Loans & loan agreements – revocation of contracts of lbbw possible

A loan or loan revocation at the landesbank baden-wurttemberg is the best solution for many consumers to get rid of bad conditions without having to pay an early repayment penalty.

The cancellation of loans from LBBW

Regardless of whether it is a loan, credit, construction or real estate financing – a revocation with landesbank baden-wurttemberg is made possible for consumers due to faulty or incomplete contracts. The economic advantage compared to a cancellation at LBBW is enormous. Save yourself the early repayment penalty.

Credit and loan agreements, construction financing or real estate financing from LBBW can be revoked

Have you concluded a financing agreement with landesbank baden-wurttemberg (LBBW), for example to finance a property, with which you are no longer satisfied in view of alternative credit offers with low interest rates??

Would you prefer to cancel the old loan and reschedule to a newer cheaper loan?

Or you have come into money and would like to pay off the current loan so that you no longer have to pay the high interest rates?

Then you have probably already noticed that both options are associated with costs. For both a termination, as well as an early redemption banks usually require an early repayment penalty. This may well be in the five-digit range. The banks refer to a loss of interest, which they suffer due to the premature termination of the contractual relationship.

But as a consumer, you are not stuck in a dead end, because there is the possibility of revoking the construction financing with landesbank baden-wurttemberg! How to do it, you can learn here.

Your advantages of revocation at a glance:

  • You do not pay an early repayment penalty
  • You can refinance at favorable conditions
  • The costs are borne by the legal protection insurance
  • We advise you free of charge
  • We check your contract free of charge
  • Top law firm with the most judgments in the area of revocation of real estate loan agreements

How to save the early repayment penalty

Normally you have a 14-day cancellation period when concluding a loan agreement. After this has expired, you can no longer revoke the loan. However, this only applies if the contract is free of errors and contains all mandatory information required by law. Now you might think that the banks have already taken care to do everything right, but this is not so. Very many banks, including landesbank baden-wurttemberg, have submitted and concluded defective loan agreements. In such cases, consumers enjoy a perpetual right of revocation thanks to the revocation joker. And the revocation offers many advantages over a termination or redemption. Because in the case of a loan revocation at the landesbank baden-wurttemberg you do not have to pay the early repayment penalty. If you have already paid them, you can still revoke the loan and get the money refunded.

After revocation with LBBW, you can reschedule to a loan that offers you the currently significantly better interest rates. Here's how to save a lot of money over the following years. In addition, in our opinion, you are entitled to compensation for use. The bank pays you interest for the time it has been able to manage your money. It is also possible to reject a forward loan without paying a non-acceptance fee. As you can see, the loan revocation at landesbank baden-wurttemberg offers you numerous advantages!

However, it is important to note the date on which the contract was concluded. Because can be used the revocation joker with real estate consumer loan agreements, which were concluded after the 10.06.2010, as well as for general consumer loan agreements concluded after january 1, 2010.11.2002 were closed.

What mistakes did LBBW make with loans and credits??

HAHN rechtsanwalte has already won numerous judgments against the landesbank baden-wurttemberg. The errors, due to which a revocation was possible, were of very different nature. To show which mistakes have been made in loan agreements, among others, and how difficult they are for laypersons to recognize, we point out some here:

Note: according to rulings of the german federal court of justice, a revocation instruction must be comprehensive, correct in content, unambiguous and unambiguous for the consumer.

"The revocation instruction used violates already therefore against the clarity requirement in accordance with § 355 paragraph 2. 2 BGB because it contains an extensive section on the legal consequences of revocation in the case of financed transactions, even though the loan agreement is not such a transaction."

So here the revocation was allowed because the consumer was confused by superfluous sections. This is no longer a clear instruction and the requirement for clarity is contradicted.

"If, as here, the parties have not concluded a distance contract, the addition of "but not before the date of conclusion of the loan agreement" obscures the information".

Here, too, a half-sentence ensures that the instruction is considered insufficiently clear. In addition, the court points out that mandatory information is missing: "required mandatory information on the interest to be paid per day in the event of revocation is missing".

