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(VFE) the payment for the unscheduled feedback of a loan is called during the interest fixing time. If the contractually agreed upon loan is not yet disbursed, one speaks of a To these the rules of the VFE apply similar.
The VFE results also in the case, in which not the customer, but the bank quits the loan.
In principle the credit institutes are not obligated to take loans back before expiration of the interest fixing time. In justified individual cases the bank of a premature cancelling must agree however. The BGH developed for this a constant iurisdiction (BGH XI ZR 197/96, XI ZR 198/96 XI ZR, XI ZR 27/00). Justified individual cases are e.g. the sale of the real estate and further raising of credit for renovation purposes.
With interest fixing over 10 years, the possibility exists, without quitting VFE with 3-Monatsfrist at expiration of the 10 years.
Further no VFE results with loans with variable interest charges.
Falsely in the Internet gladly with reference to the judgement of the OLG Karlsruhe of 25.6.2001 is kolportiert, a does not result with bank mergers not. This is however only under extremely close conditions the case.
The credit giver can require the loss of interests damage resulting from it ("ยง 490 II S.3 BGB). A damage always develops, if the contractually agreed upon interest rate lies over the current sentence for new lendings. A further damage lies in the margin of the bank which is void for the remaining time. The longer the remaining time up to the end of the interest connection, the more highly precipitates the remuneration.
The BGH decided in a judgement from 30 November 2004 (XI ZR 285/03) that for the computation of the the reinvestment net yields of the capital market statistics of the German Federal Bank are to be consulted.
The computation of the VFE takes place via asset/passive comparison. It is determined, the bank would receive which interest during continuation of the credit agreement. To that one confronts, which interest the bank would receive with a plant of the prematurely paid back amount with a plant in mortgage bonds. The difference is abgezinst financialmathematically and represents the damage (=VFE).
Here all repayment possibilities are to consider (also special repayments) as well as the saved risk and administratives expense of the bank.
A possible Disagio is to be paid back proportionately. The bank may take a handling charge for the premature separation.
With the notice of consumer loans no VFE results.
In the USA it is usual to agree upon contractually a VFE free back number possibility. The banks at the capital market secure the risk of the premature notice (in particular with reductions of the rate of interest). The costs of this safety device increase the building loan interest.
In England variable interest is usual with real estate financings. VFE does not result system-dependently.
In most other countries of the European Union exist legal regulations, which regulate the computation of VFE. These are politically in the sense of the consumer protection as a rule in such a way arranged that a reconciliation of the damage of the bank is not reached.
After an investigation scientifically working Institut for financial services therefore in no country of the euro-area such a high is computed as in Germany.
The treatment of the VFE in Germany takes place in accordance with the usual rules of the general treaty right. Special legal defaults, like in most other European Union countries do not exist. From view of consumer protection organizations a legal regulation is necessary, which limits the height of the VFE.
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