Mortgage lending at ERA Bank (credit, house)
I’m looking for a pending housing purchase (new building) a bank to finance a loan of 250,000 EUR or less KFW 200,000 EUR. I currently have a fixed interest rate ERA bank of 2.3% for 10 years. Only the interest payments to the bank and the repayment of 1.2% are paid in a BHW home savings and after 10 years in the ERA loan.
To what extent is the ERA bank credible? But before you decide for or against the financial concept, you should be aware of your individual requirements, ie what you are particularly interested in financing. It would be best to have an in-depth expert briefing you on your financial circumstances and your individual requirements when selecting a funding opportunity.
In spite of all advertising measures, I can only advise urgently from ERA Bank, since FED Credit was not involved in the purchase of my apartment despite the corresponding demand. The bank I report to the prosecution and the prosecutor! Bank and interest are fine.
Beware of redemption options: But not every offer benefits
If you opt for long fixed interest rates, you should definitely pay attention to a high level of flexibility – even if this should drive up prices. Special repayment options are almost standard for credit institutions. With the repayment correction, you can change the repayment amount in the course of the interest commitment two to three times up and down.
In general, however, the possibility is not integrated into the overall offer, but must be activated. The first and second redemption changes are often free. It is between 25 and 250 euros per transaction. An interest premium can be very expensive. Finally, in our case, eight banks charge a premium of 0.02 to 0.1 percentage points instead of a fee per transaction.
With 250,000 EUR loans, the 0.05% premium over 20 years is more than 2,000 EUR. Especially the package offered by Postbank / ERA Bank convinced us. It says: A repayment rate change is possible on informal request of the client and after verification – 200 EUR are payable per repayment rate change.
This would be worthwhile in principle flexibilization. Mobility is somewhat limited in many banks – for example, because customers have then renounced special repayment options. Conclusion: Repayment changes are very favorable for young people and older people and should not be missed in any loan application. Our mortgage comparison (detailed version) includes the possibility of repayment change with surcharge.