Bank does not accept own contribution

  • Erstellt am 2020-08-04 00:55:28

DerHäuslebauer

2020-08-04 16:29:35
  • #1

Yes, correct. It is a flexible financing that is supposed to be taken over by the bank financing the house so that only one bank appears in the land register. There are still about EUR 45,000 outstanding.

We also had the topic of drawdown on our radar. Since almost all costs after an early move-in are only for materials, one could draw the money promptly and buy materials early, e.g. for the interior finishing in the attic: it doesn’t have to be finished immediately, but if drywall, sockets, lamps etc. are already there it should not be a problem. Same with materials for the pool and garden (except for cement, which is manageable in terms of cost).
 

T_im_Norden

2020-08-04 16:32:45
  • #2
You first have to get to the move-in, and then you need a heating engineer and electrician who cooperate with EL. That will already be difficult enough. In my circle of acquaintances, someone tried to build his house through self-contracting without an architect because he thought he knew better. After 2 years, he still isn’t moved in, has various construction defects, and cannot find any more craftsmen. I am rather skeptical that it will work. I would contact one of the big brokers and lay the facts on the table. They usually know what the banks will agree to and what they won’t.
 

DerHäuslebauer

2020-08-04 16:33:53
  • #3

We asked Interhyp about a year ago (it was not about personal contribution then) and I asked if 400,000 EUR (that was simply our personal limit) would be feasible and they said yes.
 

nordanney

2020-08-04 18:36:02
  • #4
And you think the bank will just pay you tens of thousands of euros like that, although the house is far from finished? Pre-finance with equity and get money from the bank after the construction status.
 

Altai

2020-08-04 18:40:43
  • #5
I once visited the construction site of a self-build house through my site manager. The builders had purchased almost all the materials from a single supplier, and there were detailed instructions provided. These were delivered little by little. When I first heard about it, they were just building the walls. They were non-specialists, at least one academic. Later, I was there again, and the floor was already ready. I think they definitely had a loan as well. Somehow, it seems to work (of course, I was not privy to their financial situation).
 

DerHäuslebauer

2020-08-04 18:56:32
  • #6

I don't know. If I'm doing the last bit of interior work and the garden at the same time, that sounds plausible at first. But I'll be honest: I don't know how and when the bank pays out (of course, that it follows construction phases, but how exactly?). I haven't had this experience.
 

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