Housing Riester: More than 50,000 euro savings

Who builds with Riester, builds cheaper. In the new residential Riester loans to state subsidy, tax benefits and interest savings in individual cases to more than 50,000 euros advantage add up. The financial test has examined the first residential Riester offers.

He builds with Riester, builds cheaper. In the new residential Riester loans to state subsidy, tax benefits and interest savings in individual cases to more than 50,000 euros advantage add up. The financial test has examined the first residential Riester offers and says how much money they are worth.

Actually, quite simply works: Riester loans are ordinary real estate loans to pay installments of principal and interest for the borrower. The conditions are almost the same as for a conventional financing – and yet the difference is large: homeowners get allowances and tax benefits as for a Riester savings contract for the repayment of a loan Riester. The condition is that they have built or bought their homes after 2007 and use it yourself. They must also pay back the loan no later than the 68th birthday.

The financial test has been calculated on the basis of six typical financing examples of how much money save homeowners with a Riester loan compared to a conventional mortgage. Depending on income, age, number of children and funding the transport balance is different. However, in any case: With the Riester house or apartment, the owner is always clearly positive.

In individual cases, more than 50,000 euros savings

The financial test model cases, the benefits until retirement add up to 12600 to 51500 euros. The taxes levied in the retirement age to the funding amounts have already been charged in these totals.

The interest on Riester loans do not have to be high: Lowest provider in the test was Landesbausparkasse (LBS) Baden-Wuerttemberg. With an effective interest rate of only 4.45 percent, their Riester loans in mid-December were even cheaper than a conventional loan at many Internet intermediaries. The best nationwide provider was the alliance with an effective interest rate of 4.5 percent.

The big drawback, however: Riester loans are – yet at least – very rare. Finanztest surveyed 86 providers. Only six providers had a fitting for the financial test model cases offer. Most banks and financial institutions will initially offer no own Riester loans or they plan to launch in the course of the year.

Tips

Promotion. Connect your home financing Riester loans from! but whose interest rate should not be much higher than for a loan without subsidies?

Old contract. Pay for the house purchase no more money in your old Riester savings contract. The repayment of the loan Riester is more profitable.

Provider. Lowest nationwide provider in the test was the alliance, even better was the Riester loans of LBS Baden-Wuerttemberg. but ask at banks and brokerage companies. The number of providers will rise in the coming months.

Combination loans. Riester subsidy is also available for combi loans of building societies, where a building loan is financed with a grace loan. Such contracts are usually more expensive.