Construction financing for house building in Brandenburg with difficulties

Another advantage is that with the same rate you can repay more and thus have less remaining debt to refinance at the end of the fixed interest period. This makes the interest rate risk for the 5 years even more manageable.

I had also made a table with Excel back then and roughly calculated how much the interest rate would have to increase in order to catch up on the costs of the longer term with the worse interest rate. I came to about 3.8% for our loan amount (somewhat lower). I then considered it unlikely that the interest rate would rise so drastically in the next 15 years. If an upward trend can be anticipated, one could still react and, for example, take out a building savings contract or something similar.

..or after 10 years check if the interest rate is still that low. Exercise the special termination right and secure long-term again with a new contract. Special termination can also be exercised after 11, 12, 13, 14 years,.

Small update:

In the meantime, an external appraiser has been commissioned by ING to examine the property value/construction costs. Tuesday was the scheduled decision date, then yesterday. Unfortunately, the appraisal is not yet available. Therefore, everything remains open. According to the Interhyp advisor, the appraisers usually confirm the value and thus the loan amount. Overall, the examination is now taking more than THREE weeks.

Unfortunately, I cannot submit the application to Sparkasse Brandenburg as long as ING refuses, because the KfW loan would also be blocked there. This cannot be done in parallel, and thus we are simply losing time. The current offer from Sparkasse expires on Monday.

At Sparkasse Berlin, I had several preliminary talks and had to submit quite a few documents. After initially being told that my wife's fixed-term contract was not a problem, I received a cancellation of the appointment one hour before the consultation because Sparkasse Berlin has generally not been granting loans to people with fixed-term contracts since January.

Thank you for the update. It does indeed seem to be examined much more thoroughly at the moment.

Hello,

I have not read the entire thread. Have you followed up with the [Investitionsbank BR]? Investment banks are usually listed last in the land register and therefore carry the greatest risk. We also had a few problems but then concluded part through the investment bank and subsequently more or less had the money thrown at us by the other banks, as they actually no longer had any risk.