In the current financial test, the experts of the Stiftung Warentest examine the cheapest offers for follow-up financing for real estate loans. For homeowners in addition to Volltilgerkrediten also forward loans in question. Due to the low interest rates, the conditions are cheaper than ever. The potential savings are often in the five-digit euro range.
The new follow-up financing test of the Stiftung Warentest (loan issue 05/2015) not only awards the cheapest offers for follow-up loans. The experts also show different ways to profit from the currently low interest rates . Because not only the homeowners, whose first financing expires in the next twelve months, can now take care of their follow-up financing. With a forward loan, good interest rates can be secured up to sixty months in advance .
Follow-up financing test: This is how Volltilger and Forward loans work
In the follow-up financing test of Stiftung Warentest the focus is on two forms of financing. If the initial funding expires within the next twelve months, the Volltilger loan is recommended . A repayment installment is agreed with the bank, which ensures that the loan is paid by the end of the respective fixed interest period. This results in very high repayment rates, especially at the beginning. For Volltilger loans are particularly favorable .
Homeowners whose initial funding is still between thirteen and sixty months also have the opportunity to negotiate the conditions for their follow-up financing. The forward loan will secure the low interest rates for a period of up to five years from the signing of the contract . Although the bank requires a premium for this interest rate guarantee. However, if the general level of interest rises in the agreed period, then this protection pays off for the homeowner – because the bank still has to offer financing at the contractually agreed terms.
Follow-up financing test: Homeowners can save further
In the follow-up financing test 2015 Stiftung Warentest shows: Despite the very low overall interest rates consumers should not choose the first offer. Because there are still big differences in the exact interest rates. For a 120,000 euro loan, the extra costs can quickly amount to over 18,000 euros .
These are the best deals for a 15-year term:
- without lead time: Sparda Hamburg (from 1.20 percent)
- 2 years lead: Sparkasse Bremen (from 1.52 percent)
- 3 years: DTW, Hypofact (each from 1.75 percent)
- 4 years: Baufi Direkt, Haus & Wohnen, Sparkasse Bremen (both from 2.01 percent)
Follow-up financing without state funding
Who hopes to be able to complete the follow-up financing with the state Riester subsidy is disappointed . The Stiftung Warentest has found in their investigation, not a single nationwide Wohnriester loan for follow-up financing. However, Riester loans are also difficult to find for the initial financing of a property . In the follow-up financing test, however, not all regional providers have been scrutinized. It therefore makes sense for consumers to inquire about Riester loans from regional credit institutions.