Get a loan without equity but with land?

Hello everyone,

We want to start building at the end of this year or next year. We have no equity.
My wife's father bought us a plot of land. (Value: 60,000€). He took out a mortgage on his house so that the plot of land is recorded in the land register free of encumbrances.

Our situation:

He: 27 years old, worker, 1800€ net
She: 24 years old, employee, 2000€ net

Here is the question: Will we get a loan of 220,000 €?

Looking forward to answers
Thank you

Is the property registered in your name? If the property has no land charge, it should actually count as equity. Your bank does not know that the property is being paid off by another mortgage, unless this is recorded in the land register (I cannot say anything about that). Basically, you can also see it this way: your father-in-law gave you €60,000. That is now your equity. The question is how he handled the mortgage on the property with the bank. You can relatively easily get a loan on his land charge, but they still want to know what it is for.

Yes, you will get it. No problem.

Thank you very much for the quick responses. Yes, the property is registered in our name.

Thank you very much for the quick answers.

Yes, the property is registered in our name

If you are the sole owners in the land register, then the property value counts as your equity.