Many loans can be canceled free of charge

If there is such a possibility for consumers to use interest rate development for their own benefit, what does this have to do with the entrepreneurial sphere?

Can an entrepreneur participate in this as well?

Can an entrepreneur participate in this as well?

As usual in life, it depends! First of all, in the case of loans, the statutory right of revocation is reserved for consumers.

In many cases, entrepreneurs have “privately” built / financed their commercial real estate and rented or leased it following their businesses. Sometimes several people join together to form a group of builders and thus support the financing.

These “old” financings now burden the interest rate

These "old" financings now burden the interest rate

You could arrange much better terms today. But banks and savings banks do not dismiss their borrowers so easily from the fixed-rate agreements.

As a glance at the relevant loan agreements can give a first indication, because very often these real estate loans are designed as so-called consumer loans.

If so, then you should look with legal / professional support, the necessarily associated revocation / information

If these do not correspond “100%” to the respective model cancellation policy, this may include a “perpetual right of revocation” for the borrower. This means that he can revoke his loan for many (many) years after the original contract has been concluded.

Such analyzes are usually hair-splitting. Sometimes it depends on single words or the punctuation. Hard to believe, but true to the chagrin of the banks. Example: A date in the cancellation policy that is not held in the order day / month / year, but (modern) the other way around in the following year / month / day, leads to the fact that the consumer is not properly taught.

On this basis, it is possible for the borrower to negotiate new and certainly better interest rates with his house bank or another financing partner.

Granted, not easy! The banks will normally block first. Of many cases, however, I know, a stony, but worthwhile way.