First payment to the bank

Hello,

when is the first payment (loan repayment) due to the bank if:
a house, for example, starts construction in March and is supposed to be finished in September/October?
One could only move in as of October.

The loan must already be in place after signing the purchase agreement so that the developer can receive his money in stages...

How would it proceed?

Hello Gigi,

When is the first payment (loan repayment) due to the bank ... The loan must already be in place after signing the purchase so that the developer can receive his money in installments...

As a rule, you go to the bank with the future construction contract – have a copy handed to you showing all the payment steps – before signing, with the bank you want to finance with. The responsible caseworker will take the payment steps into account – ensuring that payments only have to be made after progress in construction – and will then be able to tell you bindingly when you have to start repaying the loan.

Kind regards

Do you pay commitment interest/construction period interest at every bank?

Do you pay commitment interest/construction period interest at every bank?

At least, I haven't heard of any bank that doesn't do this. The only difference is the periods until commitment interest is charged.