Construction financing with ETW as security for the loan

I tend to favor a 10-year fixed interest period for renting out and possibly selling in a few years

Then please remember capital gains tax!

Feedback - conversation with Tecis - They recommend a 15-year fixed interest period because according to the Building Code you can cancel for free after 10 years. There wouldn't be many banks offering 110% financing + 10-year fixed interest periods.

Sure, you have the 10 years everywhere. But why pay more for 15 years now if you definitely want to cancel? Makes no sense at all. I also think the claim that there aren't many banks is nonsense.

One consideration would be to put equity on the condominium. I could agree with this idea but would prefer to keep the condo unencumbered, if possible.

And here I have the feeling that another unnecessary financial product is being pushed on you.

Don't let this salesperson unsettle you. Please make sure to go to Interhyp, Dr. Klein etc. as well as local banks. That is more effective.

Then please remember the capital gains tax!

I will, the apartment has been owned since 2015.

Sure, the 10 years apply everywhere. But why sign a costly contract for 15 years now if you definitely want to cancel? It makes no sense at all. I also consider the claim that there are not many banks nonsense.

And here I have the feeling that you are being pushed another unnecessary financial product.

Don’t let this seller unsettle you. Please make sure to go to Interhyp, Dr. Klein etc. as well as local banks. That is more productive.

Yes, that’s exactly how I see it too. We are not afraid of the work involved in talking to many providers.

Today we have appointments at:

Interhyp
Dr. Klein
Consorsbank
BHW - the bank that financed the condominium in 2015.

There will be a detailed report this evening.

Do you have any comments / suggestions on what to watch out for? Best regards

One more question, but the previous apartment is not financed with a Riester home savings contract, is it?

one more question, but the previous apartment is not financed with a Riester home savings contract?

No, it is financed through a completely normal home savings contract. Eligible for allocation - Q2 - 2025

First meeting with Interhyp is over, the following offers are available:

Financing without equity would be cheapest at the Sparkasse with the following conditions:

Rate - €1,548
Repayment - 3%
Special repayment option up to €18,000.00 (5%) once annually possible
Loan term - (calculated) 25 years 8 months

Financing with equity would be cheapest at Ing-Diba with the following conditions:

Option 1:

Rate - €596.62
Repayment - 1%
Special repayment option - multiple times possible (at least €1,000.00 per payment, total maximum €16,650.00 (5%) per year)
Loan term (calculated) 67 years 3 months

Option 2:

Rate - €735.38
Repayment - 1.5%
Special repayment option - multiple times possible (at least €1,000.00 per payment, total maximum €16,650.00 (5%) per year)
Loan term (calculated) 50 years 2 months

The following considerations:

1. Pay equity yourself after all.
There will be a meeting with BHW afterwards where I will discuss increasing the condominium loan to cover the incidental costs of the house, if possible? A disadvantage I see here is a higher rate at BHW if the loan for incidental costs is added to the apartment rate. Surpluses from the apartment could be used to make special repayments or to pay off the loan on the condominium as quickly as possible.

2. Financing the property with BHW.

What are your thoughts / opinions / suggestions / comments?