Loans will be revoked until the evening of June 21st
If the borrower revokes his loan, the bank must repay the substantial part of the interim interest paid. The revocation is also possible for already fully repaid or rescheduled loans. In this case, banks must even reimburse forfeiture payments paid by borrowers.
The Bundestag has now begun with the “Law for Legal certainty” the end of the eternal right of withdrawal. Credit agreements from the affected period can only be concluded until 22.06. be revoked at 0:00. The abolition of the perpetual right of revocation was decided in the context of the Act on the Implementation of the Mortgage Credit Directive.
The responsible Federal Ministry of Justice quotes parliamentary secretary of state Ulrich Kelber: “The regulation creates an appropriate balance between the interest of the banking industry and legal certainty and the interests of consumers.” Who wants to revoke his contract, has this three months, which will give us legal certainty. “
This is how borrowers approach a revocation
In the first step, borrowers must check whether their loan agreement is affected by a faulty cancellation policy. For this purpose, a lawyer experienced in these matters can be consulted. Alternatively, consumer centers can examine the contracts for a comparatively low fee. The consumer center Hamburg requires z. B. 70.
In the next step, the remaining debt of the loan to be loaned off must be determined. Very often, the resolution will only be possible with a new loan. Therefore, several tenders should be sought and compared using the same criteria (low interest, free special payments, etc.).
Caution: Borrowers should indicate in the context of the settlement that the loan is required for debt rescheduling in connection with a revocation. In addition, interim worsening of the income situation and impairments of the property must be taken into account otherwise the loan may not be concluded or may only be concluded on significantly different terms.
Is the follow-up financing, it goes to the revocation. This must be declared in writing and the bank or savings bank until 21.06. be delivered. It is strongly recommended to choose a shipping method with proof of delivery (eg registered letter with return receipt).
Banks do not automatically agree
Consumers should not hope for open doors: Stiftung Warentest believes that most banks reject the request: “With almost certain probability, the bank or savings bank will help you out.” In the meantime, you have forfeited your right of revocation and exercised it legally. ”
This is where borrowers can respond once and make it clear that the legal situation is clear. Already with this answer should be pointed to legal steps. These are likely to be necessary: Without legal assistance or even a process banks will agree in the rarest of cases. The time limit for filing a complaint remains until at least the end of 2019.
“Kinked”: criticism of politics
Consumer advocates on the “Law for Legal Certainty” criticize and complain that lawmakers have been bent over towards the interest representatives of the banking industry. In fact, the law hardly differs from industry statements. The latter apparently has high costs in the event that all loans granted before 2010 are threatened with revocation.
From the point of view of the industry, the problem is compounded by the general trend in interest rates. The loans concerned were awarded at considerably higher interest rates than can be achieved today in new customer business. The revocation comes thus from the point of view of the banks of a rescheduling without Vorelflligkeitsentschdigung close.