[QUOTE="Redsonic, post: 135401, member: 28011"]
[*]Repayment only starts after the entire loan amount has been drawn down
correct! that is actually almost always the case. the builder is interested in withdrawing the money because the provision interest rates are higher than the actual interest rate.
[*]The bank releases a maximum of 10,000 EUR without proof
that varies a lot. we were able to spend 70,000€ without proof. in the end, they only wanted a list showing where the money went (without invoice proof)
[*]Provision interest accrues on the remaining amount after the agreed period expires
that is probably always the case. however, you can negotiate the interest-free provision period.
[*]kitchen cannot be financed
that also varies a lot. our kitchen was "financed" [QUOTE] in the end, everything basically depends on the equity or the lending value. we paid for the land with equity. from the bank's perspective, the equity was then used for everything they actually don’t care about (kitchen, ancillary building costs, etc...). that we thereby paid for the land and the kitchen was financed is then completely irrelevant. of course, if you don’t have real equity, the lending value worsens and you have to make compromises and provide more proof, for example. the 70,000€ without proof was basically our equity (and thus the land was financed).
it is strongly advisable that you do not have to prove everything. freely available money sometimes has advantages.
important, as already said, is that you actually have the extras listed. accepting a garage at 20,000 and then putting up a 1,000€ carport should be clarified with the bank (during the construction phase, for example if you miscalculated). it is better to include a reasonable reserve right from the start. whether the extra cost of the stairs ultimately costs 1,000 or 5,000 or even 0€ (when calculated as 3,000) is quite irrelevant, as long as a staircase is installed. many extras do not have real added value for the property (e.g. painted stairs).