The reservation haven is used to secure an interest rate for a mortgage over a period of time without the obligation to actually take over the mortgage. The bank provides the pledge for a certain interest rate so that the property seekers are not exposed to the risk of interest rate fluctuations. The potential future borrower is not yet entering into a credit agreement, but the fixed interest rate is secured by the reservation mortgage. This is especially useful if a rise in interest rates is to be expected soon, but no real estate has yet been found. It is, of course, not possible to conclude a binding loan, because in such a case a non-acceptance penalty is threatened, in the event that no purchase is made in the foreseeable future. The interest rate for the financing of the property is from the collateral value for this reason, the reservation mortgage is not given by all banks because the interest rate can not be calculated without the corresponding property.
What are the advantages or disadvantages of a reservation haven?
The reservation hive protects the interest on the mortgages up to the later conclusion of the construction or purchase contract. An increase in interest rates of half a percentage point would make an 150 000 Euro loan more expensive by up to 9 000 Euro, if interest rate fixation is fixed for ten years. With the reservation office, it is possible to save money because an increase in interest rates can lead to a much higher total loan amount. A further advantage lies in the fact that usually no interest rates are incurred. The borrower is free in his decision as to whether or not he actually takes the loan in the future acquisition of the property. If the interest rate has decreased during the reservation period, it can take a more favorable offer from the same bank or switch to an even more favorable bank. In addition, the interest rate at the reservation office is fixed, if it falls later, the interest rate advantage can hardly be used depending on the contract. In the video
the basic data on the reservation hygiene store are explained. The disadvantage is that self-employed persons and borrowers with a low Equity Get problems and hardly get a reservation haven.
The real estate market in Germany is always on the move
In the metropolitan areas with preferred residential areas and in the famous tourist centers, there are many prospective customers looking for a new property. Young married couples are affected by the high real estate costs and can save money with their own home financing with the reservation store. Suppliers of home finance are not only subject to the high competitive pressure, but also to interest rate pressure. Flexible forms of finance, such as the reservation hygiene store, are an example of this; that the principle: first the property and then the Mortgage can also be reversed. The reservation loan makes it possible for those who are thinking of acquiring a home, can reserve a suitable credit for up to six months free of charge. Specific information on the purchase of the property, such as the type of the property (eg house or apartment), the location and the construction of the future property are the basis for the calculation of the later interest calculated after the half year. Both parties (the bank and the borrower) agree on the option to conclude a credit agreement. As soon as the loan is disbursed, the lender's claim in the land register is secured by the registration of the land mortgage or a mortgage.