Financing concept - Setting the course for the time problem

Banks usually want an approved building permit, which can take months.

If we want / have to partially finance the property, and a disbursement must take place in June, would the approved permit then be necessary? Or only during construction and the installments according to progress?

Have you not even been to a bank or had a consultation yet?
Then it's about time!

Have you not been to a bank or consultation at all yet? Then it's about time!

Yes, yes, advisor at the building society and the day after tomorrow at the house bank. Before the whole project, we were at the house bank regarding the principal feasibility. For example, the statement was made that we absolutely need an approved project for the issue of property charge because it is a linked loan and 99% of banks require that?! Such and other different statements have confused us a bit and we also wanted to ask again here.

approved project

Possibly this only means a correct calculation with the house construction contract and not an amateur calculation without a contract.

For example, the statement was made that we absolutely must have an approved project for the issue of land charge property because it is a connected loan and 99% of banks require this?!

I cannot speak for 99% of banks, but at least for us and a few hundred partner banks that work with us. NO, the building permit is not necessary.

Even for our commercial projects, which sometimes involve three-digit million amounts, the building permit is not mandatory for loan approval. Only for disbursement.

I can't speak for 99% of banks right now, but at least for us and a few hundred partner banks that work with us. NO, the building permit is not necessary.

Even for our commercial projects, which sometimes move into the triple-digit million range, the building permit is not mandatory for loan approval. Only for the disbursement.

Thanks! Then our advisor probably fibbed a bit…

Thanks! Then our advisor must have fudged a bit…

It's a bit quiet now - mail - principle, since no one else was there.

In my experience, a finished plan is needed so that the banks can calculate the value. The offer then depends on that.

Planning does not mean that the building application has to be approved. Only the calculation basis should be there.

On the other hand: I would like to join the warning voices regarding building savings contracts. For us, in comparison to an annuity loan, that would have ultimately cost significantly more interest.