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Adjust building loan contracts: possible changes
Adjust building loan contracts: possible changes

Video: Adjust building loan contracts: possible changes

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Adjust building loan contracts - is that possible? You bet! Building society savers have many options for changing contracts, reducing or increasing the amount of building savings.

Table of contents Table of contents Adjust building society contracts: These changes are possible

  • Adapt to the circumstances: the building society contract as a quick-change artist
  • Your building society contract is so flexible
  • Building society contract - adjustment implemented
  • Increase home savings
  • Old beats new
  • Transfer building society contract: a nice gift
  • Experts help
  • Find the right tariff before concluding the building society contract
  • Residential Riester brings additional benefits
  • LBS contract information on the Internet

Table of contents Table of contents Adjust building society contracts: These changes are possible

  • Adapt to the circumstances: the building society contract as a quick-change artist
  • Your building society contract is so flexible
  • Building society contract - adjustment implemented
  • Increase home savings
  • Old beats new
  • Transfer building society contract: a nice gift
  • Experts help
  • Find the right tariff before concluding the building society contract
  • Residential Riester brings additional benefits
  • LBS contract information on the Internet

Even those who plan their lives down to the smallest detail cannot predict everything. For example, anyone who signs a home savings contract usually pursues the goal of living in their own four walls. But by the time most people sign their first home savings contract, they still don't know what their life will be like in ten or twenty years.

Adapt to the circumstances: the building society contract as a quick-change artist

The building society contract is a veritable chameleon: it can be adapted to the changed circumstances again and again - and still offers the greatest possible security. Because you lose the guaranteed interest rates just as little due to the flexibility as the right to the cheap home loan.

No matter when and why someone chooses to save, they remain flexible. And gets closer to its savings goal, even if this changes. Young building society savers are in a particularly comfortable position: The contracts for the home construction bonus do not apply to contracts concluded before the age of 25. The young saver can thus finance his trip with the home savings credit without losing grants. Prerequisite: he has paid in seven years.

Older building society savers also have more scope than many are aware of. For example, they may not only use building savings to purchase property, but for many residential purposes - for example, for modernization. Above all, however, many contracts are quick-change artists: someone needs money earlier than planned? The need for financing has increased or decreased? Depending on the tariff, there is almost always a suitable solution.

Your building society contract is so flexible

Starting position What you can do Result
Your financial needs are greater

than when the

Building society contract thought

You increase that

Home savings sum.

You close one

further home savings contract.

The loan claim

grows to the same extent.

You need earlier

Money as planned.

You are changing to a different tariff.

You reduce the amount of the home savings.

The saving time is reduced

the building society contract is

allocated earlier.

The minimum savings amount

gets smaller, the contract can

be dated earlier.

You don't need it right away

all the capital.

You share the contract You can save the home loan

take gradual.

You want at all

no longer build or buy

You transfer the contract

to close relatives.

You use the money

for modernization.

The beneficiary takes over

all rights and obligations.

State premiums

remain intact.

they have one

financial bottleneck.

You cancel the contract.

You leave the contract on hold.

Not recommended, but possible.

That's how bonuses go

and allowances not lost.

Source: LBS

Building society contract - adjustment implemented

Building savers can be found particularly often in the following situation: At the end of the contract, the salary was still modest, the ideas about the future home appropriate to the low earnings. After a few years, the career leap takes place and with it a sharp increase in salary.

Increase home savings

Now completely different perspectives are suddenly within reach. But the modest amount of home savings no longer fits. No problem: In order to be able to finance your own home at the Stadtpark instead of the terraced house in the suburbs, you need a higher loan entitlement. Your LBS home savings adviser recommends that you top up your home savings sum. If you increase this by 30 percent, for example, your loan entitlement increases to the same extent.

Bausparer können einfach auf jede Situation reagieren
Bausparer können einfach auf jede Situation reagieren

Who knows what will be in 10 or 15 years? Building savers can easily respond to any situation.

