Thursday, December 12, 2019
So that savers really have something of their contract, tariff variant, Bauspar sum and savings rate must be well coordinated. That's what consumers should look for.
Building savings can be worthwhile. Anyone planning to buy or modernize a property in a few years can protect themselves against rising interest rates, explains Stiftung Warentest. In order to find a suitable contract, consumers should make as clear as possible specifications and then examine the offers in peace. The experts in the magazine "Finanztest" summarized the following points: Bauspar sum The amount of the Bauspar sum is contractually agreed. It consists of a home loan and the sum that comes together in the Ansparphase. During this time the consumer pays regular savings rates. When the minimum savings have been reached, the contract is awarded and the saver receives the saved credit. In addition, he can take a home savings loan at the agreed interest rate. Should the money later be used for a real estate purchase, the Bauspar sum should not be higher than 40 percent of the expected purchase price, advises Stiftung Warentest. If it is set too high, the contract becomes too late for rendition. Then savers may need an expensive intermediate loan. Bausparer should therefore pay attention to the time of allotment. Amortization contributionMost bauspar take a loan after the allocation. Its monthly rate should be at most slightly above the savings rate, so the recommendation of the financial experts. Otherwise stand later too little money for the home purchase available. SavingsJe after tariff there is a Regelsparbeitrag. If the agreed saving rate is above this amount, the building society can reject it as a special payment. Then it takes longer than planned to save the necessary credit. Conversely, the building society can demand a back payment, if the savings rate is lower than the Regelsparbeitrag and otherwise terminate.BeratungIn the consultation, customers should remain skeptical and calculate the offers accurately. Because the product testers have had bad experiences here. On behalf of the Stiftung Warentest, interested parties conducted a total of 119 test talks at 16 building societies from June to October 2019. In three-quarters of the cases, the monthly savings rate proposed by the consultants deviated significantly from the collectively agreed standard savings bill. In some cases, customers should also deposit more than the minimum balance. These low-interest contributions usually reduce the loan entitlement, criticize the financial experts. In addition: With every fourth offer the Bauspar sum would have been allocated at least one year too late – in extreme cases, only 15 years after the planned home purchase. With other consultants, the testers were satisfied. For offer and advice taken together, however, they awarded only one provider the grade "good". Four rated them "satisfactory", nine "sufficient" and three "poor". Depending on the distribution channel, a building society offers different tariffs and thus consultations and was therefore examined by two different providers.