CatherineLeB

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About CatherineLeB

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  • Location Düsseldorf
  • Nationality British/Australian
  1. Do I have to pay out the interest on my fixed interest mortgage?

    I had the loan for 10 years already, but I signed up for a new interest rate. I didn't understand at the time that that meant I was locked in for 10 years again.   I don't think the new buyers would take over my credit because interest rates are lower now...   I am wondering if I can get a special cancelation right because I am no longer in Germany...
  2. I am considering selling my German apartment as I am now living overseas. It's currently rented, the tenant may want to buy it. I now can't even visit it due to COVID. The bank (ING Diba) have told me I have to pay out the interest owed for the remainder of the fixed interest period if I sell. I have owned the place since 2007 and entered into a second fixed rate interest period not realising the consequences of this if I sold.   I read online that you can have a Sonderkuendigungsrecht (sp?) or special cancellation right in certain circumstances, the example given was that the person got a job in another town.   Has anyone done this successfully? I really don't want to pay thousands of euros I didn't realise I would owe if it is avoidable.   Thanks!