Real savings & loan The classic real estate

The real credit is nowadays the classic form of long-term financing, which usually for each property acquisitions (condominium, terraced, single-family and multifamily) is suitable.

Within the meaning of Section 11 of the Commercial Code are loans that are within the first 60% of the market value, as described Real estate loans. The remaining financing is a loan objektgesicherter staff to consider.

This is, that the first 60% to a so-called 1st Mortgage or a loan-Ia, which is related to mortgages in the land is secured by the proceeds of the land and the building darauferrichteten easily can be financed.

At the 2nd Mortgage or financing the rest, applicants must in addition to the basic mortgage hedging (mortgage, mortgage, pension debt) private guarantees to enable banks to insolvency of customers on its assets and income to fall back upon. The so-called 2nd Mortgage can be used as a credit objektgesicherter staff are designated.

EQUITY

With this financing choice is usually vorrausgesetzt equity. The equity ratio should normally not be less than 20%, with good credit also the option of a 100% - debt exists.

INTEREST

The real credit reform has meant that interest rates do not always funding for the entire duration can be written, but at certain intervals to the current situation of the capital market must be adjusted. The Neufestschreibung done in the banking practice at 5, 10 or 15 years.

BAUSPAREN

Real lending institutions (banks, ...) to refinance primarily by issuing mortgage bonds and municipal bonds. The investor has in the bank as opposed to the building are not entitled to a loan.

In the building, under Article 1 (1) of the Building Act (BSpG) of the building and the borrower and the same person dar. When savings will be between the investors and building a building over a certain sum contract completed. The Investor has pointed once or at regular intervals the contractual rates to pay (vorsparen). After reaching maturity of allocation by the criteria for the minimum savings, the minimum savings of time and a sufficiently high valuation point will be met, the building has a legal right to the payment of the accumulated assets (including interest). In addition, he has the possibility of an application for the building saving loans to make. The amount of the loan arises from the difference between the contract sum and the building loan balance.

Another feature of this form of financing is that building societies often with a subordinated security in the land and are prepared to do the loan up to 80% of collateral value to be granted. Thus, the housing savings system an "interesting" 2 Mortgage dar.

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