Yes, it’s called interest. The bank isn’t going to give you a €250k loan without making any money off it.
Your lender (the bank) should have given you an interest rate on the loan. I’m bad at math so I’m not going to try to figure it out based on the numbers you gave but it’s possible to figure it out.
Krossrunner t1_je9w2jg wrote
Reply to Is it normal to pay an extra 66% of a home loan back to your bank? by TenDogsInATrenchcoat
Yes, it’s called interest. The bank isn’t going to give you a €250k loan without making any money off it.
Your lender (the bank) should have given you an interest rate on the loan. I’m bad at math so I’m not going to try to figure it out based on the numbers you gave but it’s possible to figure it out.
Welcome to adulthood!! :)