It’s soon to be the last moment if you want to reschedule a loan to be repaid by January 31st. This applies, for example. if you have a loan with 2.5% interest or more. Or an interest rate adjustment loan that needs to be refinanced on April 1st.
How much can you save?
It all depends on what the interest rate is on your current loan and how big it is. Loans can currently be converted into new loans with 2% or 1.5% interest rates, and if your home has increased in value at the same time, you may also be able to get a lower contribution rate.
Can the property e.g. assessed 10% higher since you last borrowed, the contribution rate can be reduced by approx. 0.10%, And if you pay extra for interest-only, you can save the surcharge by using the RealWire model for your interest-free. Here, the savings are up to 0.42%, ie a total saving of 0.52% in addition to the interest saving.
For example, a loan of 3 million to 2.5% interest and repayment with a contribution rate of 1.007%, and the property value has increased by 10%, it can be converted into a 1.5% loan with a contribution rate of 0.52% according to client accounts in Totalkredit . An overall change in interest rate and contribution rate of 1.487%.
Taking these costs into account
You can save approx. USD 2,500 per month after tax the first year.
If you have an interest rate adjustment loan that needs to be refinanced on April 1st, you must also decide what you want before January 31st. Here we cannot get you lower interest rates, but we can help you to convert to fixed interest rates and limit the increase in benefits by using the Real Council model.
The new interest rate is currently 0.17%
For example, an F5 loan with no repayment of 3 million, the new interest rate is currently 0.17% and the contribution rate is up to 1.1815%. So your monthly payment will be up to USD 2,405 after tax. Instead, if you change the loan at a fixed interest rate with the Goodbank model, the benefit rises to USD 3,757, but in return you will be able to reduce the debt as the interest rate rises, instead of just getting a higher benefit. If the debt is 3 million, the debt can be reduced by approx. 150,000 kroner. According to Good Finance Danmark’s latest interest rate forecast , it may become relevant within 12 months.
Let’s count on your options. And don’t wait too long as the notice period is close.