Financing with or without planned renovation?

Is the bank even participating in the financing? Is the house also worth €460,000 to the bank?

Does the bank even participate in the financing? Is the house also worth €460,000 to the bank?

We now have a non-binding offer from an intermediary, and there were several banks willing to finance it. Of course, nothing is final yet. Would an additional renovation budget increase or rather decrease the chances?

We now have a non-binding offer from an intermediary, there were several banks that would finance it.

But you must have really good creditworthiness. Otherwise, 100% of the purchase price (or rather 110-120% loan-to-value) is rather unrealistic.

Would an additional renovation budget increase or rather reduce the chance?

It depends on how the bank evaluates the renovation.

The data of the house was requested by the broker, so I think the offers or conditions take this into account.

We have a household net income of €6,500, my wife is a civil servant. We pay the high loan-to-value ratio with the interest rate of 4%.

Schrag no longer exists, but there are still spare parts and currently also new burners. It is difficult to replace such a heating system. and even less so if you live in it. Facade insulation is never financially worthwhile, especially if the plaster is in good condition.

Ah ok, thanks for the info! We were probably lucky to have been just early enough.