ECJ ruling: revocation possible in millions of cases

In march 2020, there was a breakthrough in the revocation of real estate loans with a consumer-friendly ruling by the european court of justice. The ECJ ruled that the cascade reference was not compatible with EU law. This means that all real estate loan contracts which consumers have concluded between 11.06.2010 and the 20.03.Concluded in 2016 can still be revoked. The cascade reference does not inform borrowers about their right of revocation in a clear and concise manner as intended. Instead, they are referred from one provision to the next and have to read through and understand several legal texts in order to exercise their right.

Countless successful revocations at LBBW

Courts have handed down dozens of other consumer-friendly rulings in the case of a loan revocation at landesbank baden-wurttemberg. (many other judgments have also been made against BW bank, which is a dependent institution of landesbank baden-wurttemberg.) for example, the karlsruhe higher regional court ruled that even a loan agreement that has already been processed can still be revoked. The bank was ordered to repay the plaintiff the early repayment penalty plus interest at 5% above the base interest rate. There was also a decision in favor of the consumer by the higher regional court of stuttgart. Besides numerous of the judgements are already legally binding. Even several judgments of the federal court of justice are available, in which it is confirmed that the respective revocation was still possible with LBBW due to faulty contracts. Among other things, the federal court of justice addressed the problem of forfeiture in its rulings. This was because LBBW was of the opinion that the customer had forfeited his right to cancel at a later date by entering into a cancellation agreement. The BGH contradicted that. Neither the payment of the rates, nor the redemption of the credit against payment of a prepayment penalty justify a forfeiture.

For a long time, the banks had resisted a landmark ruling by the federal court of justice (BGH). Several times briefly before appeals and/or. Appeals withdrawn or settlements reached to prevent a consumer-friendly ruling by the BGH.

The landesbank baden-wurttemberg saw itself increasingly cornered and tried to defend itself aggressively. After the regional court and the higher regional court of stuttgart (which are responsible for lawsuits against landesbank baden-wurttemberg) had regularly ruled against the bank, the bank began to sue customers who had declared revocations with the help of a lawyer. Competent are here then the courts at the place of residence of the customers. But the advance backfired. These courts (located across germany) also sided with the consumers and dismissed the bank's lawsuits. Nevertheless, LBBW may have profited from these lost lawsuits. Because it could already be that customers are unsettled by this and refrain from a revocation.

So there are numerous mistakes that banks can make. For laymen, these are hardly recognizable. Therefore, it is advisable to take advantage of the free initial consultation of HAHN rechtsanwalte. We show you the mistakes that the landesbank baden-wurttemberg has made and calculate which repayments you can expect in the event of a revocation of your loan agreement.

Legal protection insurance does NOT cover the costs if the property was new construction at the time the borrower acquired the property (not: time of refinancing). In these cases the so-called. Construction risk exclusion clause, which expressly also the financing of a new building covers. If a rental property was purchased second-hand, the capital investment exclusion clause of the respective legal protection insurer could also intervene. Whether this is the case, examines HAHN attorneys free of charge.

The loans from landesbank baden-wurttemberg

The landesbank baden-wurttemberg also offers personal loans in a cooperation with creditplus bank AG. The BW private credit can thereby over 1.000 to 70.The loan can be taken out for up to EUR 000 and has a term of 12 to 84 months. If you own a house or apartment and need to have something repaired or renovated, or if you simply want to remodel or beautify your home, then the BW modernization loan is the right choice for you. For such a project, you can take out a loan for up to 30.000 euros received. If you are not yet a happy homeowner, but would like to become one, BW bank baufinanzierung can help. A guaranteed fixed interest rate and an individual term make this real estate loan interesting. If you have concluded one of these contracts with LBBW and would like to cancel or redeem it, then it is worthwhile to present the contract to a lawyer who has experience with faulty loan agreements. Because all these loan agreements may have errors and therefore may be revoked. HAHN attorneys advises you with the credit revocation with the landesbank baden-wuerttemberg!