Construction financing through intermediaries or local banks

and then we have the difference, which is made in the branch, and not via the portal ;)))

as I said, in the branch the banks can make an offer based on the loan-to-value ratio (but they don’t have to... but some do) via the portal the conditions are no longer changed, it’s only about approval or rejection.

PS. if you had the offer with 1.40%, you could have said:
"I have a similar offer elsewhere, but since I already financed a property through you, I would also like to do it through you, but at 1.40%, not over 1.50%."

then the employee would probably say:
I have to talk to my boss... in the end, with 90% probability, they would give you 1.40% in the contract.

in the end it is like this:
the bank tries to get the highest interest rate, you as the customer try to get the lowest interest rate.
Can you check whether it was because of the loan-to-value ratio? or was that just a move by the advisor to raise the condition by 0.10%?

and the further question would be:
are the 20 years through the bank where the financing runs, or within the network (i.e. partner network, example: Sparkasse = Provinzial or LBS, Volksbanken = MHB, Schwäbisch Hall, DZ-Bank?)
so the financing runs through the bank, which handles everything, but they get the money for the 20 years fixed interest rate from the network partner?

Thank you. That was online, and not only is approval or rejection possible through the portals you mentioned, but adjustments can also be made. That happened in my case. I can say for sure that it was due to the loan-to-value ratio. Applied with 79% and in the contract with 80%. Below 80% better conditions and from 80% then +0.10%.

That's exactly what I wanted to express. If you have to wait for an assessment at a bank for x weeks, it may be that you no longer have any room for maneuver afterwards. In normal times, you would still find out after 1 or 2 weeks that the loan amount is 5k euros too high and could still adjust. Currently, that’s not possible because new conditions would then be applied.

That is currently the difference between branch and online. However, many banks have now switched from branch business. An example is my house bank from about 3 years ago. Worked really well, consultation on site (with a remote call to the construction financing headquarters in Munich) and then signed on site here and done. Today everything goes only through intermediaries and the like. No direct contact anymore.

Hey

then the numbers were probably not recorded 100% accurately. As I said, this has never happened to me before. With new construction, you always have to look carefully at how some things affect the loan in the portal (i.e. production costs). Some banks do not calculate own work at 100% but with discounts. Other banks also have limits here, meaning that outdoor facilities/incidental construction costs should not exceed a certain percentage of the production costs of the house. (and if they do, for example: the bank says: for this house I consider a maximum of €40,000 for the outdoor facilities, but they were considered in the system at €50,000 because of the offer, then a difference of €10,000 arises that is not included in the valuation).

but you can then see exactly that instead of 79.5%, it suddenly becomes 80.5%, and thus in the next interest rate tier...

or what I can also imagine: the broker transmitted the data to the bank too late, and the old conditions had expired, and he had to take the new ones that were 0.10% higher

because as I said, if you follow the rules and pay close attention to all parameters, then there are no deviations (there are banks that then say: here I have a very high blank share, i.e. the financing is much larger than the value, we would then like a 0.50% higher repayment rate in the contract. This is clarified with the customer and if it is OK, then it is contractually regulated accordingly, but the conditions remain the same as applied for)

.. and the conditions were significantly better 3.5 years ago than they are now. Back then there was already 1,x for 25 years.

To get back to the original question. 3.5 years ago I had such a case. My main bank made me an offer x. I signed it at the branch. The employee then left the company regularly a few days later, the new branch manager apparently saw my application as a thorn in his side and blocked it. Through comparison portals / brokers I was able to get better conditions than those offered by my main bank. The main bank blocked the process and did not allow it to the broker. I then had to go to another bank and that became my new main bank with an even better offer. Today, however, the bank is only available through brokers.

Hey or what I can also imagine: the intermediary transferred the data to the bank too late, and the old conditions had expired, and he had to take the new ones which were 0.10% higher

no. The bank rose by 0.20% the next day. It was solely due to the jump from 79,x to 80,x. I will have it looked at again so that it at least doesn’t happen next time.

Did the bank then write the value of the property into the contract or the ESIS? Take a look at it... and see if you get to 80,x value with it... because going from 79,x to 80,x we’re only talking about a few thousand EUR, and with banks I work with, they’re rather humane in such cases, saying: the customer takes 3000€ less (puts in more equity) but the interest rate remains as requested for the rest (I do this very often with follow-up financing) since with new builds, as you already wrote, the difference between lending value and production costs is extreme... or actually, I just thought of something else... Your house bank is HVB *laugh*