Many homeowners who built or bought ten or fifteen years ago will soon be facing follow-up financing. This means: the previous fixed interest rate ends - and a new loan must be taken out. In times of fluctuating interest rates and changing market conditions, smart planning is particularly important now. If you act in good time, you can secure favorable conditions - and avoid unnecessary financial pressure.
Check options at an early stage
Owners should take action at least three years before the fixed interest rate expires. Banks offer so-called forward loans, with which current conditions can be secured for the future - for a moderate premium. Debt rescheduling with other banks is also possible. It is worth comparing offers, as even small differences in interest rates can save several thousand euros over the term.
Repayment installment and residual debt at a glance
Many owners use the follow-up financing to adjust the repayment. If you can increase the monthly installment, you can reduce the remaining debt more quickly and save on interest. At the same time, financial flexibility should be maintained - for example through special repayment options or installment breaks. The important thing is that the follow-up financing should match your current life situation - whether it's family, retirement or a career change.
Advice pays off
An independent financial advisor or your own tax advisor can help you make the most of individual options - e.g. through subsidized loans or combination solutions. It may also be possible to incorporate energy-efficient renovation measures and make them tax-deductible. If you plan wisely, you can combine follow-up financing with an increase in property value.
Conclusion
Follow-up financing is not an annoying obligation - but an opportunity to realign your own finances. Owners who compare early, are well prepared and seek advice benefit from security, savings and predictability.
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