House purchase, renovation, outdoor facilities / financing mortgage loan

Hello,

we want to buy an existing property that has a few special features. The financing method should be a mortgage loan. What can we finance with it? I'll list it:

- House purchase (yes, that’s clear)
- Structural changes: removing a wall, replacing windows with a patio door, possibly some drywall – that should be financeable as well, right?
- Structural calculations for that? Meaning services from an architect / structural engineer?
- Terrace construction – can I finance that too? Does the terrace have to be attached to the house or is it also possible if it’s spatially separate (a few meters away from the house in the sunny garden plus a path leading to it)?
- Fence, gate – so property enclosure?
- New carport / garage / parking space?
- Renovation: flooring, painting?
- Fitted kitchen?

What do I usually have to prove to the bank regarding these things? How does it look for materials if I do some of the work myself?

Now for the special feature: The house has no private access to the nearest street but can be reached via a plot of land owned by the municipality (right of way exists). We can buy this plot. Also, the sheds on it. Can I finance the purchase of this plot within the same mortgage loan as for the house? By buying the plot, the house gains value, right?

Thanks for a qualified opinion! I have to decide what to use my own funds for and what I can include in the financing framework.

Sure, I have to talk to the bank, but I would like to be prepared (and unfortunately I’ve already experienced that the nice bank advisors themselves often do not know this and therefore can’t make me a proper offer).

Best regards

Lutz

Everything related to house construction or house purchase + renovation (including outdoor facilities) belongs in the calculation and could be financed. Except for real estate agents and let me be wrong: the ancillary acquisition costs. Furniture, kitchen, and awning not, but still a carport or a terrace roof. Bank advisors who are responsible for property financing should know this – of course not the gentleman or lady at the counter.

Hmm well I'm not entirely sure if this is related to the topic, but recently I had to take out a loan to renovate my house. The bank didn't just want to give me the loan, it was more of an ad-hoc loan where I had to formally mention every construction principle. Everything seemed fine, but I also wanted to install some new sliding doors. If I had mentioned this directly to the bank, I wouldn't have gotten the loan. So I thought I'd make a few glass sliding doors instead of new doors, you can Google Vitron if you're interested. The plus was that I was allowed to describe these doors as "windows," which made it much easier for me to get the loan. Best regards

General question: can or should such and other questions and their answers be recorded in a consultation protocol and then also signed by the consultant?

Consultation protocol?

Who is taking the risk here? The bank or the customer?

Consultation protocols belong in investment advice for risky investment forms, not in credit advice. But presumably, that will come eventually too. And who ends up paying the effort in the end? The customer.

If someone gets signatures on a loan agreement, it is the bank. For example, under the self-disclosure.

As far as the Ad-Hoc loan is concerned, I can neither understand the purpose nor the type of loan. What the bank calls it does not matter. And the purpose of use is irrelevant if affordability and sufficient collateral are ensured. For all I care, you can even use the free land charge to finance a Ferrari.

Post No. 2 basically says it all, although ancillary construction costs or an awning can also be financed. See 110% financing, if everything else fits.

Hello,

General question: can or should such and other questions and their answers be recorded in a consultation protocol and then also signed by the consultant?

Actually, every bank is obliged to provide you with a signed consultation protocol

Rhenish regards