The building societies are currently not very easy. The reason for this is the extraordinarily low mortgage rates: those who currently want to finance a property have every reason to enjoy the low interest rates. Most banks offer very attractive loan offers. In times like these, many people are thinking about not even betting on savings, but to take out a loan right away. After all, the dream of owning a home can thus be met immediately – saving years of saving a home savings contract is no longer necessary.
In order to be able to continue to be involved in the financing business, the building societies are increasingly recommending the pre-financing of savings and loan agreements. The basic idea is quite simple: The homeowner is provided with an immediate real estate loan, with which he can finance his project. At the same time, a home savings contract is concluded, the loan of which is intended to replace the existing loan or pre-financing. In this way, a particularly high degree of security is to be obtained: The favorable conditions for follow-up financing are considered secured.
So that the Bauspar contract can be allocated more quickly, a larger loan (which exceeds the actual financing requirement) is taken in the pre-financing to bring the Bauspar contract faster to allocate or deposit at the beginning of a larger amount.
However, financing experts are increasingly warning against these financing constructs: The pre-financing is usually relatively expensive and because of the additional financing needs particularly costly. A repayment usually does not take place, because instead of the home savings contract is spared. The result is additional costs that are not always directly apparent at first glance, but make the overall financing much more expensive.