The short answer is: Yes.
But here's the longer answer: If you sell your property before the end of the fixed term, you have two options — after all, the bank doesn't want to make a loss either.
- You can pay off the loan in exchange for an early repayment penalty.
- You can arrange a special exchange called a "Pfandtausch" (In the US, this is referred to as a "1031 exchange"). In this case, your loan is transferred to another valuable property.
If this is something you're considering, we're happy to help you out. Just send us a message and we'll get back to you as soon as possible.