Financing Land & House - 2 Different Loans

Hello everyone,

I am currently in the planning phase of our single-family house.

Here are the time horizons briefly:

- The plot of land is preliminarily reserved and will be notarized in about 8 weeks.
- The house is contractually supposed to be fixed only at the beginning to middle of 2021.

There is no equity to fully pay for the plot of land, so we need a loan for this.
Since the house will be signed about 3/4 - 1 year later, we should certainly take out 2 loans here.

After talks with various financing advisors, it seems that everything points to taking out a variable loan for the plot of land.
Then, about 3/4 - 1 year later, an annuity loan with a fixed interest rate is to be taken out. This should then take over the variable loan, so that we no longer have the problem with the 1st and 2nd rank in the land register. That is why only the variable loan really makes sense.

The Check24 advisor said I should check out banks regionally regarding the variable loan, as he cannot make us an offer for this. This apparently is not worthwhile for his commission, or these advisors only work with fixed-interest loans at this point.

Now my question:

Do you have experience with 2 different loans in this area? Have you maybe done it exactly like this? Do you have recommendations for a different approach?

Important: Which banks can you recommend for this? Have you possibly experienced that an online bank can offer better conditions here? If yes, which banks are leading here?

I am grateful for any help on this. As mentioned, for now it is first about the variable loan. Since the time horizon here is only about 8 weeks, we should get moving on this in the next days/weeks.

Thanks in advance

I am grateful for any help regarding this. As I said, for now it's about the variable loan.

Do what the advisor recommended to you. Get off your butt and go to the local banks. It is actually the case that these variable loans with the short term are no fun for the banks. The interest rate should not matter to you for a term of 6-12 months.

hello definitely close variably

I can only agree. We did it the same way, both Sparkasse and Volksbank offered us variable loans. The interest rate range was between 2.19% and 2.79% last summer.

We will now refinance the loan with the financing for the entire project, where we were free to negotiate with all providers available on the market. I would do it the same way again.

Given the manageable time frame, a total loan can already be taken out now and paid out in installments. This saves the effort with the mortgage registration and cancellation. However, the planning including costs must be completed for this.

Given the manageable timeframe, one can already take out a total loan now and have it disbursed in stages. This saves the effort of mortgage registration and cancellation. However, planning including costs must be completed for this.

On the other hand, there are commitment interest charges and bank reviews.

If the house project (condition, provider, volume) has not been processed far yet, it makes little sense.

Unnecessary pressure