Loan cheaper building rates than fake packaging

The supposedly cheap building rate for building savings deceives many building owners. Striking advertising suggests that there is no cheaper home finance than home savings. But far from it.

The way to your own four walls with building society savings can be very expensive and unaffordable financing for many building owners. Home savings and bank loans are not so easy to compare. The marketing strategists of the building societies take advantage of this.

Loan cheaper building rates than fake packaging

Loan cheaper building rates than fake packaging

A cheap building rate alone does not mean that financing is cheap. Not even with building savings. When it comes to home savings, it is similar to a bank loan. There are countless tariffs and options that drive up the cost of building savings.

Low credit interest, high transaction fee, the amount of the repayment and the allocation period. In addition, home savers first have to save a lot of equity, and with very meager interest rates. These facts quickly make it clear that a low-interest rate alone is not meaningful.

It depends on the building society tariff

The highly acclaimed building society tariffs with low building interest are usually unsuitable for a comparison compared to normal real estate financing. They have to buy the so-called low building rates for building savings at a high price. With tangible disadvantages. Building society savers must save their contract for a particularly long time before the loan is allocated or paid out.

This usually with a credit interest rate of one percent. In addition, you can only get the low building interest rate with a small credit line when you save money. Alternatively, the building loan must be repaid very quickly after the loan payment. As a result, the loan rates for many builders are almost priceless. Caution should be exercised when it comes to building savings.

Building loan tip Good Finance

Building loan tip Good Finance

Before you decide to save, you should compare several offers exactly. Every home savings offer should include a savings plan and a repayment plan. This results in:

  • When the home saver is allocated
  • How high the loan payment from your home saver is
  • What the credit rate will be
  • When the home loan is repaid.
  • What your property with home savings really costs in the end!

Only with these facts can you judge whether home savings are affordable for you as financing or whether they are suitable at all. You will also find that the building rate alone is really of little significance when it comes to saving money. Both the variety of tariffs and the different modalities of repayment make building society savings opaque financing.

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