Bank Lending Regulations

Yes, we have equity. But that is used up for the kitchen and the tiles, etc. And that also has to be paid "in advance." And why should I "bridge finance" when I have already taken out enough money with the loan to pay for the land including additional costs and also the additional costs for the construction??? Or am I wrong now? That was planned beforehand. And the money is also available. Only the bank does not want to give us the money now because they believe we could finance it from the house sale. But that is not possible because we only get the money when the new house has already been built and then all the invoices are already due... That is why we specifically took out the money.... Did that come across clearly?

You still haven't said anything about your financial broker. Have you already talked to him about it?

Yes, he says he wanted to get in touch with the bank again. He admits that we set up the financing the way I described. But I have been waiting for feedback since Thursday. No idea how much longer I should wait because he only wrote that he is waiting for a response from the bank. This is running horribly.

And is that also reflected in your loan agreement that you received from the bank?
Does it not say that xxx EUR must be provided first before a certain component is paid out?

Is the house already sold? With a notarized signature?

Basically, the bank only works with money that is available. That means: first sell the house, that then becomes equity, then use the equity and the loan. After all, financing is the sum of equity + loan.

However, of course, the contract with the bank can be individually adjusted, as long as both parties agree. This was also offered by the broker.

Perhaps the bank is simply assuming the usual practice, as they do 99% of the time – who knows?!
In any case, you just have to call and clarify the misunderstanding.

It says that such and such a percentage will be paid after the completion of ... But we are building a prefabricated house, where payment is only made when everything is finished, except for unforeseen additional costs and incidental building costs that were not included. And those are supposed to be covered. And there is nothing in it that says we have to pay anything else ourselves beforehand.... Maybe I'm just too stupid to understand all this...sigh