Bank wants co-ownership of the property - experiences?

  • Erstellt am 2023-08-10 20:14:43

HilfeHilfe

2023-08-12 06:33:12
  • #1
Simply look for another bank
 

Franzbrot

2023-08-12 09:20:21
  • #2
Since the numbers are interesting to some: the property is worth about €600,000 (according to the bank) and was inherited. It is in my ownership. The house costs another €700,000 including incidental construction costs (rounded up) and I am contributing €410,000 in equity. My wife’s bank assets amount to €25,000. The plan was that I would cover most of the installment (€1,800 in total) and she only a fraction, so basically I pay €1,500 and she €300. If you want to see it that way, like proportional rent. And whether she “finances” my loan with that or currently finances the credit/living standard of our landlord (without acquiring ownership or interest from our current rental apartment) I thought doesn’t really matter in the end. Only that later she live with me for €300 on 180m2 and not just on the small fraction. For €300 you can’t even get a room in a shared apartment here.

I/We find it overall interesting that it is advised against having a marriage contract in this constellation. From the perspective of the financially weaker party this is certainly attractive. But in the event that I now get the loan only if I let her be registered (which currently corresponds to a gift), there will of course have to be arrangements from my point of view. Paying out would probably be possible since I still own properties/real estate abroad that I could sell then (if I want to keep them). Unfortunately, these could not be included as collateral because they are abroad (I don’t quite understand that, but that’s what I was told).

That may not be true love for some, but one should maybe discuss love and its form somewhere else :) And since we are talking about love: many here apparently assume a classic, heterosexual marriage where I am the man who lets the poor woman raise the children and do the cleaning for free so that she ends up with nothing. Without considering that we might both be women, who both could have children and both do the cleaning (which in my observation men can do too – cleaning, and some even raise a child :) ) but one simply has a lot more capital through inheritance.

In some places I formulated unclearly, which raises questions or doubts, so: The bank did not want a new land register entry from us within 24 hours, but a draft transfer agreement. We have now submitted this for the time being. We are now discussing the arrangement. And, which again may seem incredibly unloving to some, I would like to secure this share already. Whether “looking for another bank” is the solution, I don’t know, since after thinking about it longer I can of course understand that banks don’t like such constellations (one person is liable for everything but has nothing – roughly speaking) because in the end the validity/existence of the loan agreement might be questioned. But one can try anyway :)
 

WilderSueden

2023-08-12 09:43:04
  • #3
We have a similar situation here (although with significantly lower numbers). For various reasons, which I do not want to go into now, the entire house belongs to me, my girlfriend pays €300 "warm rent". If you subtract the share of the additional costs, it's almost free. The bank only knows me, but of course knows that we are a household of 3 people. I would recommend you do something similar. Creditworthiness should not be a problem with your equity share. More than that, I cannot recommend that your wife co-sign a loan agreement without being listed in the land register.
 

ypg

2023-08-12 09:47:35
  • #4
Then I don't understand the problem. You will be able to cover the financing of €2100 on your own, right? Then your partner can just take care of the shopping. Or pay the insurances.
 

kbt09

2023-08-12 09:47:57
  • #5
You see, and with these numbers, I already view quite a few things differently.

So it's about a loan of around 300,000 euros for a total project of 1.3 million, if you add it up, meaning equity of 1 million.

Is the partner already your wife or is she supposed to become one? And, just to ask plainly, how high is your income? Can't the installment of 1800 be paid entirely from that? Then there won't be any bank contract with the partner. And what you then agree internally as rent within the relationship is none of the bank's business.
 

Franzbrot

2023-08-12 10:29:03
  • #6


my net income is unfortunately "only" 3700€ and the bank says that I cannot manage the loan or the installment alone with that. Viewed conservatively, of course I have an installment that is more than 1/3 of my income and that apparently is not enough for the bank.
 

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