Am 52 years old and since 2000 in the Internet on the way. My main topics are:
The topics: Building – Crafts – Construction Equipment and Health and Exercise.
House bank for financing the right choice?
Many builders here first consider their house bank. But a comparison of the terms, installment amounts and interest rates at several banks is worthwhile in any case.
Remember that your interests are paramount, not those of the bank. A credit institution is always interested in the collateral for the construction sum, the most detailed planning security possible and is also happy to plug in additional products,
- How investment vehicles or
- Insurance
With into construction financing. This is where you need to pay attention and you shouldn't get "talked into" anything that you don't really need for your construction project. Residual debt insurance is a worthwhile proposition, you should be skeptical of all other insurance benefits.
How will interest rates develop in 2022?
The ECB plays the decisive role in the development of construction interest rates in Germany.
Construction interest rates of up to 1.75 percent are possible again in 2022. In 2022, interest rates on home loans will rise above 1 percent for the first time in 2 years.
Construction financing must be clear and understandable in its form, and not set up like a book with seven seals. If a rat tail of other additional offers hangs on it, then you should work towards a reduction or another model.
For a construction financing to be in your interest, it should, above all, have the most favorable effective interest rate. The option to flexibly adjust repayment rates, suspend them or make a complete repayment before the fixed-interest period expires should be available.
Direct banks as an alternative?
It doesn't always have to be the house bank, even if you've had your checking account and savings account there since you were a child. Today there are so many possibilities, also direct banks can be the correct way.
The consumer centers advise in questions of the construction financing. Here a discussion in the apron is worthwhile in any case, because the experienced advisors know the tricks of credit institutions to drive a financing model unnecessarily high. They also provide tips on which construction financing is appropriate in an individual case.
My bottom line.
As with almost everything, always get multiple quotes, opinions and information. Sources and opportunities are more than plentiful on the Internet!