Construction financing - where and how to get advice?

Recently we had a strange experience with DVAG. It turned out that the advisors largely set their commission rates themselves. Any additional costs due to increased commission rates are then naturally passed on to the customer. This is reflected "only" in decimal places, but ultimately amounts to many thousands of euros. Since the advisor also presents offers from different banks, you don't necessarily realize that you are being taken for a ride here. The real shock, however, was: due to the advisor's inquiry, we were initially "blocked" at the banks. When you then have to find a bank that has not yet been approached under (the now existing) time pressure, things get really funny. Surprisingly, the regional Sparkasse then offered us a contract with top conditions. In the past, we also had very good experiences with Interhyp. So there are many paths to financing, but I would like to expressly warn against DVAG. The excessive conditions seem to be standard here.

Now a stupid question. If consultants or intermediaries x, y or z access the same portal, one should get the same result everywhere with identical specifications, right?

Basically, I assumed that too. But now, with our current follow-up financing with a slight deviation from the norm, we have found that there are indeed huge differences. The intermediary through whom we financed was able to offer us significantly better conditions than all the others I had inquired with. And that was not Dr. Klein or Interhyp... I found the intermediary through a Google search and am very impressed by the consultant's expertise. I have never experienced that with the previous financings we have concluded.

Basically, I assumed that too. But now, with our current follow-up financing with a slight deviation from the norm, we have noticed that there are indeed huge differences. The broker through whom we financed was able to offer us significantly better conditions than all the others I had inquired with. And that was not Dr. Klein or Interhyp... I found the broker through a Google search and am very impressed by the competence of the advisor. I have never experienced that in the past financings we have completed.

If I order the same device from Amazon as from Media Markt, I get a different price 90% of the time...

You can't see how the banks "purchase" in the background and how high the margins are. We had inquired and compared everywhere - Interhyp/Dr. Klein/house banks/direct banks. The best offer we received was DIRECTLY from the house bank - without a broker.

So I can only recommend everyone to also look regionally at the "house banks" and get offers there; they are usually the best offers!

When I order the same device from Amazon as from Media Markt, I get a different price 90% of the time...

You don’t see how banks "shop" in the background and how high the margins are. We had actually requested and compared offers from Interhyp/Dr. Klein/house banks/direct banks everywhere. The best offer we received was DIRECTLY from the house bank - without an intermediary.

So I can only recommend everyone to also look regionally at the "house banks" and get offers there, they are usually the best deals!

Yes, of course you should get offers everywhere. My point was to make clear that not every intermediary automatically offers the same conditions. We have now financed through the Allianz, 25 years fixed interest at 0.88% through the intermediary (12 months no commitment fees), offer from the Allianz agency with around 1% (3 months no commitment fees, no more possible, even after presenting the other Allianz offer), offer from another intermediary (no Allianz financing) 1.7%, house bank only 10 years fixed interest, no longer possible, for 1.2%.

I would not have thought that there are differences between the Allianz agency and the intermediary but in fact they would have cost us a lot of money. We are very disappointed by the local bank where our existing financing runs. Max 10 years fixed interest and that at significantly worse conditions.

Yes, of course you should get quotes everywhere. For me, it was about making it clear that not every broker automatically offers the same conditions. We have now financed through Allianz, 25 years fixed interest at 0.88% from the broker (12 months no provision fees), Offer from the Allianz agency with approx. 1% (3 months no provision fees, nothing more possible, even after presenting the other Allianz offer) Offer from another broker (not Allianz financing) 1.7% House bank only 10 years fixed interest, no more possible, for 1.2% I would not have thought that there are differences between the Allianz agency and the broker but they would have cost us a lot of money. We are very disappointed by the local bank where the previous financing runs. Max 10 years fixed interest and that also at significantly worse conditions.

Yes, you can really see how differently brokers work and how different the offers ultimately look - only comparing, comparing, comparing helps. May I ask which house bank you inquired at?

Yes, that really shows how differently brokers work and how different the offers ultimately look – the only solution is to compare, compare, compare.

May I ask which main bank you inquired at?

Yes, and when you then hear "it's only 70/80/90€ a month, that can't be the problem," I can only shake my head. Over the term, that's a lot of money and you don't get any more service for it.

We had the offer from the local Sparkasse.