Construction financing with 4 borrowers

Good day,
I have already read quite a bit here in the forum, but the right information has not been there yet.

Regarding my question: We: woman 33, nursing assistant, man 31, warehouse worker and daughter 2 years old want to build just like many others.
The plot is located in beautiful Schleswig-Holstein which belongs to my parents and where their house is also located. The plot has a size of about 1010 sqm. My parents both work.
We would like to build there.
If we build, my parents would like to have their house clad with bricks and have the outdoor area as well as the driveway redone.
Is it possible to specify 4 borrowers for a construction loan on our house so that we can take out a total amount that covers house construction + incidental costs etc.? The new house should definitely be occupied by us, so that my parents are not also listed in the land register.

Best regards

If the parents are not to be listed in the land register for the new house, the land must first be divided anyway and the new building plot registered to you. Whether the bank will then lend more money secured by your house than it is worth, I dare to doubt. Why don’t the parents take out their own loan and secure it with their house?

It was just a question whether it would generally be possible to have a mortgage with 4 borrowers.

Was just a question whether it would generally be possible to have a construction loan with 4 borrowers.

Clear answer: Yes, it is generally possible and also not uncommon

Clear answer: Yes, it is generally possible and also not uncommon

Great, thank you for your answer

Super, danke for your reply

The alternative option often used is a guarantee.