Stiftung Warentest has examined 20 building societies in the latest issue of Finanztest (02/2015). The test is catastrophic for four building societies, because they are poor from the perspective of the experts. Advisory errors and bad offers can cost customers several thousand euros, according to Finanztest.
In the current building savings test 2015 by Stiftung Warentest can convince only a few providers, even if none of the audited companies “very good” . With the LBS Baden-Württemberg, the Wüstenrot and the LBS Ost, only three building societies receive a “good” financial test verdict . Above all, the focus on customer requirements and the cost of financing, but also the overall quality of the offer have convinced the experts. The test results are quite different for the providers LBS West, Aachener, Deutsche Bank Bauspar and LBS Rheinland-Pfalz. They are only “deficient” and therefore fail in the test.
Bausparkassen in the test: Many mistakes in the consultation
According to the financial test, one of the biggest errors in the consulting process is the fact that many test customers were selling too high a Bauspar during the consultation. This would have meant that the Bauspar contract would not have been ripened by the intended date. An excessively high repayment installment for the repayment of the building loan was also criticized by the experts.
Despite the shortcomings, the Stiftung Warentest comes to the conclusion that “the building societies today better advise than in previous investigations.” However, this is only a small consolation, if the offer is good. To prevent this, Finanztest recommends preparing thoroughly for the consultation . Because despite the mixed results, a home savings contract for the testers is still a meaningful home loan financing, if interested in the medium to long term to build a house or buy.