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First Interest Rate Increase Regulation for Housing Assistance Loans In force Unlisted

Overview

Jurisdiction
Germany
Topic
-
Instrument type
Regulation
Reference number
wozerhv_1
Valid from
1982-08-26
Valid to
2022-08-31
Modified date
1982-08-25
Listed at
Unlisted draft
Withdrawn at
-
Description
Regulates increased interest rates for construction and annuity loans from federal housing assistance funds granted before 1970, including limits on resulting rent and cost increases.

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Sources

Source URL Crawler Publish date
https://www.gesetze-im-internet.de/wozerhv_1/xml.zip German Federal Law

Logs

Type Status Started at Finished at
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Rule sets

Label Effective
Loans from housing welfare funds 1982-10-01 — 9999-12-31
Applies from milestone:
Application Start (1982-10-01)
Expires at milestone:
-
Conditions:
  • Products contains No Linked Attribute Value “Baudarlehen” “Annuitätsdarlehen”
Loans approved before 1 January 1960 1982-10-01 — 9999-12-31
Applies from milestone:
Application Start (1982-10-01)
Expires at milestone:
-
Conditions:
  • Products contains No Linked Attribute Value “Baudarlehen” “Annuitätsdarlehen”
Loans approved from 1960 to 1969 1982-10-01 — 9999-12-31
Applies from milestone:
Application Start (1982-10-01)
Expires at milestone:
-
Conditions:
  • Products contains No Linked Attribute Value “Baudarlehen” “Annuitätsdarlehen”
Mixed publicly funded housing subject to state-law rules 1982-10-01 — 9999-12-31
Applies from milestone:
Application Start (1982-10-01)
Expires at milestone:
-

No conditions.

Questions this regulation asks

Attributes only this regulation asks about — criteria no general attribute expresses. A company answers each once.

This regulation asks no questions of its own — every condition uses a general attribute.

Obligations

Title Kind Rule set
Interest on loans approved before 1960 Other -
Description:
The loans must, subject to Sections 3 to 5, bear interest at an annual rate of 8 percent.
Frequency:
Continuous
Check frequency:
Continuous
Products/Services:
Construction loans and annuity loans from housing welfare funds approved before 1 January 1960
Checking responsibility:
Loan debtor and loan-administrating body
Check method:
Review of the approval date and application of the prescribed annual interest rate
Rule set:
-
Source reference:
§ 2 Abs. 1
Source excerpt:
Darlehen, die vor dem 1. Januar 1960 bewilligt worden sind, sind vorbehaltlich der §§ 3 bis 5 mit einem Zinssatz von 8 vom Hundert jährlich zu verzinsen.
Interest on loans approved from 1960 to 1969 Other -
Description:
The loans must, subject to Sections 3 to 5, bear interest at an annual rate of 6 percent.
Frequency:
Continuous
Check frequency:
Continuous
Products/Services:
Construction loans and annuity loans from housing welfare funds approved after 31 December 1959 and before 1 January 1970
Checking responsibility:
Loan debtor and loan-administrating body
Check method:
Review of the approval date and application of the prescribed annual interest rate
Rule set:
-
Source reference:
§ 2 Abs. 2
Source excerpt:
Darlehen, die nach dem 31. Dezember 1959, jedoch vor dem 1. Januar 1970 bewilligt worden sind, sind vorbehaltlich der §§ 3 bis 5 mit einem Zinssatz von 6 vom Hundert jährlich zu verzinsen.
Timing of the higher interest rate Other -
Description:
The higher interest rate must be applied from the legally specified date or, where applicable, from the following payment period.
Frequency:
Event-triggered
Check frequency:
Event-triggered
Products/Services:
Dwellings affected by the interest-rate increase
Checking responsibility:
Loan-administrating body
Check method:
Determination of the relevant payment period and application of the applicable start date; where specified subsidies or loans cease, postponement to the next or the subsequent payment period
Rule set:
-
Source reference:
§ 2 Abs. 3
Source excerpt:
Stimmt der Beginn eines neuen Zahlungsabschnittes (§ 18b Abs. 4 des Wohnungsbindungsgesetzes) mit diesen Zeitpunkten nicht überein, beginnt die höhere Verzinsung mit dem darauffolgenden Zahlungsabschnitt.
Limit on the interest-rate increase for rental dwellings Other -
Description:
The interest-rate increase must not exceed the rent-related cap limits, cap amount and customary local rent specified in Section 3.
Frequency:
Continuous
Check frequency:
Continuous
Products/Services:
Dwellings within the meaning of Section 2(3) no. 2, particularly rental dwellings
Checking responsibility:
Loan debtor; assertion in accordance with Section 6
Check method:
Calculation and comparison of the average monthly rent with the cap limits, cap amount and customary local rent
Rule set:
-
Source reference:
§ 3 Abs. 1 Nr. 1
Source excerpt:
Die monatliche Durchschnittsmiete je Quadratmeter Wohnfläche darf nach Abzug des Betriebskostenanteils folgende Beträge nicht übersteigen (Kappungsgrenzen):
Limit for family homes and condominiums Other -
Description:
The additional monthly burden resulting from the interest-rate increase must not exceed 100 Deutsche Mark per dwelling.
Frequency:
Continuous
Check frequency:
Continuous
Products/Services:
Family homes and condominiums within the meaning of Section 2(3) no. 1
Checking responsibility:
Loan debtor and loan-administrating body
Check method:
Calculation of the additional monthly burden per dwelling and comparison with the maximum amount of 100 Deutsche Mark
Rule set:
-
Source reference:
§ 4
Source excerpt:
ist sie so begrenzt, daß die monatliche Mehrbelastung 100 Deutsche Mark je Wohnung nicht übersteigt.
Assertion of objections Other -
Description:
Objections to the effects of the interest-rate increase must be asserted within six months after receipt of the notice.
Frequency:
Event-triggered
Check frequency:
Event-triggered
Products/Services:
Loan debtors affected by an interest-rate increase under this Regulation
Checking responsibility:
Loan debtor; the loan-administrating body must draw attention to the time limit
Check method:
Submission of objections within six months after receipt of the notice of the interest-rate increase
Rule set:
-
Source reference:
§ 6
Source excerpt:
Einwendungen gegen die Auswirkungen der Zinserhöhung nach dieser Verordnung können vom Darlehnsschuldner nur innerhalb von sechs Monaten seit Zugang der Mitteilung über die Zinserhöhung geltend gemacht werden.
Notice of the exclusion period Other -
Description:
The loan-administrating body must inform the loan debtor in the notice of the higher interest rate about the six-month exclusion period.
Frequency:
Event-triggered
Check frequency:
Event-triggered
Products/Services:
Notices of the higher interest rate
Checking responsibility:
Loan-administrating body
Check method:
Review of the notice to ensure that it includes a reference to the exclusion period
Rule set:
-
Source reference:
§ 6
Source excerpt:
Die darlehnsverwaltende Stelle hat den Darlehnsschuldner in der Mitteilung über die Höherverzinsung auf die Ausschlußfrist hinzuweisen.

Measures

No measures.

Penalties

No penalties.

Milestones

Date Type Description
1982-10-01 Application Start Start of the higher interest rate for family homes and certain condominiums
Source reference:
§ 2 Abs. 3 Nr. 1
Source excerpt:
am 1. Oktober 1982
1983-04-01 Application Start Start of the higher interest rate for all other dwellings, including second dwellings in family homes
Source reference:
§ 2 Abs. 3 Nr. 2
Source excerpt:
am 1. April 1983

Linked regulations

No linked regulations.