The financial question: Dr. Jekyll and Mr. Hyde

Savings contracts are really good if you want lashed low interest during construction for future real estate projects for a quarter century now. With current projects, they are but usually too expensive.

L above of the usefulness of building savings the Association of Building Societies lists long and proud on his website. The massive scolding the Stiftung Warentest, however, February is missing from the collection of quotations. And to the annoyance, the building societies do their existing customers nationwide with the termination of contracts, it says nothing.

The way it is with the building society, always a bit Dr. Jekyll and Mr. Hyde: Here is the sobering conclusion of product testers for quality advice in the sector ( “Most building societies were not a Satisfactory or Sufficient addition”), there the well dry Praise the tester ( “building society is and will remain a great idea for savers who build or buy a property in the future want “). Now, who the Bausparer met if Dr. Jekyll and Mr. Hyde, depends on its real estate plans.

Believe it or not, the staid savings contracts are an interest rate speculation and the nice Spießer the Landesbausparkassen always interest speculators. In fact, today it only creates savings contracts, sure to save parts of particularly low loan interest rates in the future. “By building a society – and just so! – you can now secure the extremely low loan interest rates permanently, although you may build until five, eight or ten years, or buy will “preach the Association of Building Societies – and forgets to draw attention to the cost of the backup. The low lending rates are generally paid with even lower credit interest. 0.25 percent interest for the saved and 2.5 percent rate on the loan is a current combination. Then there’s the final fee. usually it is a percentage of the savings. It all adds up to the price of interest rate security.

The interest rate speculation nice Spießer

Quite an alternative as the Association would have us believe, his contracts, therefore, do not appear. There is another serious option to pay a house or an apartment in the foreseeable future: Save with a Savings Plan and subsequent funding to the mortgage loan from a bank. The advantage: higher interest rates in the savings phase and no sales charge. The downside: No one knows how high mortgage rates will be in five, eight or ten years.

“Here the marginal interest rates will help,” said Heinrich Bockholt, professor, and director of the Institute of Finance in Koblenz. Experts like he compare financing plans. You go there by the same cash flows from, expect what comes together in the savings phase and look at the necessary loans to. Then they expect to continue for the simultaneous repayment of the last Euro in savings agreement and the mortgage. Comes out of the mortgage, which is slightly smaller because of the higher savings assets than savings loans, an interest that may be higher than the building society loan.

Up to this point, the combination of savings plan and mortgage is better than the savings agreement. If the mortgage rates should exceed the marginal interest rates, the savings agreement is more favorable. The saver must decide: Does he think a mortgage rate above the marginal interest rate for likely he takes the savings agreement. This is the interest rate speculation nice philistine.

The marginal interest rate for the bank Alternative

The example of a funding of 100,000 euros over 20 years, the current limit interest rate and the interest rate bet plastically. A building loan: the features of the test winners Stiftung Warentest be compared Wüstenrot & Württembergische AG with an installment savings plan DenizBank AG. The savings agreement starts in 92 monthly installments and a savings contribution of 500 euros. The credit interest rate is 0.25 percent. In October 2022, the contract is assigned, then the loan of 54,583 EUR 148 months is repaid with every 431 euros. After 20 years, the financing is done.

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