It is really worth considering the new opportunities that financial institutions have come up with. Bridging loans are already available at three banks, allowing you to take home savings combined with a home loan much sooner than usual.
Of course, the amount is spent on housing and creditworthiness is a condition. You can apply for a bridging and immediate bridging loan at Good Finance Home Savings. For the time being there are few cash registers available, so check this out.
Who might be interested in this? Those who would like to take advantage of the benefits of LTP, but would instead need the financial help to buy or renovate real estate, instead of 6-8-10 years.
An advantageous option is even more preferred
Home savings are the best savings conditions – a 30% state subsidy is a major contribution but can only be used for home purposes – so you don’t have to wait until the end of a multi-year term.
Home savings must be accompanied by a mortgage; the bridging loan allows you to prepay the amount accrued over the entire contract period as well as the amount of the home loan. You will then have to pay this in monthly installments.
The constructions are fairly recent, the details are not yet fully published
Banks have not published any repayment tables, so it is worthwhile to find out more about it in person.
What is certain is that the term is the savings period plus the repayment period of the home loan plus the 3 month payout period (except for, where the maximum is 156 months). The interest rate on a “home savings loan” is fixed, so we do not have to wait for increasing installments.
Property coverage is required
In the case of Goodbank, if we do not withdraw the money immediately, but after 2 years, the interest is cheaper. So a little patience makes for a cheaper repayment – but 2 years is very beneficial, with exceptionally good home savings with savings.
What you should keep in mind is that, as we have written above, in addition to home savings, the mortgage must be included, so this is a combined offer where two products are sold to us.
The home loan portion requires a creditworthiness test for the contract, and we also need to have real estate collateral to start the bridging loan.