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Leave or delete the mortgage? This is how owners make the right decisions

detached house

Anyone who has paid off the home loan can save hundreds of euros on the mortgage.

(Photo: imago images/blickwinkel)

Frankfurt Very few real estate owners have paid for their home with their own assets, but financed it with a loan from the bank. Of course, this is not for free: in addition to the interest, many banks require security in the event that the borrower cannot repay the installments, the so-called land charge. This entitles the bank to sell the property in an emergency, i.e. to sell the property to cover outstanding debts if the customer is unable to pay.

When the loan is paid off one day, many property owners want to get rid of their land charge as quickly as possible. This step is not absolutely necessary – and it costs money. Does it therefore make sense to have your land charge deleted? In any case, experts recommend clearing up a few things before deleting them.

The difference between a mortgage and a mortgage

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