Construction financing through intermediaries or local banks

How can it be that d

We took out a variable loan at 1.79% with Sparkasse in January, which would have cost 2.2% via Check24. We got our total financing two weeks ago at 1.67% for 15 years, whereas via Check24 it was about 1.93%. Also, a loan requested one year ago at Interhyp was higher than that of Deutsche Bank (1.17 vs. 1.4%).
My conclusion for the Dresden area: it is significantly cheaper directly at the bank.

Variable loan? Does that mean the interest rate can change during the term? :0

How can it be that there are still such good offers? Does the Interhyp chart not fit?

We always had by far the best offer at our house bank and also took out our loan there.

1.14% on 10Y did you currently find where? :O

No longer available, conditions have also risen significantly here over the past weeks.

We also always had by far the best offer from our house bank and took out our loan there.

Which house bank do you have? Over the past 10 years, I have not received an offer from my house banks that was even remotely competitive. I wish for a house bank that is clever and offers good solutions. Unfortunately, so far in vain.

Which main bank do you have? Over the last 10 years, I have not received a single offer from my main banks that was even remotely competitive. I wish for a main bank that is clever and offers good solutions. Unfortunately, so far in vain.

BW Bank

The property we withdrew from was at 1.02% in September 2021 and our current one is at 1.42% from February 2022 with about 90% loan-to-value.

Platforms through intermediaries have a small disadvantage that should not be concealed. The loan-to-value ratios of the properties can, but do not have to be identical to those of the bank. Especially in the current times, the loan amounts are being pushed to the limit. If the loan-to-value ratio is assessed slightly worse by the bank, i.e. after the application and during the bank’s review, then unfortunately the interest rate may be worse than the one quoted in the offer. As a rule, this is not a problem because the intermediary/advisor can make adjustments, but currently the review sometimes takes place with several weeks delay. Changing the application can quickly lead to changed conditions. You are somewhat stuck in a trap and have to hope that the values also match the bank’s.

not quite right.

For the first financing (purchase/new construction), the loan-to-value ratio does not matter for the conditions; instead, the purchase price or construction costs matter. The loan-to-value ratio only decides whether the bank approves it or not! (If approved, then at the conditions you have determined.)

I recently had a case:
Land + construction costs just under €900,000
Financing: €600,000 (thus 66.66% utilization for the conditions = condition was 70%)
The client came to me because another bank rejected it (very expensive region!!! and land very expensive!)
So we arranged the financing where the bank allowed us a greater deviation in the value.
In the end, the bank approved the €600,000 (the house was valued by an appraiser at €520,000).
So if you go by the value, we financed 115%.
But the client received 70% conditions in the contract.

Banks only change the interest rates on follow-up financing, because there the condition ALWAYS depends on the value of the property, not the purchase price or construction costs (okay, some banks still use the purchase price if it was higher than the appraisal, but those are rather exceptions in the market).

BW Bank The house we withdrew from had an interest rate of 1.02% in September 2021 and our current one has 1.42% from February 2022 at about 90% loan-to-value

Beginning of February SWAP EUR for 10 years: 0.49% currently: 1.19% so there is a 0.70% interest rate difference... and at some banks, you can backdate the conditions up to 7 days (one week), meaning that at some banks, you could still book the loan with a cheaper base interest rate on 08/09.02...