Finance property - take a loan to secure the interest rate?

  • Erstellt am 2016-08-31 19:59:04

PhiTh

2016-09-09 12:53:14
  • #1
I would definitely advise you against doing this. If you take out a loan for the [Grundstück], there will be an entry in the [Grundbuch]. You will also take out a loan for the [Haus]. This also requires an entry in the [Grundbuch] and causes the following problems:
- Either you take out a loan with the same bank, your negotiation basis is very poor and you will certainly pay a higher interest rate.
- If you take out a loan with another bank, it will have to be content with the 2nd rank in the [Grundbuch], which has a negative impact on the interest rate.
 

sirhc

2016-09-09 13:30:42
  • #2
Our land financing started one and a half years before construction began. To avoid the mentioned dependency, we only took out a fixed interest rate for one year and then let it run variable. The variable land loan was later replaced by the "large" construction loan.

We actually stayed with the bank. In theory, we could have registered the large amount directly as a mortgage instead of just the land financing, which would have been a one-time registration instead of two entries – the costs for this are graduated depending on the amount of the mortgage to be registered.

We have now registered more than calculated up to the next fee threshold (and thus created an additional buffer of 25,000 or 28,000 EUR with the same fee).
 

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