Financing your own home has become expensive.
Image: Picture Alliance
Building societies are happy about numerous new deals. But old customers argue with their providers about cancellations, bonuses and fees. If a letter comes from the building society, caution is advised.
DInterest rates have risen sharply in recent months. Financing your own home has therefore become correspondingly more expensive. And since German citizens tend to be security-oriented when it comes to their own wallets, building savings have become more attractive again with rising interest rates. Finally, you can secure loan interest with a building savings contract – also in order to be able to finance the solar system on the roof, balcony or other renovation work in a few years.
“The interest rate turnaround led to record results for building savings in 2022,” says Alexander Nothaft, head of communications at the Association of Private Building Societies. After all, with a building savings contract you can still secure building interest rates of between 1.5 and 2.5 percent. Depending on interest rates and lending, a good four percent is currently due on the market.
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