Financing - how many comparison offers?

Depending on what the intermediaries have agreed with the banks, right?

We first went to a small broker based on a recommendation and outlined the basic financial framework there.

Then we planned the house and everything became significantly more expensive. We asked the broker for an update and simultaneously inquired at Interhyp. Both were roughly at the same level.

Then we called the red and blue banks from the nearby area. However, I am also with a direct bank and therefore do not have a traditional house bank. But it was all no problem - pleasant, uncomplicated conversations.

It ended up being the red bank from the neighboring town with a fresh offer. Somehow they were able to offer us top conditions that were well below those of all other local banks. Interhyp could no longer offer me the conditions since I already had direct contact with the bank.

Overall, it was much more relaxed than expected.

Red Bank, so Sparkasse?
I’m surprised. I wouldn’t have thought of asking there. Two years ago, we almost bought a house and inquired at Sparkasse back then and got a really bad offer. The best offer at the time came from the Commerzbank, however without the option to change the repayment rate.

The local banks just know the local market and can react more flexibly, quite unlike the automatic evaluation via StarPool and whatever the broker databases are called.

Otherwise, it also works very straightforwardly with human contact. About 1-2 weeks ago I called my advisor at the red bank to see how a low 5-figure subsequent financing would look like. As an answer, I was directly given good terms and asked whether I needed the money today (a Friday) or if Monday/Tuesday would be enough. Actually, I just wanted to inquire and initially declined.

Therefore, I would never exclude the local branch banks in advance. Even if there was nothing two years ago, there could be a new advisor today offering completely different conditions.

I have surprisingly good experiences with Volksbank. However, oddly enough not in Berlin. Now I am a member in the Black Forest.

We were first at the red house bank last year. It didn't help at all that we have been with the bank for generations. The offer was really bad. A combination home savings contract. The statement back then was that they were not allowed to offer a pure annuity loan in that amount.

So we went to a local financial advisor. The offer mediated there was easily 1% lower. For 20 years fixed interest. Instead of the 10 years at the red bank.