Home loan interest
Due to the increase in the Yebank, interest rates for variable construction financing rose from three to six percent. Better to fix the variable interest rates now? To annoy real estate buyers with variable interest rates, the current development increases the price of construction costs. Who used a variable loan between 2009 and 2010, should check whether it is meaningful for a rescheduling in a fixed-rate loan, advises Manly Fred of Construction loan mediator Enderlein. Especially debtors who have to rule out a further price increase of their credit load should equip at least part of the loan amount with a classic fixed rate loan.
The question of how quickly variably the variable credits can rise in price had to test real estate buyers between 2005 and 2007. Within two years, the so-called Yebank interest rate increased from two to five percentages. It serves as the reference rate for the variable bonds of The interest rates for variable mortgage lending rose from three to six percentage points with the rise in the euro.
In the next few years, a similar scenario is quite possible again if the economic situation prevails even when traveling outside Germany, says Hlscher. There are two options for action If you took a variable loan of less than two percentage points in 2010, you will already have to raise around 0.5 percentage points today. Every three or six years, the conditions for variable mortgage lending to the Yebank will be improved.
Repay your loan
You can either repay your loan in any amount you want â € “only those who benefit from this opportunity and above average clears, really scores on the variance of interest rates, explains Hlscher.” Who but the eradication flexibility does not use and only slightly erases, In the view of the financial experts, this should consider the second possibility of debt restructuring to pull the variable credit line back into a fixed rate loan.
This would increase the interest burden, but debtors would then face further rate hikes and thus unpredictable cost increases. Fixed-interest loans under 10-year fixed-interest loans still have a borrowing rate of less than four percentage points, for example at 3.67 percentage points at MetLoan, 3.69 percentage points at Sparda Bank Nürnberg or direct insurers Europe and DTW. Real estate financing with 3.74 percentage points each.
In particular, entrepreneurs or certain specialist groups, such as physicians with high fluctuating incomes, could save immense interest rates with flexible loans. Especially if they use the interest rate saving program against a fixed rate loan transaction for a higher repayment. Part of the loan is paid by over as fixed loan, the other by over as floating rate loan.
For example, debtors can cut in half by low Yebank interest rates and high repayment flexibility and, secondly, by the interest rate risk of the fixed-interest loan.