When will build a loan? A savings agreement can be regarded as a combination of a savings plan and a real estate loan. At first it is defined a construction cost, 40 to 50% of which must be saved, the rest of the sum will be awarded as a low-interest loan. But for whom is worth the savings agreement?
Building Societies. When is a building loan? What is a savings agreement? Looking at the contracts and the loan interest, one can understand the boom. A well-known building society advertises 1.35% per annum interest on loans, which the customer can firmly situated on ten or more years. Building savings is comparable to a collective thought. All savers pay into a pot, then the deposits and withdrawals are handled by the. That's the reason why the interest for a long time can be guaranteed. With a savings agreement can be the construction or purchase of a property fund.
When worth a savings agreement
There are two agreements which are combined together so that a savings plan and a real estate loan arise. In the Savings Bank interest rates are usually lower than market rates, but so is the subsequent loans cheaper. The process is always the same. First, the savings amount is determined. That is the amount in which the saver will bring to his property. Those who opt for the construction or purchase of a property, then, the Treaty usually represent only a fraction of the total financing.
According to a building society, the savings amount was in 2014 at about 40,000 euros. The customer has to save up this part, usually 40 to 50%. After a predetermined time, possibly for 10 years of the contract is allocated ripe that the saver what that means money saved for his mortgage can avail.
Pay attention to the period of saving
The advantage is that the customer can secure the currently low interest rates in many years. But the low interest loans are only available when was paid long in the contract. A case study shows that it is the "comfort Bausparen" offered two possible loan interest - 3.25% and 2.25% per annum. Those who opt for the favorable interest rate, which has to save up more, so around 60%. A calculation shows that bausparen only worthwhile if the loan is actually utilized.
There are also risks associated with the savings agreement. However, many savers not aware that the building society can not guarantee the actual allocation point of the loan. The reason lies in the home savings collective. If there is not enough Depositors in the pot, then can be operated with loans, not all borrower. If you want to choose the appropriate savings agreement, the portals should look at the offers and to become familiar with the exact conditions.