All home borrowers know that if they succeed in closing the loan first, the bank will charge a down payment . In addition to the final repayment, there is also a prepayment when we repay part of the debt, which is also free. Fortunately, there are ways to avoid both.
Many consider these charges to be exorbitant on the part of the lender
Since the debtor is in any case paying off the interest. However, if the repayment period for us is shortened by several years, we will get a much cheaper loan and the bank would like to make up for the interest lost.
The customer is happy to stop repaying his credit for as many reasons as he can. It is always risky to pay a larger amount month in, month out, because we do not foresee the future. On the other hand, if your installment is not a fixed amount, especially if you have a short interest period, it will depend on your current interest rate. We’ll always have to wait for the amount to change when the bank recalculates it – quite a stress factor, after all. For example, we could choose an interest rate period of 3 years, 5 years or 15 years; the more frequently you switch, the more shocking your loan repayment will be.
How can we shorten the repayment?
We have a more serious expense than a borrower if we are able to repay the entire loan through good luck in the first 3-5 years . In this case, the initial start-up costs are usually reimbursed by the creditor.
If you repay later, the final repayment is a fee of 1.5-2%, and the amount is capped, which is much more favorable, but if possible, it is worth avoiding. So we don’t have to pay back all the interest we have.
Basically, in the case of prepayments, we have the option of not paying in certain cases, which differ from one financial institution to another. At most banks, the first or first two prepayments are free, and there is always a 4-5 year period before you can avail of this opportunity. Prepayments reduce the debt, but we cannot cover the entire loan at once.
Here you can choose: By default, the term remains the same, but we pay less per month;
And the final repayment may be delayed if:
- An intra-bank loan is redeemed
- When redeeming a loan, when the customer enters a new bank, the amount of the previous loan is repaid free of charge to the new loan
- For children born after applying for CSOK, the loan can be used to replace the loan
- In the event of the death of a debtor – but rather not.