A mortgage is the stepping stone customers take to own their very own dream property. It allows them to finance a massive purchase with repayment options that stretch over a few decades. With a mortgage, the security is the property itself, and the failure to pay can cause repossession of the property. With Deutsche Bank Mortgages, customers have the opportunity to budget for their mortgages safely and securely. The application process requires full disclosure from customers to ensure they are in a position to pay their finance. With this review, we have a look at how these mortgages compare to their competitors.
A Brief History of Deutsche Bank
Although Deutsche Bank is considered fairly modern in terms of the European big banks, it started at a time where banking played a big role in the German economy. The bank opened doors just before the turn of the century and provided banking services on a global scale right off the bat. It had offices in London, Hamburg, Yokohama, Shanghai, and Bremen.
After the first World War, Germany focused on certain industries such as electrical engineering, iron, and steel industries. Their skills were crucial in the repair of German infrastructure after WWI. WWII soon followed and left Germany with a dark scar as well as more economic damage. Deutsche Bank’s role during the Third Reich came under scrutiny postwar, and the reparations soon followed.
Deutsche Bank managed to once again reclaim its good reputation and managed to further their global expansion. On the home front, things were getting tough after the economic collapse in 2008. The bank is now finally in a position where it operates at a profit again, and cutbacks are stalled for the time being. The bank is looking forward to a period of growth.
For a full review on Deutsche Bank, read here.
What to Look For in a Good Mortgage Loan
Although mortgages all seem similar, customers need to choose the option that suits their individual needs the best. They also need to take into consideration the various phases of property ownership, for instance:
- First Time Buyers
- Property Purchasing for Investment Purposes
- Building Loans
Good loans provide customers with flexibility to choose a term option that is best suited to their needs, within the agreeable parameters. Furthermore, the credit process needs to be fair and customers should have access to competitive interest rates.
The finance should be structured in a way that allows the customer to pay off the loan within the agreed period. This is also why it’s important to apply for finance with an institution that complies with regulations.
Finally, mortgages should encourage clients to pay off their debt as soon as they are able. Loans that encourage early settlement are far more ideal than those that penalize customers for doing so.
Deutsche Bank Mortgages Product Offerings
This finance is suitable for those who wish to fund a project of their dreams. With this loan, customers design the property and choose their own fittings and finishes. The bank then merely finances a portion of the loan once all the requirements are met.
- This loan type allows customers a repayment period of up to 30 years.
- Furthermore, customers benefit from competitive rates.
- Customers are required to fund at least 50% of the cost out of their own pockets.
- The loan approval is subject to credit conditions.
- Also, customers are required to familiarize themselves with the cost of credit. There are additional costs that need to be considered as well.
- Finally, customers can apply for this loan type in the branch.
This loan type is specifically designed for families and ensure that their needs are met in terms of finding finance for their perfect property. Furthermore, the finance combines home financing with building savings for the ideal product.
- The loan type is long-term and secure in planning.
- Also, customers can apply for the finance by appointment or online.
- Customers benefit from a 250 euro bonus per child, with a maximum of two children. This bonus is once-off.
- Furthermore, customers are able to settle their finance at any time without having to worry about penalty interest.
- The loan allows customers the option to change their repayment rate twice during the fixed term period.
- Furthermore, the fixed rate portion of the bond protects customers against rising interest rates.
- Customers benefit from the State Housing Riester Promotion.
- Finally, customers receive competent risk management advice.
Customers who are concerned about the environment will find this type of finance suitable. Furthermore, the finance is suitable for energy-efficient construction or renovation.
- Customers enjoy repayment allowances of between EUR 15,000 and EUR 27,500.
- The loan type offers a combination of mortgage financing and KfW loans.
- The application is done through the branch or online.
This option is both affordable and provides a flexible finance option.
- Customers have access to top benefits and offers throughout the duration of the loan.
- Furthermore, the loan type offers long-term security for their planning.
- This loan combines pre-financing and a building savings agreement.
- Also, customers have access to attractive fixed interest rates.
- They are able to select the financing term required.
- Customers can also request to loan rates to remain the same over the entire term.
- Finally, customers can pay additional funds into their loan or settle their loan at any time.
This type of finance provides state support regardless of the applicant’s income. Furthermore, attractive control benefits are possible.
- Customers benefit from long-term interest rates and planning security.
- Furthermore, customers enjoy top benefits over the entire term.
- The state funds reduce the customer’s own monthly payments over the entire term.
- Also, it promotes the repayment of the loan.
- Customers enjoy the protection against rising interest rates through fixed interest rates over the entire loan term.
- Finally, customers who wish to make additional payments or settle their finance early have that option free of additional charges.
This loan type is the precursor to taking up finance in the future. Furthermore, it provides customers with flexibility for a 4-year period.
- Customers enjoy early interest rate protection. It secures the current favorable conditions.
- Also, this loan type provides uncomplicated processing.
- Furthermore, customers also enjoy planning security.
- There are different interest rates, maturities, and repayment options.
- Customers also have access to an extensive design room.
- Finally, there are finance solutions on the basis of detailed advice.
This option offers customers top target interest rates for future financing. Furthermore, customers enjoy flexibility in allocation.
- Customers enjoy the opportunity to repay their loan without having to worry about early settlement charges.
- This option has both state support and youth bonus options available.
- Finally, this loan type application is by appointment only.
Customers who go with this option enjoy an attractive premium system. Furthermore, state support and youth bonus options are possible. Finally, customers enjoy free use of the savings account.
Conveyor Loom Flex
This loan option provides customers with finance for their ideal home, with a little help from the state as well.
- Customers have access to attractive control benefits.
- Furthermore, customers benefit from reduced monthly contributions thanks to the Riester allowance.
- Finally, the loan type offers a favorable interest rate for financing.
Insurance is a vital part of owning a property. Find out what Deutsche Bank has to offer here.
What We Like About Deutsche Bank Mortgages
These loans are packed with benefits and customers have a variety of options to choose from. there are loan types suitable for every phase of the home owner’s journey, and customers benefit from great loan packages.
Customers are able to determine the term of their loan within the parameters of regulations. This allows them to consider the affordability of the loan first and foremost. Deutsche Bank aims to provide customers with simple finance solutions in order for them to focus on what is important in life.
As far as interest rates go, Deutsche Bank has the upper hand. Not only do they provide their customers with favorable rates, they also give them the option of a fixed or variable rate.
Finally, customers are given the opportunity to repay the loan early without having to worry about paying an early settlement fee.
What We Don’t Like About the Deutsche Bank Mortgages
The loan options are a little repetitive, however, are packaged as different products. That being said, that is the worst thing about these loans. The loans are perfect for those who wish to take on good finance from a reputable institution.
For other finance options from Deutsche Bank, read here.
Critical Reviews Rating Mortgages – 10 of 10
A perfect ten on the mortgage landscape isn’t always possible, however, with the selection offered by Deutsche Bank, it’s hard not to be impressed. The loan types provide customers with a sound financial foundation for their dream home. The loan types encourage clients to seek early settlement as there is no penalty for this.
Finally, the building loan options and competitive interest rates seal the rating for the German banking behemoth. Deutsche Bank Mortgages deserves a perfect score.