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Best building loan for the financing secure connection
The slump in mortgage lending interest rates in recent months, among other things, on the outbreak of the global crisis. Builders, for whom a follow-financing out of the question, should not be too long to wait.
The impact on all segments of the economy were severe. The momentum with which the crisis developed, is an example indicative of the stock particularly noticeable. Never, even in previous crises, such as in 1929, the oil crisis or the crisis in Russia, was the destruction of the cap so quickly. Within a short time, for example, the German stock index by more than 50% of the air rauslassen.
The building loan, these fast ride down in recent months followed. Although the decline was measured on the same period, less than 50%, but reached the building loan is a low, which in its form is unique. This means that the mortgage lending conditions as favorable as never before. It thus offers a unique opportunity for those seeking a follow-on financing, the current interest payments significantly reduced. The interest savings that are derived from larger loans can be enormous sums of money. The farming practices assume that the economy in the second half of 2009 stabilized. A touch of growth is already expected for 2010. The major stock indexes as early indicators for the future development of the economy may be, have already completed a soil formation. It is therefore assumed that the building loan also have reached the bottom.
It is therefore not recommended with the assurance of follow-on financing to wait even longer. The financial experts are already on short-term view with rising interest rates. The bank customer, where the rate in the coming two to three years remaining, may already reflect comparative calculations. This can save the future of any interest to be paid the fees intended to loans to be made. If the saving rate is significantly higher, it is worth the advance detachment. It should be noted that the new interest rate is often for the next ten years to be written. It is therefore not only an interest saved on a view of 2-3 years (remaining life of the existing fixed rate), but also on a view of a further eight years (compared with the higher interest rate in two years). The comparison is in most cases in favor of the new fixed-rate spelling fail.
Another way the current interim low secure is the conclusion of a forward loan. It is an interest rate agreed upon, only with the future use of the forward loan apply. This means that already today a loan for the future, for example, three years can be completed. Until the use of forward-loan will be no additional charges.
This allows the early elegantly bypassed and the current interest rates are still covered. Depending on when the follow-on financing will be utilized to calculate a slight premium to the current interest rate. The amount of the surcharge depends directly depends on when the forward loan will be disbursed. The later date of payment – the higher the premium. But even taking into account the interest charge, the conditions remain very favorable. Some banks even waive surcharges. Otherwise differs a forward loan hardly a normal mortgage loan. The current situation should now be used tactically, to prepare for the future favorable conditions to secure construction financing.