Wednesday, November 9, 2016

Loan fees: Federal Supreme court overturns fee, for building loans – daily mirror

Savers do not have to pay a fee more if you have a loan to pay. The Federal court of justice (BGH) overturned on Tuesday, the loan fee of two percent, you are at a disadvantage to the customer is inappropriate and therefore ineffective. The reason given was that the fee should cover administrative costs and will thus be “collected for a purely internal activity of the building society,” says Chairman Jürgen Ellenberger. A customer will owe for a loan, however, according to the law, term-dependent interest, the charge will be soft, therefore, from the statutory mission statement.

and So the success of the complaint of the consumer Association of North Rhine-Westphalia against the Bausparkasse Schwäbisch Hall in the last instance. (REF: XI ZR 552/15)

In Altverträgen is not included in the fee

However, the fee is according to the information of Schwäbisch Hall, since 2000, in the contracts. In Altverträgen you can be included. As home loan and savings contracts over the long term, complete, Savers are now calling for may money back. The amounts can be significant, because in the case of a loan amount of, for example, 80,000 euros to 1600 euros were due and the amount of the loan. However, it is now a fight to the limitation of time. Is open, when the three-year limitation period set in motion – with payment of the fee or only now after the Supreme court judgment. Up to the current Supreme court ruling Savers were failed by their actions. Also, the higher regional court of Stuttgart declared the loan fee 2015. Because Savers would have advantages. There is a government support and the loan could, at any time, without default interest to be paid back. The Supreme court saw this is not a justification, because Savers paid for your contract and a completion fee.

Many customers do not take loans even in to claim

However, there will be a dispute between the building societies and their customers at the moment to completely different. Many Savers to take on even more credit but a pay more of their savings rates. The reason is that the building societies earlier have higher interest paid. The lending rates are now higher than at private banks. Building societies terminate therefore, if loans are not requested, although the accumulation phase is over. The higher regional court of Karlsruhe ruled on Tuesday that such dismissals are not justified.

works Like, a Savings and loan?

a Savings and loan is to save money and borrow money. The customer is obliged, a part of the contract sum, the years of self-Deposit. The difference is he can take after a certain time as a loan in the claim, as soon as the contract “allotment is ripe”. In contrast to a normal real estate loans the amount of interest is fixed far in advance and the loan can be prematurely without Extra costs to be paid back. Savers also have benefits through state funding, such as the housing bonus.

How common is a Savings and loan?

According to Figures from the Association of Private building societies gave it to 2015, nearly 30 million bauspar contracts in Germany. In order for a contract to come on every second household at least. 2.7 million contracts were concluded in the past year. Among the twelve private Bausparkassen Schwäbisch Hall, Wüstenrot, and BHW is the largest. In the public sector-eight Country split building societies in the market on a regional basis.

What is the meaning of the Supreme court ruling for affected Savers?

Who has the fee in his contract, does not have to pay more – and who has already paid, get your money back in the best case, of the Bausparkasse. However, such claims become time-barred after a certain time, at the earliest after three years. How it behaves here, needs to clarify the Supreme court likely at a later date. To be on the safe side, all Savers have applied for your loan in 2013 or later, are at the Moment, Bank legal expert, Christian Urban, from the consumer advice centre NRW says. It is unclear how many customers the. In the meantime, there is the loan fee, according to the umbrella organizations, in a single building society. Schwäbisch Hall has abolished according to their own information, 2000. Wüstenrot is offering since October 2013, no rates with the fee. the dpa


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