Financing without equity with security?

Hello,

as mentioned above, your parents are at risk with their house. (They are liable with their property in case of emergency). Additionally, in my case it would always be that my parents would interfere with me because they are co-liable............ I wouldn't feel like dealing with that

I would do it. How you could possibly ease it a bit: finance the plot with the house of the parents as collateral. Make it a full amortization loan over 5 years. Then you mortgage the plot along with the new house for the new house.

You do not have to use the entire house of the parents as collateral for the financing.

Talk to the bank about how much they want for a low interest rate - we received 50k as collateral from the parents. In 5 years, that can/will be removed and my parents are out...

I see nothing wrong with that as long as it is about a manageable amount. And what or how should the parents have a say then?

The whole idea is completely bananas The equity is significantly less than 0. The financing is in any case a >100% financing and that with a not so high income. Financing such a high amount inevitably ends in foreclosure as soon as even the smallest thing goes wrong.

Sorry for the harsh words...

The whole idea is completely crazy The equity is significantly less than 0. The financing is in any case a >100% financing and that with a not very high income. Financing such a large amount inevitably ends in foreclosure as soon as even the smallest thing goes wrong.

Sorry for the harsh words...

I wouldn't say that. However, it's not a sure thing either. Well, inheritance will be there eventually....

I think there is some truth in Steffen80's statement. A >100% financing (everything included) with a not high income and then also burdening the parents' house, I find that quite risky. But I prefer to always be on the safe side...