Internet bank vs. individual advisor - who is reputable here?

Hello,

this is my first question in this forum and I really hope that someone can help me.

We are currently working on the financing of our house construction project. Now I have received a very good offer from comdirect, which is mediating a loan from PSD Bank for me. An independent advisor, whom I actually consider to be very competent, unfortunately cannot make me such a good offer. According to him, PSD Bank does not even accept his request for our loan because some conditions are not met (too little equity). As a result, he has to turn to another bank, which currently offers less favorable conditions. He even showed me the portal where he enters his requests. Everything seems to be correct.

Regarding the offer from comdirect, he says that it is a rip-off. After placing the order, it would turn out that the application can only be approved under different conditions, but by then the inquiry would already be registered with Schufa.

The lady from comdirect, on the other hand, denies this; they partially receive different conditions than an individual advisor.

The comdirect offer states "The financing institution expressly reserves the right to a final examination of the financing request," which I actually consider to be a normal clause.

Now my questions:

Has anyone had experiences with large internet banks? Is this a known scam?

Can the problems feared by my advisor occur, or is he only afraid of losing his commission?

Is it problematic if I agree to the Schufa inquiry but then reject the offer?

I am very curious about your answers!

Thank you very much in advance
wiesdorfer

A Schufa inquiry is not a big deal, but if you make lots of inquiries (real inquiries, not just wg/conditions), your Schufa score will deteriorate. Why? Because Schufa then thinks that you do not get approvals for all the inquiries, as the banks assess your creditworthiness poorly.

I would have the good offer made to me. If it doesn’t work out, then engage with the advisor.
I have also completed a financing myself at PSD – everything went as the credit broker arranged (but that was already two years ago).

Hello

If I were you, I wouldn’t drive yourself crazy. Everything is possible, nothing is mandatory. Just forward the documents to Comdirect and wait, maybe it will work with PDS after all.

Not every broker works with every bank, there are also exclusive contracts. The commission also varies. I don’t want to accuse anyone, BUT a broker could definitely refer you where they earn the most.

You have already done everything right by contacting two different advisors.

Feel free to post your conditions with us. We could give you some more tips.

Hello,

We are currently working on the financing of our house construction project. Now I have received a very good offer from comdirect, which is mediating a loan from PSD Bank for me.

Then I wonder why you don’t decide in favor of this offer?

Has anyone had experience with the big online banks? Is this a known scheme?

No one can seriously answer that! No user here knows your personal situation, nor your income. I have often experienced that the customer’s own bank has accepted conditions which it previously rejected towards its customer.

Overall, I personally do not think much of committing yourself in an unknown orbit when it comes to a not insignificant amount of money. Personal contact is preferable here, along with a truly independent financial advisor and/or the house bank.

Could the problems feared by my advisor occur or is he just afraid of losing his commission?

That depends on what you understand by an "independent" advisor. Is your advisor truly free or rather tied to an insurance company or institution?

Is it problematic if I agree to the Schufa inquiry but then reject the offer?

If it happens frequently, yes. The explanation can be found from the user "nordannay".

However, you can avoid this "risk" of worse scoring by ordering a self-disclosure via the internet and presenting it to the banks in question.

Rhineland greetings

If it accumulates, yes. You can find the explanation from the user "nordannay".

However, you can avoid this "danger" of worse scoring by ordering a self-disclosure via the internet and presenting it to the relevant banks.

Rhineland greetings

will unfortunately be accepted by (almost) no bank. Except maybe a joke bank.

You should simply ask the potential bank / broker whether a soft or hard inquiry will be initiated. The first one usually prevails and does not worsen the score.

Hello,

will unfortunately be accepted by (almost) no bank. Except maybe a fun bank.

I cannot confirm this for my area; our independent financing broker also handles it exactly the same way. The financing bank, which later gets the contract, will of course make its own inquiry. But then there is only one inquiry shown in the credit report ;)

Rhenish greetings