Finance land now and build later

Did it go faster than planned after all?

What I don't understand is why you want to finance the property at 110%. The additional costs including the broker are just 4000 euros. You write that you want to pay off the property completely in a few years and save money in parallel. Then scrape together your emergency fund, finally start saving, and put the additional costs on the table in cash. This will give you a significant interest advantage and save money, which you can then save again later...

Has anyone gone through a variable financing and knows in detail how the takeover of the variable loan by ANOTHER bank works?

Who takes care of it? Myself, or does the new bank handle it in connection with the variable loan bank (similar to switching electricity providers or mobile phone providers?)

How does the land charge transfer work? What does the whole thing cost? Has anyone generally gained experience in this area?

Actually, the "other bank" takes care of the takeover of the variable loan. A power of attorney is signed, and the banks handle everything else. The same applies to the land charge transfer: the variable loan is canceled and the new total loan is registered. The bank submits everything to the notary, you go there, sign, and happily pay depending on the loan amount :)

We bought a plot of land 3 years ago that we wanted to build on later. The plan was to build in about 5 years. That’s why we also took a 5-year fixed interest rate, which I now regret. Our financial situation has improved significantly, so we want to build now. Because of the fixed interest rate, there is a smaller selection of banks that would take over the financing.

We are in the same "dilemma".. Have you found a bank to finance you?

The lady at Interhyp told us that unfortunately, we couldn’t find another bank. The plot is with ING and the house construction would also have to be with ING, even though only about 50k is outstanding on the plot..

Do you think it would make sense to still make the special repayment (€3000) for 2020 and the one for 2021 in January, and thereby reduce the remaining debt? Would that possibly make it more attractive to other banks?