Construction financing, will I get money?

We actually considered it this way. That we practically take out the additional €50,000 from the one bank and use it to repay the loan. That way, we could fall back on the rental income again. The house is used as collateral. It is registered in the land charge with €200,000 but by now it could be more. It could be appraised. Since the heating and everything else is new. The house we want costs €80,000 including the land. It is in good condition. But I still want to add another floor and then renovate the attic with a bay window. I and my family live on the ground floor and first floor, and the attic would also be rented out. The house would then also be registered in the land register with me and used as collateral. But I don’t know if it would work out the way I imagine it. Of course, electricity, heating, and windows, etc., would also be new.

There is a difference between how one envisions something and how banks handle contracts. Toxi has already explained that to you with reasoning.

So you think there is no bank that would go along with something like that?

I just think that you cannot simply terminate the existing loan during the term and that you should therefore possibly consider another concept.

And if you would answer the still open questions, it might be possible to write even more about it.

From a tax perspective, it also does not make sense to repay the loan on a rented property, as you can deduct the interest as expenses in the [V+V].