Comparison of financing options - loan amount 430K

We have an Allianz representative in our wider circle of acquaintances and spoke with him briefly.

In our case, it mainly concerns renovation/refurbishment and only to a small extent "new construction," and especially in the renovation part, although the structure is already in place, certain things we will only be able to decide when we are practically "in the middle of it." Therefore, our focus was also on a very flexible regional bank.

But I will look into Allianz again, thanks for the tip!

I can only speak about our construction project, but we are very satisfied with [Allianz]. With a suitable loan-to-value ratio, they always paid out money in advance. For the next request, they just wanted invoices to be submitted, which we handled with the previous payment. Everything was totally easy by email. It was processed very quickly and help was always available by phone.

I would definitely finance again with [Allianz].

Our project extends over a longer period, i.e. we need or want 18 months of interest-free commitment time, Allianz only offers 6 months. So we pay huge amounts of commitment interest at 3%. We also need blank disbursements due to own work (materials etc.), which not every bank offers.

You only need the 3% for the portion that has not yet been drawn. That’s not so much anymore.

You also buy materials with an invoice that you can submit. You only need a blank disbursement for undeclared work, or if you wanted to misuse the money, e.g. for buying a car.

I would like to counter this insinuation. If I purchase material on a larger scale, I may need blank payments. Of course, I can submit the invoice afterwards to my financing partner, but I want to have the money paid out partially in advance. The bank from which I have received my (best) offers so far does not make unlimited blank payments either, but without any problem €10,000 or €15,000, and if I then present an invoice for that amount, the same amount is possible again, and so on! I want to clearly distance myself from any suspicion of undeclared work or skimming money for car purchases.

Allianz also goes up to 18 months without provision - as in our case. Also 20 years.

I want to clearly distance myself from illegal work or skimming money for car purchases.

Please excuse me, I did not mean to accuse you of anything. The problem is only the word "Blankoauszahlung," because this word implies exactly that. What you mean is a certain advance payment. With this better choice of words, you’ll also be better received by banks.