Construction financing for house building in Brandenburg with difficulties

That is interesting. The financial advisor told me that ING basically multiplies the property value (which he can see in his system) by 1.3. That would then be the maximum credit limit that is always applied. Possibly there would be an appraisal, but that usually confirms the matter. We will know more next week, but I am also rather skeptical.

At the Volksbank, I contacted the branch directly in the town. If they just want to broker, then I will refrain for now. That does not help me either.

At the Sparkasse, I am curious who will get in touch, Brandenburg or Berlin. I started the inquiry through the Brandenburg branch, but we live in Berlin.

Otherwise, there is still an option to inquire at the DKB. There is a loose contact to someone who works there in construction financing and at least knows the region well. Whether that helps, no idea.

In the next few days we will know more. The fact is that the banks queried so far all evaluate via Sprengnetter. Sparkasse, DKB and others do not do that.

I'm curious who will respond at the Sparkasse, Brandenburg or Berlin. I started the inquiry through the Brandenburg one, but we live in Berlin.

So you can definitely inquire at all Sparkassen nearby. We financed through "3 Sparkassen down the road." Specifically ask Brandenburg and Berlin, and possibly one from the other direction. I don't know your area at all, but where we are, each district or every district-free city has a new Sparkasse. They all operate independently and are competitors with each other. The interest rates and general conditions can differ significantly.

Regarding Schufa, I still believe that our Sparkasse didn't check at all. I wouldn't worry about that. It's normal to obtain several offers for these financing amounts. After all, it's not the 312th credit card.

Schufa probably doesn't matter anyway now. The credit inquiries are listed there now. It does not say whether they were rejected. So whether you go to the Sparkasse today or next week is also irrelevant. If the advisor or later the credit decision-maker looks inside, they will form their own opinion. It COULD be noticed negatively if several other banks have apparently already rejected the plan. I think I would emphasize once more that you have adjusted the plan again before you went to the Sparkasse etc.

Ok, so rather not play with open cards and say that ERGO rejected it because of the property value?

Before any further loan inquiries are recorded in the Schufa, the discussions/consultations must first take place and the offer must be concretely on the table. Condition inquiries are neutral and, as far as I know, remain in the system for about two weeks.

That is interesting. The financial advisor told me that ING generally multiplies the property value (which he can see in his system) by 1.3. That would be the maximum credit limit that is always applied. Possibly there would be an appraisal as well, but this usually confirms the matter. We will know more next week, but I am rather skeptical...
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In the next few days we will know more. The fact is that all banks queried so far assess via Sprengnetter. Sparkasse, DKB and others do not do that.

The factor on the Sprengnetter valuation can also be smaller – I have heard of a range of 1.2 – 1.3. Certainly a consequence/cause of the more restrictive lending. So the air is getting thinner for too much additional hot air in real estate prices.

Ok, so rather not play with an open hand and say that ERGO rejected due to the property value?

Before any further credit inquiries end up in the Schufa, the talks/consultations must first have taken place and the offer must be concretely on the table. Condition inquiries are neutral and, to my knowledge, remain in the system for about two weeks.

I wouldn’t deliberately weaken your position in the talks, but rather strengthen it. From my point of view, under no circumstances mention that you have already received rejections. Go into the conversation and openly say right away that you still have inquiries running with other banks. But subtly and only if it fits the flow of the conversation. The advisor will eventually ask you whether you have an idea regarding the interest rate or other offers.

I also experienced that the bank first wants to know the conditions of your other offers or asks what interest rate you have in mind. Here too, my opinion is: don’t let them take your negotiating position away. I would politely say that you are interested in the lowest possible interest rate, that they are welcome to make you a good offer, and that you would gladly come back to the comparative offers/your ideas.

Local banks in particular have some leeway in the interest rate and after all, you want the lower rate. The most important aspect from my point of view is always to be friendly and understandable but also to convey that you have other offers and the bank is not your last resort.

//edit: since condition inquiries exist, I would rather disregard the Schufa.

I contacted the branch of the Volksbank directly in town. If they only want to broker, I will abstain for now. That doesn’t help me either.

Otherwise, another option would be to inquire at the DKB. There is a loose contact to someone who works in construction financing there and at least knows the region well. Whether that helps, no idea.

Please don’t misunderstand the Volksbank statement, not all Volksbanks are like that. There are Volksbanks that do not finance at all or only broker, some that finance regionally, and some that finance beyond the region.

Regarding the DKB: if you submit an inquiry via the DKB website, you will be forwarded to an advisor at DKB Grund GmbH. This advisor uses the Europace system and is therefore basically a financial intermediary. The DKB itself is also offered, but at the conditions from the Europace system minus the special conditions if you have a DKB account. The DKB was relatively expensive in terms of interest rate (0.45% above ING, already considering the special conditions through the DKB account), and for that reason, we received 3 other financing proposals from the advisor right away.