Follow-up financing or new loan?

The current real estate loan (first-ranking land charge) ends in 2018, and talks about the follow-up financing with the house bank have begun.

Now the bank advisor brings up a new loan as an alternative to the forward loan. His argument is that the loan-to-value ratio has improved through repayment. At the time of conclusion, it was about 35% of the lending value, now it is only about 20%.

To me that sounds logical but I have no idea. Does this really make a difference that justifies the additional effort?

Then I understand that it can make sense to finance part of the loan amount through a home savings loan. But since the loan amount here is clearly less than 60% of the lending value, it is anyway a low-interest "first-ranking loan", right?

I only wanted to obtain alternative offers once the house bank's offer is available, there is still time. I did not want to include online offers. Are there counterarguments to this?

The loan-to-value ratio is the same for the forward loan as for a new loan. The condition is therefore also identical. A disadvantage of new financing (then at another bank!) is that you incur costs for the assignment of the land charge.

Condition-wise, you are at a level of 35% anyway compared to 20% – there is no difference anymore.

The only one who can benefit from a completely new loan granting is the bank consultant. He generates sales figures for himself.

The only one who can benefit from a completely new loan agreement is the bank advisor. He generates sales figures for himself

That's what I thought. On the other hand, if it helps him and doesn't cost me anything, I don't really care, do I?

I'll summarize briefly: with the same bank, a new loan makes no difference to me compared to the follow-up financing. When switching banks, I incur costs for the transfer of the land charge. But that doesn't mean you shouldn't get offers from other banks to see if they are worthwhile despite the additional costs, right?

My bank advisor as well as a financial broker told me independently that in the case of a simple extension, the changes effective since 21.3. would probably not be applied. In the case of a new loan (i.e., new account number/loan number), the changes would fully apply, meaning that suddenly nonexistent children are attributed, only one salary is considered since the wife's salary is definitely disregarded due to the attributed children, even if one is already over 40, one has to submit pension notifications (if one comes into retirement with the installments), house inspections are carried out, the house is revalued, etc.

Hello!

What does Bankberater mean? You should definitely get the house bank’s offer for the follow-up financing and at the same time request follow-up financing (forward loan) for 2018 from a broker.

For your information:
We are refinancing 200k in 2019, the deed of trust assignment costs us about €1000. The current bank was a full 0.75% higher than the new bank. I calculated it once; in our case, there is an interest savings of €35,000 when refinancing the current loan. !!! €20,000 cheaper compared to the house bank’s offer!

I am a bank employee myself and have a healthy relationship with loans. Money is interchangeable and the same; for me personally, it doesn’t matter which bank finances me. Especially not at 0.75%.

What customers shy away from is the application because many documents have to be provided and the costs of the deed of trust do not stand in any relation to the interest savings.

So look for brokers and compare. Dr. Klein, Interhyp, etc.,

But isn't the new Residential Real Estate Loan Directive also a problem with a new loan? The borrower is already over 70, which, for example, should increase the requirements for repayment, right? Possibly the heirs would also have to join the loan as co-debtors, right? This discussion already took place with the bank once and the borrower was clearly younger then.

And how do you find a good broker? Aren't they also commission-driven? I know the problem from insurance brokers; I haven't really met a good one yet. Therefore, I would actually go directly to banks myself, is that stupid?