Banks for 110% financing

I am in a similar situation and have to send proof every year. I confronted the bank with Stephan's argumentation and this was initially accepted as well. However, they need the proof for an internal risk assessment. After all, they have a right to terminate the contract if there is a significant change in circumstances, and depending on the overall economic situation, it may be appropriate to also terminate a loan even if it is being serviced. You would then, for example, repay it immediately from the savings, and the bank would not have the risk that you use the savings for something else.

So I'm relaxed... the bank is welcome to terminate me for such insolence. I would not provide annual financial statements. They simply don't give a damn. Surely another bank would be found to take over the financing. Gladly even at 3..4% interest. That would be worth it to me!

Now that's what I call entrepreneurial thinking!

The goal of saving about 40,000 in equity in 4 years makes me a bit suspicious.
So, with a monthly income of €5,500, you should be able to save €2,000 or more.
That means €50,000 in 2 years is no problem.

You also have no idea about building.

I always advise young people the following. Buy a suitable plot immediately and pay for it with equity or a small loan.
Location and size should fit.

Then save a little more and build in 3 - 4 years. You can already start, for example, by planting little trees or building a fence.

Those who have some time to build save a lot of money, a great deal of money.
I did it that way too and built without a penny of loan.
Therefore, today I only work 25 hours a week and enjoy my life.

A small example.

Those who build with 36 cm Poroton plan bricks can do a lot by themselves.
You don’t need expensive Styrofoam external insulation, which is rubbish anyway.
Lime cement plaster is cheap and is worlds better.

Homeowners are always amazed when I tell them how much the stones for a whole house cost. €5,000 for an entire house.

A little adhesive, a little mortar, and a few lintels. Any questions?

Roof tiles cost around €1,000 glazed for an entire roof.

You can get windows in good Schüco quality also cheaply. But as I said, it takes time and patience.

You can build expensively but you don’t have to.

I know very good solid construction companies in the WÜ / SW area that also build inexpensively in top quality.

But as I said, first buy a plot.

But that often doesn't work. Many residential areas want the houses to be standing after 2 to 3 years ... ready to move in. You can't just wait around then. And very few have the time and experience to practically build a house themselves.

I have not read through the 29 pages and do not know if it is still current, but:

1. Contact credit brokers and all banks. At least 5 well-prepared offers with at least one broker like Dr. Klein, Interhyp, or similar.

2. Compare the offers

3. If necessary, make an appointment at the consumer protection center and review the offers with a specialist

4. If necessary, negotiate. Present the best offer to the second-best, also to the third-best. Quite often there is still room for improvement, at least in the 0.XX range. You are not supplicants; the banks make good money off you given the amount and the securities (twice civil servant job plus property)

Best regards