Hello,
My wife and I are looking to buy an apartment (built later than 1970) in Wiesloch. Both of us have permanent jobs along with the EU Blue card.
We want to jointly finance this apartment and are currently in discussion with our bank on the housing loan.

I would like advice on the following:
1) What are the parameters to judge on which bank to choose?
2) What is the current interest rate available for 5 to 10 years pay off?
3) What are the possibilities of pre closure of loan? 
4) Is it possible to do the survey on our own? What all things should we look at when buying an old apartment?

This apartment is a direct buy so no agent is involved.

Do provide your inputs and share experiences.
Thanks and regards,
Saurabh

time to go to finanzberater

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Dear Saurabh,
Hope I'm not too late to answer your questions.
1. What are the parameters to judge on which bank to choose?
a) Lowest Interest Rate
b) Flexibility in repaying
c) Cost of flexibility
2. What is the current interest rate available for 5 to 10 years pay off?
Generally speaking interest rates are currently low.The Level of interest rate varies from bank to bank and it also depends on how much capital you bring along plus other factors.
3. What are the possibilities of pre closure of loan?
Some banks do allow you to make further contributions per year to pay of your loan faster. But those are limited to certain amounts and do cost a slight percentage (Flexibility).
4. Is it possible to do the survey on our own? What all things should we
look at when buying an old apartment?  
If you realy want to by the property it's reasonable to do a survey. That could also help you determine which extra costs are needed for renovation. Those costs together with the actual purchase can be applied for from a bank.

If you are still looking for further assistance. Simply contact OBN-Expats Financial Advice Germany.
webpage: www.obn-finance.com
eMail: info@obn-finance.com   

Best Regards
OBNadvice