(1) Where the lender has breached their obligation to conduct a creditworthiness assessment, this will have the following effects:
1. any pegged borrowing rate agreed upon in the credit agreement will be reduced to the interest rate prevailing on the capital market for investments in mortgage bonds and public-sector debenture bonds (öffentliche Pfandbriefe), the term of which corresponds to the term for which the borrowing rate has been pegged, and
2. any variable borrowing rate agreed upon in the credit agreement will be reduced to the interest rate prevailing on the market at which European banks grant each other bonds denominating in euros having a term of three months.
The point in time relevant for determining the interest rate prevailing on the market pursuant to sentence 1 is the time of conclusion of the contract and, as the case may be, the respective point in time at which adjustments of the interest rate are contractually agreed. The borrower may terminate the credit agreement without notice at any time; no claim to compensation for early repayment of a loan exists. The lender makes available to the borrower a copy of the contract in which the amendments to the contract have been taken into account that result from sentences 1 to 3. If the credit agreement could have been concluded had the assessment of creditworthiness been duly conducted, sentences 1 to 4 do not apply.
(2) If the borrower is unable to comply with their obligations in connection with the credit agreement as contractually agreed, then the lender cannot assert claims due to breach of duty if such breach of duty is based on a circumstance that would have led to the conclusion of the credit agreement not being permitted had the assessment of creditworthiness been conducted duly and properly.
(3) Subsections (1) and (2) do not apply inasmuch as the deficiency of the creditworthiness assessment is based on the fact that the borrower intentionally or grossly negligently provided to the lender information in the sense of section 505b subsections (1) to (3) that was false or that the borrower withheld such information.