Month: February 2020

Dental implants are very expensive and are rarely covered by health insurance. This often only covers the costs if the teeth were damaged by an accident and have to be replaced as a result.

Dental implants have many advantages because they guarantee high wearing comfort, look like real teeth and are very long-lasting. Few people can afford dental implants today, as these often cost just under 2,000 USD each. In such cases, a credit for dental implants helps so that even a normal earner can afford this “luxury”.

Where should I apply for a loan?

It is also important to compare offers with a loan for dental implants. There are different ways to apply for a loan. The first thing you can do is apply for a loan from the dentist. Today, a lot of dentists offer this option because they know that their patients don’t have that much money. The doctors work with a bank that grants the loan. The loan amount is not transferred to the patient’s account, but directly to the dentist. The bank checks the patient’s creditworthiness before the loan is granted.

Such offers seem safe and convenient, but are often very expensive because of the high interest rates. A conversation with his bank is also worthwhile. If it is a small amount that is needed, a dental implant loan can be quite cheap. Here too, the bank checks the creditworthiness and only then approves a loan. A third option is on the Internet to apply for the loan. The lengthy processes often do not apply here, since everything can be applied for from home. Within a short time, the applicant learns whether he receives the credit for dental implants or whether his application is rejected.

Keep your eyes open when comparing credit

A credit comparison should always be made, especially if money is to be saved. Not every loan includes the same interest or processing fees. A comparison can therefore be worthwhile in order to obtain favorable interest rates. A cost estimate is important so that the exact loan amount is known. This allows different offers to be compared with one another and thus to find out how high the loan really is and how long the term is.

If you have not used your building loan in full, you can return it symbolically, unless otherwise contractually agreed. In other words, the rest of the budget remains with the bank. Do not exhaust your real estate loan entirely, but the bank will miss interest. To compensate for this loss, she is demanding non-acceptance compensation. It is calculated on the basis of the outstanding loan amount and the current building interest.

What options do I have if the building loan has not been exhausted?

First of all, you should be sure that you no longer need the rest of the loan. So check whether all bills have been paid and that no more claims are to be expected. You now have three options for getting rid of the undrawn loan.

1. Do not use the rest of the loan and pay a non-acceptance fee unless you have a contractual agreement with the bank.
2. You have contractually agreed that only 90 to 95 percent of the loan amount must be used. You can return the remaining amount free of charge.
3. You will receive the money at your disposal from the bank when the new building is finished.

You are on the safe side if you already make arrangements with your bank when the mortgage is concluded when your loan is not completely needed. If you have not stipulated any contractual clauses, non-acceptance compensation will apply or you will be dependent on the goodwill of the bank.

Pay non-purchase compensation

If you have not made an agreement with the bank that you can return the remaining debt in the amount of X euros, a non-acceptance fee is usually incurred. It is calculated on the basis of the remaining debt and the current building interest. An example: You still have 20,000 euros left, the current building rates are 1.2 percent. Then you pay a non-acceptance fee of 240 euros.

You can return 5-10%

Variant two requires a contractual clause. You should therefore agree a flexible amount with the bank before you conclude the construction loan, which you can return without compensation. Banks are often willing to see between five and ten percent of the loan amount as flexible. If your remaining amount is within this range, you do not pay any non-purchase compensation.

Remaining loans at your free disposal

You can also use the unused money after the completion of the house for free, provided that you have contractually agreed in advance. Since the new building of the bank serves as security, there is no need for an invoice to get the remaining amount. It is also advisable to invest the unused loan as a special repayment in the repayment of the mortgage. Please note the lender’s special repayment guidelines. Often you can only make a special repayment one year after payment of the full amount. If you want to return the rest of the loan without a contractual agreement, this is also possible. However, the said non-acceptance compensation is then due.

Special requests in the contract usually go hand in hand with a higher interest rate. So if you plan a financial buffer in your mortgage, you may not need the loan entirely. If you then have a clause in the contract to be able to return the undrawn loan, this can mean a higher interest rate for your mortgage. Nevertheless, you should plan with a buffer, as there may be unforeseen higher construction costs for a new building at any time. If, on the other hand, you calculate too little to use up the entire loan, additional financing may be necessary. Negotiations with the bank are difficult.

Why the building loan was not exhausted

When you build or buy a house, you usually take out a loan. If you buy a house that has already been built, you will receive the total loan amount. When building a house, on the other hand, the sum is made available to you in parts. Submit an invoice after each construction phase. The bank transfers the money to you or directly to the construction company to pay the bill. As unforeseen events can occur during a construction phase and construction financing cannot be calculated exactly, you may have raised more money than required. This leaves a residual amount of unused construction loan at the end. As long as you do not use the full amount of the loan, commitment interest will apply to the bank providing you with the amount. In order to save interest, it is in your interest to call up the entire loan amount as soon as possible.