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Bundesbank

Cheap debt to no early repayment penalty interest rates for housing loans are always still unbeatable cheap long-term comparisons. According to Bundesbank statistics, the average effective interest rate of loans with maturities of 5 to 10 years amounted in April 2011 only to 4.18%. In August 2007, he was still a full percentage point higher at 5.18%. Understandably, resent builders have long financed their real estate to a higher fixed interest rates as. They would complete the credit under the current conditions, they could save some ten thousand euro in many cases. Debt to is possible, but usually not readily because the Bank can be meet the credit up to the end of the fixed rate agreement, or an early termination only upon payment of an early repayment indemnity must agree to, what usually destroys the interest rate advantage. Not so rarely there but on one side a way, the expensive credit to finish, without an early repayment indemnity pay. Namely, if the revocation of the credit agreement is wrong.

It is since 03.11.2002 no longer, whether you have completed the credit in a doorstep-selling situation, because since that time 495 each consumer admits BGB 2 weeks in case of a right of withdrawal, that the loan agreement in the Bank has been completed. The withdrawal period starts to run, if the revocation information is correct only and that is often not the case. The error are manifold. For example, the cancellation policy is wrong when it says that the revocation is considered failed if the consumers pay back the loan within a period of 2 weeks. The revocation would be incorrect even then when she should begin to run cooling-off period only with the entrance of the credit agreement with the Bank, or if the revocation information leaves open whether there is a related business between the credit and the funds that financed. If a withdrawal is wrong, can However, only an expert sure judge. Who wants to save his real estate financing, should have checked his credit agreement therefore by a lawyer specializing in banking and capital market law. Because the construction interest rates rise again for a few months, stakeholders should act soon.