neubauer
2022-01-25 23:10:48
- #1
There are so many questions now, I will try to answer most of them:
Yes, the house is solely in her name.
They do occasionally help out with a few euros, but my acquaintance does not want to burden both parents, who are about 85 years old, with this as they are partly in need of care and wouldn’t really understand it properly anyway.
She no longer really has a main bank. Until about 2 years ago, she was with a Sparkasse for about 30 years at her old place of residence 700 km away, and then switched to the DKB.
She has had her company account with the Commerzbank for about 6-7 years, but whether that can be called a main bank, no idea!?
No, that never happened; she always made sure everything was paid.
Correct, it originally cost €200,000. With the DSL Bank she has now paid interest for 10 years and simultaneously contributed a bit to a building savings contract. However, the building savings contract will probably only mature in a few years. But the €175,000-180,000 could be roughly right.
The DSL Bank. There are no children living in the household anymore. The current income is about €1500-2500 per month. It fluctuates since she has been self-employed for about 9 years.
The term would end in 1-2 years; she just wanted to save a little and take advantage of the lower interest rates. She is currently paying 3.5%. But don’t hold me to that; I am not a banker.
When she bought and financed the house back then, she was still employed. Shortly thereafter, she became self-employed. Her banker advised her accordingly and said he would look at the numbers and forward them to the bank if they fit. But apparently, he did not do that.
She probably wouldn’t have done it if it didn’t fit. Her intention was only to reduce the monthly burden a bit.
If there are other options, then gladly.
Sorry, but that is complete nonsense. I also have to work on the side and still take the time to help her where I can, but I was also a bit overwhelmed by the many answers, so responding takes a bit.
And no, I have nothing to do with this company.
No, that is not the case, and as already mentioned above, everything was always paid; therefore, the bank can normally not care where the money comes from.
The above-mentioned banker who arranged the financing back then and is now also supposed to do the extension at better conditions offered the same principle as the one from Hausa.... but at worse conditions. It already starts with the appraisal.
Hausa.... estimated the property at about €450,000, and he estimated the property at about €370,000, which makes a difference of about €70,000, which is a lot of money.
Is the house solely in her name?
Yes, the house is solely in her name.
Possibly the parents can help as guarantors as long as the income is not sufficient yet.
They do occasionally help out with a few euros, but my acquaintance does not want to burden both parents, who are about 85 years old, with this as they are partly in need of care and wouldn’t really understand it properly anyway.
As mentioned, normally you make a call at your main bank, say: I am thinking about extending the financing, send me an offer and that’s it...
She no longer really has a main bank. Until about 2 years ago, she was with a Sparkasse for about 30 years at her old place of residence 700 km away, and then switched to the DKB.
She has had her company account with the Commerzbank for about 6-7 years, but whether that can be called a main bank, no idea!?
Unless there was already a "payment issue," i.e., one or the other installment wasn’t paid (even if it was paid afterwards), then the bank probably has an argument to reject.
No, that never happened; she always made sure everything was paid.
So I assume the house was purchased for around €200,000 about 10 years ago. Probably 1% amortization? So about €175,000-180,000 follow-up financing? If the house is now worth €400,000 or more, the bank doesn’t care if the capital service is not good (the income is not enough for living expenses/installment/maintenance).
Correct, it originally cost €200,000. With the DSL Bank she has now paid interest for 10 years and simultaneously contributed a bit to a building savings contract. However, the building savings contract will probably only mature in a few years. But the €175,000-180,000 could be roughly right.
Who finances, does she have children in the household and what income does she have?
The DSL Bank. There are no children living in the household anymore. The current income is about €1500-2500 per month. It fluctuates since she has been self-employed for about 9 years.
Maybe the end of the financing term is reached. We make such contracts, for example, with all commercial customers – fixed interest = end of term.
The term would end in 1-2 years; she just wanted to save a little and take advantage of the lower interest rates. She is currently paying 3.5%. But don’t hold me to that; I am not a banker.
What is meant by "changed negatively"? If I am temporarily unemployed now, I wouldn’t choose exactly this time in my life to unasked send the bank new household documents and ask for an interest offer, especially if I still have 2 years left.
When she bought and financed the house back then, she was still employed. Shortly thereafter, she became self-employed. Her banker advised her accordingly and said he would look at the numbers and forward them to the bank if they fit. But apparently, he did not do that.
She probably wouldn’t have done it if it didn’t fit. Her intention was only to reduce the monthly burden a bit.
I don’t find the concept that interesting… For 2.9% annual “usage fee” there are probably much cheaper options.
If there are other options, then gladly.
Honestly, I consider this thread pure fiction and probably advertising for this platform. At least the fact speaks for it that the original poster appears with a poorly substantiated, rather strange initial situation, immediately drops this provider in the first post, and then disappears forever into Narnia.
Sorry, but that is complete nonsense. I also have to work on the side and still take the time to help her where I can, but I was also a bit overwhelmed by the many answers, so responding takes a bit.
And no, I have nothing to do with this company.
Sounds almost like there isn’t enough money for food. I can understand the bank.
No, that is not the case, and as already mentioned above, everything was always paid; therefore, the bank can normally not care where the money comes from.
The above-mentioned banker who arranged the financing back then and is now also supposed to do the extension at better conditions offered the same principle as the one from Hausa.... but at worse conditions. It already starts with the appraisal.
Hausa.... estimated the property at about €450,000, and he estimated the property at about €370,000, which makes a difference of about €70,000, which is a lot of money.