This can help pay off the loan more quickly and therefore save on interest. However, it is important to note that not all loan agreements allow special repayments or can set certain conditions for them. It is advisable to check the exact terms of the loan agreement and find out whether there may be any fees, prepayment penalties or other restrictions associated with it.
 
There are various options for special repayments for real estate loans. Here are some common options:
 
1. One-time special repayment: You can repay a larger amount at once in addition to the regular repayment. This can come from savings, bonus payments or inheritances, for example.
 
2. Annual special repayment: Some loan agreements allow you to make a specific percentage of the loan amount as a special repayment once a year. Banks usually accept up to five percent of the initial loan agreement per year, sometimes more.
 
3. Regular special repayment: In some cases, you can agree with your bank to regularly make additional repayment amounts. This can be done monthly, quarterly or annually.
 
However, a special repayment for a real estate loan does not always automatically make sense. For many house and apartment buyers who were still able to benefit from real estate loans with interest rates of 1-2% per year, the current interest rates for investments are likely to be significantly higher than what they had to pay for their loans from previous years. Borrowers can now take advantage of this difference in interest rates and use the money earmarked for special repayments for a fixed-term deposit or something similar.
 
An example: Anyone who took out a construction loan of 300,000 euros in 2019 at the usual 1.5% interest rate and makes a special repayment of 15,000 euros in 2023 will save around 685 euros in interest over the next three years. In the same period, you could earn 1,631 euros on the fixed-term deposit account at 3.5%. The difference is just under 950 euros.
 
Since the special repayments involve large amounts, it is worth considering the alternative.