Many homeowners are annoyed that they did not take their loans until later. After all, mortgage rates have fallen significantly in recent years. Nevertheless, in order to benefit from the current low interest rates, more and more borrowers are seeking to withdraw from their funding by way of legal action.

The banks would have had to stick more to pattern texts

The banks would have had to stick more to pattern texts

This is due to legal errors that the banks have made. Meanwhile, the Federal Court of Justice has confirmed that many of the previously used formulations are not legally permissible. The banks would have had to stick more to pattern texts. Due to the amendments, the withdrawal period for many loan agreements has not yet begun.

Advantage of this fact and want to get out of their contracts is increasing

Advantage of this fact and want to get out of their contracts is increasing

The number of those who take advantage of this fact and want to get out of their contracts is increasing. However, one thing should be noted: the banks will not simply agree to a revocation based on a misconceived cancellation policy. Finally, ending a loan early would result in lower revenues, which could make banks lose money with their loans.

Often have no choice but to visit a specialist lawyer

Often have no choice but to visit a specialist lawyer

Initial feedback from the field shows that banks are reluctant to respond to simple letters and do not agree with them. Consumers who still want to prevail, often have no choice but to visit a specialist lawyer. Whether they then succeed, is also not certain. In addition, there is the risk of having to bear the associated costs themselves – and they can quickly amount to a stately amount.

In addition, borrowers have deliberately opted for their contracts and once agreed with the terms. That the interest rate markets change, is completely normal. If interest rates had increased in the meantime, hardly anyone would insist on an early exit.

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