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The maxibank and your property
maxibank specifies the interest rate at which a large number of European credit institutions jointly issue debt securities with a short maturity. Credit institutions that stock up at other banks can borrow this capital from third parties again. The euro in this context is the purchase price that the bank pays for short-term debt. At many banks, funds are provided in the form of mortgages.
An important decision of the mortgage borrower (the one with a mortgage lender who has a mortgage lock) is selecting the correct fixed rate period. This allows a very different period of time for most banks: from variable to up to 30 years fixed interest rate. If you choose to subscribe for a short-term debt or mortgage, the interest payable will often be in step with the euro market interest rate.
If the maxibank increases, the interest payment increases and vice versa. If you decide to close a variable rate property, you must pay the maxibank interest (or the monthly or quarterly maxibank) plus a lump sum surcharge, eg maxibank plus 1%, to the buyer. For countries outside the euro zone, such as the United States or the United Kingdom, it is not the euro but LIBOR interest rates that are the key interest rate.
The current Libor interest rates can be found here: for The Libor interest rates. Variable or fixed mortgage interest? The decision for variable mortgage rate depends on many influences. The most important point here is the question of whether you can or want to absorb large fluctuations in the mortgage interest paid. The graphics page of the maxibank on this website shows that there are big differences.
If you want to prevent such fluctuations, then floating rate interest rates are nothing more. for her. In the past, mortgage creditors, who always hold variable rate interest rates, have so far favored over those who prefer fixed interest rates. Because the gap between floating rate and fixed rate has been small in recent years, many people today (rightly) opt for a longer fixed interest rate period.