/ Italianestro

Old beats new

Of course, you can also sign a new home savings contract at any time. Whether this makes sense depends on the conditions of the old contract. Even if you do not yet know whether and when you will build, there is an opportunity to increase the amount of the home savings. Then, while your decision is maturing, you can still accumulate valuable equity, including interest and any funding. The conditions: At the time of the increase, the contract must not yet be allocated, and the tariff must also be in the current offer of your building society.

Transfer building society contract: a nice gift

If you are sure that you do not want to build or buy, you can also transfer your building society contract to close relatives. They will certainly be happy about the valuable gift. It makes it easier for them to fulfill their dream of living faster: a building society contract is in great demand as a financial aid due to its attractive conditions.

Baufinanzierung Geldscheine auf Plastikhäuschen
Baufinanzierung Geldscheine auf Plastikhäuschen

Building loan contracts can also be transferred - the recipient is sure to be happy.

Photo: Denis Junker - Fotolia

Experts help

Before you make changes too quickly, you should contact your LBS home savings consultant. He will check for you whether the desired conversion is possible or sensible. The financial expert also knows whether there is perhaps an even better solution for you. Because who builds or buys, needs 100% security. The advisor also knows which grants you are entitled to. So nothing gets lost.

If the purchase or construction view becomes concrete, the credit discussion with the bank advisor is due. The be-all and end-all is preparation. This includes bringing all important documents with you. So: ID and payroll (self-employed: balance sheet or income statement including tax assessment), evidence of equity and a statement of the charges. Documents on the desired property should not be missing. Keep the purchase price and additional costs at hand, but also, for example, a land register extract and building specification.

You should inform yourself in advance about the expected conditions. The more you know the situation yourself, the better your negotiating position will be.

Tipps für das Kreditgespräch
Tipps für das Kreditgespräch

It is best to prepare for the loan discussion as far as you can.

/ Jeanette Dietl

Find the right tariff before concluding the building society contract

When writing about home savings contracts, it is often about the use of home savings funds. This is important, but the course is already set before the allocation.

Analyze requirements: In the first step, you and your consultant determine the right home savings sum and the right tariff. To do this, you must determine the time at which the money is expected to be available later. The decisive criterion is also the savings rate that can be applied. Income and life situation play a role here. Both also determine whether you receive grants.

Including subsidies: If you do not exceed certain income limits, the state will help you with a housing premium or employee savings allowance. The Riester building society savings contract is often the first choice for families with small children.

Deposit money: Once the right contract has been found, savings begin - usually with four per thousand of the agreed home savings sum per month. In addition, many tariffs also allow one-time or special payments that shorten the saving time. The contract is ready for allocation when the minimum term and minimum credit (usually 40 to 50 percent of the savings amount) have been reached.

Securing interest: Give your LBS advisor as much insight as possible into your life situation. It is all the easier to find the tariff that leads you to the property. At the end of the day, all contracts have one advantage in common: as soon as they are concluded, credit and loan interest rates are fixed for the entire term - an interest rate guarantee that is not available anywhere else.

Residential Riester brings additional benefits

175 euros per year for each beneficiary plus 300 euros per child and year (up to the year of birth 2007 only 185 euros) - without income limits. Plus a starter bonus of 200 euros for everyone under the age of 25. The conclusion of a Riester building society savings contract is almost always worthwhile.

Extra incentive: Everyone with a small to medium income receives a housing construction bonus and a worker savings allowance (for benefits that affect capital) for payments to the LBS home savings contract. That adds up.

LBS contract information on the Internet

You can always keep an eye on your finances online. You can find out more at www.lbs.de.

Apply for access online. You will receive your ID and PIN in separate mail. Choose between two levels. Level 1: Access to your contracts and shared accounts. Level 2: in addition to your spouse's individual accounts - with the spouse's consent.

In the account overview you can see all your home savings accounts: personal and joint home savings contracts, in the detailed view details of the respective account. The sales view shows all sales for the selected account.

Security If someone enters the wrong PIN three times, it will be blocked. If you have forgotten or lost your ID, apply for a new one online. Internationally recognized encryption methods and a certificate guarantee security. Use only the latest generation of Javascript-enabled browsers. Never keep your PIN and online ID together and never save them on your computer.

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