The second act nobody budgets for
A German Zinsbindung of 10 or 15 years feels like forever on signing day — then it ends, and the remaining debt (often still 50–70 % of the original loan) gets repriced at whatever the market charges then. That repricing moment is the Anschlussfinanzierung, and it splits borrowers into two tribes:
- The auto-renewers sign the Prolongation letter their bank sends, at conditions priced for people who don't compare. This is the majority — and the bank's margin plan depends on it.
- The comparers treat renewal as what it economically is: a brand-new financing decision on a six-figure sum, shopped across 450+ banks.
On a €300,000 remaining debt over a 10-year follow-up fix, even a modest rate difference between those two paths compounds to five figures. Same property, same borrower — the only variable is whether anyone checked.
Your renewal timeline (work backwards from the end date)
36–60 months out — know your § 489 date. Ten years after full disbursement you hold a penalty-free exit right (six months' notice) even inside a longer fix. Long-fix holders: put this date in your calendar; it converts you from captive to free agent.
12–36 months out — the forward window. Forward loans lock a follow-up rate years in advance for a lead-time premium. Worth it? Depends on how much renewal-rate risk your budget can absorb — a calculation, not a vibe. This is also when I start watching the market for clients (the Anschlussfinanzierung radar is a standing part of my follow-up care).
6–12 months out — comparison season. Your bank's Prolongation offer arrives somewhere in here. Rule one: never sign it unexamined. Rule two: never reject it before the market comparison either — occasionally it is actually competitive, and then staying is the easy win.
3–6 months out — decision and paperwork. Switching needs a normal underwriting file (income, property, permit — the usual documents); the land charge transfers by assignment. Done with time to spare, the switch is administrative, not dramatic.
Zero preparation, deadline week: you'll sign whatever is on the table. Don't be here.
Prolongation vs. Umschuldung — the honest comparison
| Staying (Prolongation) | Switching (Umschuldung) | |
|---|---|---|
| Effort | One signature | Underwriting file + notary assignment |
| Costs | None | Few hundred € (Grundschuld assignment) |
| Rate | Whatever your bank offers | Best of the market |
| Re-underwriting | Usually light | Full |
| Best when | Your bank matches the market | It doesn't (the common case) |
The strategic use of a market comparison is double: either you switch and bank the difference, or you slide the comparison across the table and your own bank suddenly finds room to match. Both outcomes pay; only ignorance doesn't.
The Munich/expat angle
Renewal hits internationals with a twist: you are re-underwritten as who you are now. Gained permanent residency since buying? Your tier likely improved — claim it. Gone self-employed, or relocated abroad while keeping the Munich flat as a rental? Your best-fit bank pool has shifted, and the old bank's offer definitely didn't shift with it. And if your circumstances weakened, early planning matters even more — strong files can afford deadline pressure; changed files cannot. In every variant, the market comparison runs in English, on your actual current profile, across 450+ banks.
Standing offer, literally
Anschlussfinanzierung is not a one-off product for me — it is the built-in second half of every financing I arrange, and I take over renewals for loans arranged elsewhere just the same. I'm Hendrik Benevides, multi-bank advisor in Munich-Pasing (Postbank Finanzberatung AG), advising in English, German and Portuguese — 5.0★ across 54 verified WhoFinance reviews. If your Zinsbindung ends within the next three years, book the free consultation now — the earlier the comparison starts, the more options exist, and the fee for all of them is the same: zero.