Cooperative banks, such as Volks-, Raiffeisen, and Sparda banks, have been instructed by the Federal Supreme Court to reimburse borrowers for early repayment penalties due to insufficient information in loan agreements.

Borrowers who have paid prepayment penalties in 2021 are advised to take prompt action, as their claims may become time-barred by December 31, 2024. It is crucial for these borrowers to take proactive steps, as simply asserting a claim will not be enough.

Experts suggest that individuals have their cases reviewed to confirm their entitlement and identify any potential calculation errors. For loans related to the purchase of existing properties for personal use, private legal expenses insurance may cover the costs of legal advice. Many providers offer an initial assessment free of charge.