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Bank or building society?


LDear “desperate” tenants! You know that latecomers will be fined. What do you think, dear readers, does this statement also apply to people who will have to take out a loan in the near future, which was 70 percent cheaper at the beginning of this year? Or do you think it’s just bad luck? I incline to the second judgment out of pity. First, people who need money today didn’t need the capital a year ago, and second, no one could have predicted that costs would skyrocket by 250 percent in a matter of months. In my eyes, whining and complaining are of course pointless. Much more important is the ability to calmly accept what cannot be changed and not fall for any special offers from banks and building societies. Otherwise it will be even more expensive!

Today’s protagonist is 35 years old and needs 500,000 euros to be able to buy his own home in the commuter belt of Berlin, which costs 700,000 euros. He is a loyal customer (of his) at a savings bank, and there is really nothing to be said against the Reds. Or do you not find the suggestion of paying off the loan with the help of a home loan savings contract that exciting? On the advice of an “expert” from the Landesbausparkasse (LBS), the man should take out a fixed-term loan that costs 3.5 percent per year. The repayment is to flow into a home savings contract, which will be allocated in ten years and cost 1.25 percent annually. What do you think of the offer? Need some time to think? Or would you rather know where the rub is in the pepper? Then you have to calculate a bit, but you will see that the effort is worth it.



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