Vorfälligkeitsregelung

Vorfälligkeitsregelung refers to the clauses within a loan agreement, particularly mortgages, that govern the early repayment of the outstanding principal. This provision allows the borrower to pay back the loan or a portion of it before the scheduled maturity date.

Typically, when a borrower prepays a loan, the lender incurs a loss of anticipated interest income. The Vorfälligkeitsregelung specifies whether the borrower is permitted to make such early payments and, if so, under what conditions. It often outlines a prepayment penalty, a fee charged by the lender to compensate for the lost interest. The calculation of this penalty can vary, sometimes based on a fixed percentage of the prepaid amount, or on the difference between the original loan interest rate and the current market interest rate for comparable loans.

There are specific circumstances where a borrower may be legally entitled to repay a mortgage early without penalty, even if the contract doesn't explicitly allow for it. These exceptions are often stipulated by law and can include situations such as the sale of the mortgaged property due to divorce, unemployment, or the death of a borrower. The exact regulations and consumer protection laws regarding Vorfälligkeitsregelung differ by country and jurisdiction. It is advisable for borrowers to carefully review their loan agreement and consult with their lender or a financial advisor to understand the specific terms and implications of early repayment.