a financing expert? You can reach us during business hours via the telephone instant advice service at the following number.
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