Construction financing through intermediaries or local banks

We do have a lot of equity and a very good income situation, but I had also expected significantly worse conditions based on the reports here...

Perhaps one more tip: Almost all brokers and many banks (see Wiki quote below), in our case Dr. Klein, Baufi24 and others use the same portal Europace. This is the bank playground where every bank/broker can connect via a software interface and query the banks' offers. After a while, you notice this because the same things are always asked by the brokers in the same order...
When a broker requests an offer and sends the customer's data to the offering bank, that bank naturally receives the address, email, and similar information. The offering bank then checks its customer database, and if the address is already listed as a customer, the broker no longer gets paid.

Wiki entry:
"Europace is an established electronic marketplace in Germany for handling the conclusion of financial service products between financial sales organizations on one side and credit institutions as well as insurance companies on the other side. The most important product category on the marketplace is private real estate financing. Additionally, installment loans, home savings contracts, checking accounts, and financing-related insurances are traded via the marketplace. Europace's pure marketplace function is complemented by a software solution offered as application service providing for the financial consulting of customers and the processing of loan transactions.

Users of the marketplace include, for example, financial sales organizations such as Swiss Life Select, Bonnfinanz, Dr. Klein & Co. AG and credit institutions DKB, Deutsche Postbank, SEB, various PSD banks (including PSD Bank Köln), the home savings banks Alte Leipziger, BHW, Deutscher Ring, BSQ Bauspar and various insurance companies."
Hyponex will not be able to do without Europace either... ;-)

A toast to capitalism :) And: A knave who thinks evil of it...

One more addition: The interest rates of the offers that your bank / your broker gives you are NEVER the interest rates that will ultimately be presented to you at the contract signing. Because: The value of your planned desired house and various other parameters will later be additionally taken into account by the bank when you want to get serious. Usually, the interest rate suddenly becomes higher when the "contract confirmation from above" comes.

One more addition: The interest rates of the offers your bank / your broker gives you are NEVER the interest rates that will ultimately be presented to you at the time of signing the contract. Because: The value of your planned desired house and various other parameters will be additionally taken into account by the bank later when you want to get serious. Usually, the interest rate suddenly gets higher when the "contract confirmation from above" comes.

It was not like that for me.
The interest rate from the first offer could be maintained or even slightly improved through renegotiation with a comparison offer.

Maybe a tip: Almost all brokers and many banks (see Wiki quote below), in our case Dr. Klein, Baufi24 and others, use the same portal Europace. This is the banking playground where every bank/broker can connect via software interface and request offers from the banks. You notice after a while that the same things are requested by the brokers in the same order... When a broker requests an offer and sends the customer’s data to the offering bank, the bank of course receives address, email, and similar information. The offering bank then checks its customer database and if the address is already listed as a customer, the broker no longer gets paid.

Wiki entry: "Europace is an established electronic marketplace in Germany for handling the conclusion of financial service products between financial distributors on one side and credit institutions as well as insurance companies on the other. The most important product category on the marketplace is private real estate financing. In addition, installment loans, home savings contracts, checking accounts, and financing-related insurance are traded via the marketplace. The pure marketplace function of Europace is supplemented by software offered as Application Service Providing for financial customer consulting and processing of credit transactions.

Users of the marketplace include, for example, the financial distributors Swiss Life Select, Bonnfinanz, Dr. Klein & Co. AG and the credit institutions DKB, Deutsche Postbank, SEB, various PSD banks (including PSD Bank Köln), the home loan savings banks Alte Leipziger, BHW, Deutscher Ring, BSQ Bauspar, and various insurance companies."

Hooray for capitalism :) And: A rogue is he who thinks ill of it...

um.... well, if you create an offer for the customer via Europace, the bank does not get any data... ONLY when the customer decides to accept the offer. Then you basically “book” it, and at that moment the data is transmitted to the bank... not before!

and how current what you describe here is is shown by my old employer, PSD Bank Köln (they have been called PSD Bank WEST for 2 years now!)

and by the way, there are other platforms besides Europace...
and Europace also exists in so many “sub-variants,” for example, the savings banks (Sparkassen) have created their own platform for themselves, the cooperative banks too, and so on and so forth...

just as info


just fill out the self-disclosure form with me, then I can tell you on Monday if it can be done better or not. If not, then quickly sign with your house bank ;)

One more addition: The interest rates of the offers your bank / your broker gives you are NEVER the interest rates that are ultimately presented to you at the contract signing. Because: The value of your planned desired house and various other parameters are additionally taken into account by the bank later when you want to get serious. Usually, the interest rate is suddenly higher when the "contract confirmation from above" comes.

nah, I wouldn’t sign like that either...

so as a broker, I can initially work with the information the customer provides me.

if with his information I get offer A and he says he wants it,
then I say: OK, this bank needs the following documents

based on the documents I can determine if the information is correct... if there are discrepancies here and bank A, for example, no longer fits (debt service is not given, because the customer earns 3000€ but stated 3250€, due to the 13th salary, which the bank does not consider as an example)
then this can happen.

I always say, the better the input, the better the result (probability that the offer can actually be maintained)

and if a customer signs an application with an interest rate of 1.25%, then at the end there is either the 1.25% or a rejection (purchase/building)

with follow-up financing changes can of course occur if, for example, you applied with a 60% offer, but the property valuation then results in a loan-to-value ratio of 70% (thus a different interest rate!)

There are people who say: I always do it alone, never through a broker, don’t want them to get 3000€ commission (as an example!)
I always say: no problem at all, everyone should decide for themselves.

BUT if I can then offer them 0.10-0.20% better and they can save several thousand euros because of it, shouldn’t they not care how much money I get for my work, or?

It’s only about whether it’s cheaper or not.
If not, then you say: “Congratulations that you have such a good offer, take it!”

That way the person does not suffer any disadvantage if they compare, but the benefits can have a strong financial impact!