2023-08-28 20:04:00
More comprehensive mandatory advice is needed, Holzmann told Ö1.
A real estate loan is one of the biggest financial decisions in life. However, this cannot be made in a one-hour consultation, as several scenarios have to be thought through. A consultation must therefore last several hours.
In order to reduce the risk associated with a variable-interest loan, consideration might also be given to always granting a loan with a fixed interest rate for the first five or ten years, said Holzmann. There are some states that would do it that way.
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