Finance land + build a house in 2-3 years?

The saving of the new mortgage was the purpose of the consideration. For 2-3 years, a few tenths on the interest rate should not erase the cost savings for the mortgage, so that one can certainly take out the variable loan with the previous bank.

Hello,

one should also take into account the commitment interest when applying for a loan for the land and house "in one go" already.

There is a fairly high probability that you will pay commitment interest for at least 1 - 2 years, which, at most banks currently, is higher than the actual loan interest.

Therefore, I also recommend a variable loan secured by the free land charge portion of the apartment + (if necessary) a residual land charge on the new property.

Regards,

Dirk

Hello everyone,

first of all, thanks for the numerous responses!
Many thanks especially to AndreasWenzel for the very detailed explanation.
Unfortunately, I have been a bit busy the last few days, so I'm only getting around to writing now.

Paying interest while simultaneously living in a rental is not possible...
Moreover, I cannot yet estimate the total value of the house, so you would definitely borrow too much or too little...

We have rechecked the mortgage on the condominium.
Here you could probably borrow about 20k more. -> Increase in value over the past years
How high would the mortgage need to be for the bank to accept this without a mortgage on the land?

Could the home savings contract possibly be helpful here?
Unfortunately, not much has been saved yet (about 6k/30k).
I would still have to wait about 5 years for the allocation... :/

I would like to briefly summarize everything again so that I can also make sense of it
- Finance the loan through interim financing (variable loan) with a large final installment
- Try to get the land without a mortgage because otherwise you HAVE to do the big loan through the bank

Thanks in advance!

How do you want to "have financing in your pocket" from the bank without being able to present a specific plot of land? I would suggest contacting the dear representatives of the community and openly discussing such nonsense statements. You don't know which plot of land, in what size, at what price, when, and whether you can buy it – so how should financing be fixed for that? It is logical to think about the feasibility of the construction (financially) before the application. You do that as well. But even after allocation to a plot of land, you have 14 days to revoke the contract – so no panic.

The problem is simply that due to the low interest rates there is currently a gold rush atmosphere... The big investors are plundering the market and the average homeowner has to make sure they still get a piece of the pie. If you don’t take it, there are plenty of others who won’t hesitate as long. I’m curious what will happen in a few years when interest rates rise and many can no longer afford the follow-up financing. Unfortunately, that won't help me much because the interest rates will then be too high for me as well... Acting is therefore probably really called for at the moment...