Are you toying with the idea of buying a flat in Berlin? Owning your own four walls in the German capital might actually be within your grasp. All you need is a well-thought-out plan and Berliner Sparkasse at your side – a strong partner offering real estate financing and related advice.
When buying or building a new home, you’d usually take out one or several loans and pay this borrowed capital back each month over many years. Berliner Sparkasse offers an impressive portfolio in this respect, including:
Tip: In addition to loans from financial institutions, you may also be eligible to benefit from government subsidies, such as those provided by KfW Development Bank. We’d be more than happy to advise you on the options available to you.
Your personal circumstances will determine what financing package is right for you. As for your loan repayment schedule, this will be stipulated in the terms of your contract and should be set up in such a way that you’ll always be able to cover the monthly instalments, now and in the future. You shouldn’t forget to factor in all the extra costs associated with buying a property – in other words, any costs not included in the actual purchase price. For example:
Tip: When determining how much you need to borrow, always take the above extra costs into account. Try to contribute at least 20 percent of the amount to be financed from your own capital. You should also be able to use that to cover the extra costs of your purchase. The higher your own contribution, the more favourable your loan’s terms will be in the majority of cases.
You’ll also have to pay interest to the financial institution lending you the money. The amount of interest you’re charged is referred to as the interest rate or borrowing rate. The interest rate depends on how much capital you’ve contributed yourself, your requirements, the loan offer and various other aspects. In this context, you should be aware of the following three interconnected factors:
It’s important to note that most loan agreements will still have an outstanding debt once a fixed rate comes to an end. To pay off the remainder, a follow-up financing plan will then be agreed, which is an additional loan subject to new terms and conditions. You can enter into this kind of plan up to 36 months prior to the end of your fixed rate in order to lock in current interest conditions early on.
Our tip: By opening a home savings account now, you’ll be able to secure a low-interest loan in the future. You’ll also be able to use the amount held in this account for clearing your outstanding debt once your fixed interest rate comes to an end. In light of the current uncertainty in terms of interest rates, an LBS-Bausparen home savings plan is ideal – whether for contributing your own capital when buying a property, paying off a follow-up financing plan or renovating your home at a later date.
If you need financial advice on building, buying or renovating a property, or want to learn more about follow-up financing, the experts at our Berliner Sparkasse Real Estate Centres will be more than happy to help – in English, too! Give us a call on (030) 869 869 06 or make an appointment online on our website.
From your very first consultation to your loan being disbursed, a consistent contact person will guide you through all the steps of buying your property. You’ll also benefit from a quick lending decision and speedy processing.
Berliner Sparkasse offers low-interest loans, public subsidies and property advice in Berlin on the foundations of an equal partnership. Let our expertise put you on the right track to accomplish your real estate vision. We’ll act quickly to fulfil your requirements so that you can realise your dream of owning your own home, minus the financial worries.
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Rely on our expertise for top-notch consultation on real estate purchase and financing. Get in touch with us today for professional assistance on your journey to your dream home!
Tip: Are you thinking about buying a flat or house in Berlin, but don’t know where to start? Are you wondering what kind of property and area you could even afford? Berliner Sparkasse has the answers to these and other questions on your search for real estate in Berlin. We’ll work with you to determine your budget and create a financing plan for your dream home.
Book a personal consultation online or ring our customer service hotline on +49 (0)30 869 869 06. We’re looking forward to hearing from you!
BSK Immobilien GmbH
If you’ve yet to find your perfect home, BSK Immobilien GmbH is sure to have what you’re looking for. Our estate agents know Berlin like the back of their hand and can help you on your search for an apartment, detached house or building plot.
As an estate agency, BSK Immobilien GmbH offers you a vast array of services – from finding you a property to handing over the keys. So, what are you waiting for? Contact our real estate pros today.
You can reach BSK Immobilien GmbH online or via its hotline (030) 869 847 60.
If you need financial advice on building, buying or renovating a property, or want to learn more about follow-up financing, the experts at our Berliner Sparkasse Real Estate Centres will be more than happy to help! Give us a call on (030) 869 869 06 or make an appointment online on our website.
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