Financing commitment at the current time

We live quite minimalist, have no car, rarely go to the campsite and need 1500€ per month for living expenses for six people

Then you are unlucky that you live outside the standardized processes. Lending is a business with a concave risk profile. You regularly make small profits and occasionally there is a huge loss that can wipe out previous gains. Basically, I would have said, go to the house bank, as there is still the best chance to get something outside the standard processes to minimize risk. I also have trouble believing that you seriously support 6 people with full costs for 1500€ per month because:

after selling the property we have equity of about 120k.

With a net income of 5500€ plus child benefits and 1500€ living costs, you should have much more equity. Let's roughly assume a savings rate of 3000€ (meaning 1000€ plus child benefits went into housing!), then you would have saved that in just over 4 years. So please be honest: what do you really need to live, keyword household budget, and are the banks' flat rates really that horrendously high?

At the very beginning I was also with a financing advisor who also confirmed to me that the flat rates, which banks use for living expenses, are sometimes too high.

My impression was rather the opposite, the flat rates are too low for an honest calculation. Your example shows this very well too: Let's start with fuel, that's 150€ upwards. Then you have insurance and inspection, regular wear parts like tires and brakes. Setting 100€ per month for that is not wrong but rather economical. And then you still have depreciation, which you certainly will not adequately cover with 50€. But that does not appear on any invoice, accordingly almost everyone forgets it. With old cars you will spend much more money on repairs.

Thank you very much for your numerous responses, unfortunately none of this helps me at all, because - as you have already noticed - there are many factors that go into financing. I have also not asked here for reasons why it could fail - and it is not failing because of insufficient income, but because of a contract that we cannot yet present. I was hoping for answers and experiences from people who are currently in the financing phase - obviously none of the previous respondents are, and therefore cannot make a statement about the current status.

because of a contract that we cannot yet present.

That would also be quite naive.. Who sells their house without having first been assured that the new house will also be financed :eek: what are they thinking..

We completed the financing last autumn. For the equity portion that we wanted to bring in from the house sale, we took out bridge financing and also had to register a land charge for it.

“Back then” this was possible with ING without any problems. However, we only had 55k bridge financing and an expected sales proceeds of also 420k. But our remaining debt at that time was just under 112k.

Maybe it’s because you expect 120k as equity after the sale, but what happens if it’s only, for example, 90k?!

Well .. even if someone could now demonstrate a corresponding success, that would not be meaningful, as no lawfulness can be derived from it. It is still open which amount is actually to be financed. Therefore, here are many references to what is usual, what might be, and what might be considered. One aspect certainly also ... in what time frame was this possibly available equity of 120000 actually accumulated? Just a retro perspective, previous equity, how long has it already been paid off, and how did it all come about. Together with the newly financed part, only then does a assessable state arise.

Thank you very much for your numerous responses, unfortunately none of this helps me at all.

Why not? There were personal testimonials from people in the same position as you. Result: Sell first, then get the new contract.

I understand very well that this does not satisfy you. Because you have the following appointments:
1) Pre-arranged notary appointment
2) Notary signature
3) Signature of new loan agreement
4) Approval of new loan agreement
A lot can happen in between that is beyond your control. In the worst case, the house is sold, but you do not get a new one. Bad. But unfortunately, there is no comprehensive solution.

You will first have to initiate the sale, and then shortly before signing, with the draft of the notary appointment in hand, you will have to ask your bank if this is sufficient now. The bank's answer is no? Then cancel the project. The answer is yes: Carry on and tremble until the approval.

For this, it is essential that you do not lie to yourself or the bank with rounding errors like your income (5.5k + child benefit vs. 7k), but also that you have not yet burned your bridges with your house bank. Because for such constructions, you can never rely on an online bank via a broker. If the house bank says with the notary draft that they would do it, then they will do it that way. The anonymous online bank like ING, DSL, and even the broker themselves, could not care less about your personal fate. Listen to the house bank.

What amount is it actually about? Total costs minus (virtual) €120k. (You were faster...)

I still haven’t seen any figures. Instead, a lot is written again but nothing is said. (All relevant figures please...)