Financial requirement for construction

I agree, however, that it is rather critical with the numbers mentioned here.

No, it’s critical when it’s tight but maybe still feasible. Here, I have to clearly say this is utopian. I would find it negligent to give a different impression here. No bank would participate in this either.

1. no equity, thus financing over 100%! That means 100% of the loan runs at an interest rate like with a 100% loan-to-value ratio. The rest, i.e. the part over 100%, is via a consumer loan at easily over 4%.

That is not correct. We also have less equity than the incidental costs and thus have financing over 100%. Nevertheless, our bank immediately approved our desired amount with interest rates under 2%.

well..I have a completely different opinion. Anyone who has no equity and on top of that still takes out loans (completely irrelevant what for) should definitely not build a house. Unfortunately, there are cold-blooded banks that finance such actions. It should actually be forbidden

No, it’s critical when it’s tight but maybe still doable. Here I have to clearly say that it’s utopian. I would find it negligent to convey a different impression here. No bank would participate here either.

We are in agreement... I just phrased it differently, but also meant that it’s not feasible and even if a bank would do it, it’s not advisable.

well..I have a completely different opinion. Anyone who has no equity and on top of that still has loans (totally doesn’t matter what for) should absolutely not build a house. Unfortunately, there are such cold-blooded banks that finance such actions. should actually be forbidden

What nonsense....there are really many cases where it works without problems. It always depends on the reasons for "no equity" as well

That is not correct. We also have less equity than the ancillary costs and therefore have financing over 100%. Nevertheless, our bank immediately approved our desired amount with under 2% interest

But you had equity that probably covered the real estate transfer tax. Here there is even debt present. The usual procedure is that from 100% onward, a consumer loan is granted for the rest.